Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

General Discussion

Trekologer

(1,043 posts)

9. The administration has been quietly using the strategic petroleum reserve to stabilize prices

Reply to Takket (Reply #6)

Wed Jul 17, 2024, 12:37 PM

Jul 17

The reserve has been releasing oil when the market price ticks up (pushing it back down again) and then buying to refill it when the market price drops back down. It has both stabilized gas prices and cut the legs out from under OPEC.

Edit history

Please sign in to view edit histories.

18 replies

= new reply since forum marked as read

Highlight:

Trump trying to bully the Fed to stop anticipated interest rate cuts before election because it would "boost Biden" [View all] bigtree Jul 17 OP

Let's hope Powell doesn't listen. These rates should have dropped already FloridaBlues Jul 17 #1

Does Powell work for Trump or the American people? Irish_Dem Jul 17 #2

We asked the SCOTUS the same question for months before the imunity ruling Bengus81 Jul 18 #15

Running out of hope. mountain grammy Jul 17 #3

I fear Powell listens to the oligarchs nt Wicked Blue Jul 17 #12

Same with the budget deficit. Qutzupalotl Jul 17 #4

Here in Florida ScratchCat Jul 17 #8

Oh well atreides1 Jul 17 #10

Trump appointed him ScratchCat Jul 17 #5

Biden should cut the rate to zero in October. Takket Jul 17 #6

The administration has been quietly using the strategic petroleum reserve to stabilize prices Trekologer Jul 17 #9

True...and Biden gets ZERO CREDIT for lowering prices at the pump and then buying Oil LOW to refill Bengus81 Jul 18 #17

Thanks for posting this, gab13by13 Jul 17 #7

All indications point to a cut in September Fiendish Thingy Jul 17 #14

These actions will hurt him, I predict. Nt BootinUp Jul 17 #11

The DOW is rocking at 41188 Historic NY Jul 17 #13

Yeah... but Biden needs to go. Just ask Schiff,Riner and Clooney and dozens of other Dem reps. Bengus81 Jul 18 #18

An effin evil piece of shit malaise Jul 18 #16