The price of oil is tanking. The Treasury has also just removed a number of Venezuelan government officials from the sanctioned individuals list. I've seen no one connect the two together but maybe a sign that Biden is going to roll back some of Trump's failed regime change sanctions on Venezuela which would help with oil prices around the world if they are allowed to sell oil again
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>HOLY SHIT GUIS IT WENT FROM 120 TO 106 IGNORE THE FACT THAT IT WENT UP FROM 60 TO 120 A FEW MONTHS BACK THOUGH!!! BASED JOE BIDEN !!
Great.
So next time Venezuela decides to appropriate and nationalize hundreds of millions of dollars US-owned wells and oilfield equipment like they did 10 years ago, they'll know that we won't do shit about it.
Gimme that gas jack
Do we have a new oil-rich dictatorship that the state department loves?
venezuelan oil is shit
refining costs will go through the roof
I mean with the price of gas at $5 that's certainly not a problem whatsoever
Globalist abandoned this push for green energy once before due to it was going to cost them in the election. They are worried about the midterm election. Hopefully people don’t get complacent and forget about the past 2 years come November. If conservatives take the house there a possibility of them owning both if they actually investigated corruption in our own government officials.
The us released it's strategic reserves to help Biden and Dems recover public favor...
It's supposed to be for when there's no oil left and the military can still run.
>oil goes up 999999%
well actually it's not biden's fault
>oil goes down 10%
see? biden's doing it!
Biden runs around like a headless rooster.
Trying to gain some supporters.
Nigga fucked up relations with saudis, didnt gain shit in Venezuela, nor Iran.
In few days he gonna personally exclude Putin from sanctions and Russia altogether.
Fuck, america is falling
This is a little silly he's releasing 1 million barrels a day and USA exports 3.5 million barrels per day of it's domestic production per day
He's also only releasing around 30% of it which amounts to 15 days of America's domestic production
Removing the sanctions from Venezuela is a good way to make it so that isn't needed btw because they are releasing heavy crude from it because USA is currently sanctioning 3 heavy crude producing nations : Iran, Venezuela, and Russia. heavy and light crude are not interchangeable. Releasing it is actually the only time the reserve has ever been used strategically and can just be refilled at a lower price later. They've also been emptying ( far far slower) for like 8 years as part of congressionally approved bills to raise revenue
SRP draw finally making effects in the market, it won't last long (just like last time).
if you want to stop releasing that crude from the reserve and maintain your sanctions, the only way to do that, that is in his power is to either remove sanctions from either Venezuela, Iran, or Russia.
I'd think it probably has more to do with this since they've been doing that for quite some time, whereas I believe this right here is the first we are hearing about additional countries being granted license to purchase oil from Venezuela by USA. Maybe though
Venezuelan oil cargo for Eni departing, supertanker to load next -document, sources | Reuters - reuters.com
June 17 (Reuters) - A 650,000-barrel-cargo of Venezuela's heavy crude chartered by Italy's oil company Eni (ENI.MI) is about to set sail carrying the first export of crude to Europe from the U.S.-sanctioned country in two years, following an authorization granted by Washington in May, Refinitiv Eikon data showed on Friday.
They sized a GM plant and nationalized it too
>The Trump administration’s plan to top off the Strategic Petroleum Reserve ran into a blockade Wednesday after lawmakers excluded $3 billion in funding for oil purchases from the massive stimulus package before Congress. Senate Democrats took credit for stripping out that money from the Senate bill, unveiled Wednesday, calling it a “bailout” for the oil industry.
Remember when barrels of crude were $1 during the shutdown under Trump, and Congress refused to pass bills to stock up reserves. Really activates the almonds
Silly is a good way to describe the current administration
Nigger
Both cases sound a little more complicated than a simple nationalization. USA seized billions back under trump so it's fair now i guess? USA going for all them yachts now too so it's like pot calling the kettle black at this point
Exxon, Conoco Exit Venezuela Under Pressure - WSJ - wsj.com
GM's judgment day: How two Venezuelan car dealers seized an auto factory | Reuters - reuters.com
Liquidity collapse Powell fucked up
Memezuela commies stole us companies before sanctions way more years before actually.