"Why would a politician use very scarce tax dollars to go rebuy oil, send the price up, increase inf

May 20, 2023
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"Why would a politician use very scarce tax dollars to go rebuy oil, send the price up, increase inflationary pressures on the Fed ... There's a very strong correlation between gasoline price and presidential approval ratings. ... We do not expect any politician to refill that reserve ever." - Eric Nuttall

Others expect US will begin to refill the SPR soon, given the strike price (they buy at a fixed price).

Biden used the strategic reserve of gas (which was supposed to be for emergencies) for political reasons, to get the price at the pump down. - Rafi Tahmazian

Putin cut off gas to Europe. They panicked (logically) and bought gas from everywhere they could for exorbitant prices. And they had a warm winter and didn't need it so much.

China shut down and this cut 1.3m bpd from demand (3%).

Things that cooled the energy market. It cooled inflation. A softer landing.
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<div>"Why would a politician use very scarce tax dollars to go rebuy oil, send the price up, increase inflationary pressures on the Fed ... There's a very strong correlation between gasoline price and presidential approval ratings. ... We do not expect any politician to refill that reserve ever." - Eric Nuttall</div><div><br></div><div>Others expect US will begin to refill the SPR soon, given the strike price (they buy at a fixed price). <br></div><div> </div><div><br></div><div>Biden used the strategic reserve of gas (which was supposed to be for emergencies) for political reasons, to get the price at the pump down. - Rafi Tahmazian</div><div><br></div><div>Putin cut off gas to Europe. They panicked (logically) and bought gas from everywhere they could for exorbitant prices. And they had a warm winter and didn't need it so much. <br></div><div><br></div><div>China shut down and this cut 1.3m bpd from demand (3%). <br></div><div><br></div><div>Things that cooled the energy market. It cooled inflation. A softer landing. <br></div><div><br></div>
"Why would a politician use very scarce tax dollars to go rebuy oil, send the price up, increase inflationary pressures on the Fed ... There's a very strong correlation between gasoline price and presidential approval ratings. ... We do not expect any politician to refill that reserve ever." - Eric Nuttall

Others expect US will begin to refill the SPR soon, given the strike price (they buy at a fixed price).

Biden used the strategic reserve of gas (which was supposed to be for emergencies) for political reasons, to get the price at the pump down. - Rafi Tahmazian

Putin cut off gas to Europe. They panicked (logically) and bought gas from everywhere they could for exorbitant prices. And they had a warm winter and didn't need it so much.

China shut down and this cut 1.3m bpd from demand (3%).

Things that cooled the energy market. It cooled inflation. A softer landing.

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