US releasing strategic oil reserves to Chinese company that buys Russian oil

SeniorBen said:
The president was talking about on public lands...
https://www.politifact.com/factchec...-joe-biden-said-no-more-oil-drilling-and-no-/

... and he has since reversed that position.
https://www.nytimes.com/2022/04/15/climate/biden-drilling-oil-leases.html
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Did you miss the offshore bit? I watched the video, read the transcript. Go to the original source, don't trust what some "fact checker" aka 21st century "spin doctor" tells you.
 

AnnieA said:
Did you miss the offshore bit? I watched the video, read the transcript. Go to the original source, don't trust what some "fact checker" aka 21st century "spin doctor" tells you.
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Politifact is a "spin doctor?" Uh, boy. :rolleyes:
 
The US is probably pandering to China so they will think twice about joining Putin in Ukraine.
 

SeniorBen said:
Politifact is a "spin doctor?" Uh, boy. :rolleyes:
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Anytime someone feels the need to explain what a politician's words "meant" it's subjective. I don't care if it's Fox News, NYT, Politifact ...if a media source takes it upon themselves to tell me different than what someone actually said on camera that I watched myself in context, then I consider it spin. There is no unbiased news source in the United States. Read both 'sides' and try to figure out the truth as best you can...nearly an impossible feat these days.
 
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AnnieA said:
Anytime someone feels the need to explain what a politician words "meant" it's subjective. I don't care if it's Fox News, NYT, Politifact ...if a media source takes it upon themselves to tell me different than what someone actually said on camera that I watched myself in context, then I consider it spin. There is no unbiased news source in the United States. Read both 'sides' and try to figure out the truth as best you can...nearly an impossible feat these days.
Click to expand...
I trust my first instinct when I see a politician speaking on the screen. They say what is in their head and on their mind. To guess and twist after the fact is worthless to me. I watch three news channels, and still trust myself as to what is the Truth.
 
President Biden will be in Saudi Arabia this week. Looking for oil that can be produced in this country. But at this point its to late he has made it more expensive to lease, explore and drill. And the midterms are coming. <That's what they care about.
 
The people I know in the oil business tell me the reason there is not more drilling is the fear that oil prices will drop and they will lose a lot of money. That's exactly what happened the last time around, a bit over 10 years ago. It has little to do with the new regulations. I think a lot of the new regulations are stupid, but they are not the problem. To quote a news story:

As to why they weren't drilling more, oil executives blamed Wall Street. Nearly 60% cited "investor pressure to maintain capital discipline" as the primary reason oil companies weren't drilling more despite skyrocketing prices, according to the Dallas Fed survey.

Only 11% cited environmental, social or governance issues; 8% said they had difficulty getting financing; 15% cited other reasons.

https://www.cbsnews.com/news/oil-pr...mpanies-wont-increase-2022-dallas-fed-survey/
 
I suspect oil company executives understand what is going on better than anyone. But don't expect honest answers from them. Our leaders would be one tier under that in knowledge, but just as unreliable, followed down the ladder by the media, which may be more honest, but still in the dark. Then there is us, the consumers. We don't have a clue what is going on. We just do what we have to do.
 
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