ErnestEndeavor said:
Seeing a lot of X reports that wholesale gasoline prices are about to jump. I can't confirm that. One of them is from the Gasbuddy Guy saying he's seeing there might be a huge spike in gas prices in the midwest in the next day.
twelve12twelve said:
Just in time for there to another two week extension to the ceasefire.
Sims said:
Even with higher prices, demand destruction hasn't showed up....yet.
Sims said:
I just meant to address the fact that higher prices aren't causing people to stop driving/using gas yet.
fullback44 said:Sims said:
I just meant to address the fact that higher prices aren't causing people to stop driving/using gas yet.
gocha... read it wrong. Yeah I agree, people driving all over the place like normal!
No Spin Ag said:fullback44 said:Sims said:
I just meant to address the fact that higher prices aren't causing people to stop driving/using gas yet.
gocha... read it wrong. Yeah I agree, people driving all over the place like normal!
There was a story this morning talking about the latest jump in gas prices and how they'll affect summer vacation trips. That along with the jump in airplane tickets, will be the true test of the higher prices actually causing people to change their spending habits.
There was one oil guy on there talking about how the current prices could stay at this level for the rest of the year, even if the war ended soon.
Anyone know how that could happen?
No Spin Ag said:fullback44 said:Sims said:
I just meant to address the fact that higher prices aren't causing people to stop driving/using gas yet.
gocha... read it wrong. Yeah I agree, people driving all over the place like normal!
There was a story this morning talking about the latest jump in gas prices and how they'll affect summer vacation trips. That along with the jump in airplane tickets, will be the true test of the higher prices actually causing people to change their spending habits.
There was one oil guy on there talking about how the current prices could stay at this level for the rest of the year, even if the war ended soon.
Anyone know how that could happen?
docb said:
So will we ever see diesel prices in the low 3$ range ever again? I'm thinking it was even sub 3$ before this Iran stuff stared.
The US is draining its oil reserves at a rapid pace:
— The Kobeissi Letter (@KobeissiLetter) April 30, 2026
The Strategic Petroleum Reserve (SPR) dropped -7.12 million barrels last week, the largest weekly drawdown since October 2022.
This marks the 5th consecutive weekly decline, the longest streak since 2023.
Over this period,… pic.twitter.com/0FxbdTAuZh
will25u said:The US is draining its oil reserves at a rapid pace:
— The Kobeissi Letter (@KobeissiLetter) April 30, 2026
The Strategic Petroleum Reserve (SPR) dropped -7.12 million barrels last week, the largest weekly drawdown since October 2022.
This marks the 5th consecutive weekly decline, the longest streak since 2023.
Over this period,… pic.twitter.com/0FxbdTAuZh
Sims said:will25u said:The US is draining its oil reserves at a rapid pace:
— The Kobeissi Letter (@KobeissiLetter) April 30, 2026
The Strategic Petroleum Reserve (SPR) dropped -7.12 million barrels last week, the largest weekly drawdown since October 2022.
This marks the 5th consecutive weekly decline, the longest streak since 2023.
Over this period,… pic.twitter.com/0FxbdTAuZh
Well gosh, they couldn't have picked a more convenient time frame to graph.
Biden drew down the SPR by 291M bbls. The SPR has been drawn down by 17M bbls as a result of the Iran conflict so far (this is different than the authorized amount not yet withdrawn). We're still 50M barrels ahead of where Biden ran it down to for VOTES.
No Spin Ag said:Sims said:will25u said:The US is draining its oil reserves at a rapid pace:
— The Kobeissi Letter (@KobeissiLetter) April 30, 2026
The Strategic Petroleum Reserve (SPR) dropped -7.12 million barrels last week, the largest weekly drawdown since October 2022.
This marks the 5th consecutive weekly decline, the longest streak since 2023.
Over this period,… pic.twitter.com/0FxbdTAuZh
Well gosh, they couldn't have picked a more convenient time frame to graph.
Biden drew down the SPR by 291M bbls. The SPR has been drawn down by 17M bbls as a result of the Iran conflict so far (this is different than the authorized amount not yet withdrawn). We're still 50M barrels ahead of where Biden ran it down to for VOTES.
You really think this isn't for votes this time with all signs pointing to Dems having good odds in November?
Besides, when it comes to what a politician does, how doesn't it boil down to votes?
Sims said:No Spin Ag said:Sims said:will25u said:The US is draining its oil reserves at a rapid pace:
— The Kobeissi Letter (@KobeissiLetter) April 30, 2026
The Strategic Petroleum Reserve (SPR) dropped -7.12 million barrels last week, the largest weekly drawdown since October 2022.
This marks the 5th consecutive weekly decline, the longest streak since 2023.
Over this period,… pic.twitter.com/0FxbdTAuZh
Well gosh, they couldn't have picked a more convenient time frame to graph.
Biden drew down the SPR by 291M bbls. The SPR has been drawn down by 17M bbls as a result of the Iran conflict so far (this is different than the authorized amount not yet withdrawn). We're still 50M barrels ahead of where Biden ran it down to for VOTES.
You really think this isn't for votes this time with all signs pointing to Dems having good odds in November?
Besides, when it comes to what a politician does, how doesn't it boil down to votes?
It's for votes in the sense that global price instability would dampen Repubs chances for reelection. Let's just say he has better cover than Biden ever did.
The point is also reinforced by observing that sans Iran conflict, Trump was actively refilling the SPR rather than draining it...for votes.
Premium said:
It's a STRATEGIC reserve, a war with Iran is a STRATEGIC time to use it. Very different than Biden...
No Spin Ag said:Premium said:
It's a STRATEGIC reserve, a war with Iran is a STRATEGIC time to use it. Very different than Biden...
True, but Trump attacked them. We weren't attacked.
And while I 1,000% support it, had he not there'd be no need for the reserve being used.
No Spin Ag said:Sims said:No Spin Ag said:Sims said:will25u said:The US is draining its oil reserves at a rapid pace:
— The Kobeissi Letter (@KobeissiLetter) April 30, 2026
The Strategic Petroleum Reserve (SPR) dropped -7.12 million barrels last week, the largest weekly drawdown since October 2022.
This marks the 5th consecutive weekly decline, the longest streak since 2023.
Over this period,… pic.twitter.com/0FxbdTAuZh
Well gosh, they couldn't have picked a more convenient time frame to graph.
Biden drew down the SPR by 291M bbls. The SPR has been drawn down by 17M bbls as a result of the Iran conflict so far (this is different than the authorized amount not yet withdrawn). We're still 50M barrels ahead of where Biden ran it down to for VOTES.
You really think this isn't for votes this time with all signs pointing to Dems having good odds in November?
Besides, when it comes to what a politician does, how doesn't it boil down to votes?
It's for votes in the sense that global price instability would dampen Repubs chances for reelection. Let's just say he has better cover than Biden ever did.
The point is also reinforced by observing that sans Iran conflict, Trump was actively refilling the SPR rather than draining it...for votes.
True. Before we attacked Iran he was cleaning up Biden's mess with the SPR.
Congress needs to do something that keeps a president from just being able to say, "okay, I'll open the reserves cause people are paying a little more in gas so it'll help my team in the election." It really should require so much more than that.
Premium said:
It's a STRATEGIC reserve, a war with Iran is a STRATEGIC time to use it. Very different than Biden...
TexAgs91 said:No Spin Ag said:Sims said:No Spin Ag said:Sims said:will25u said:The US is draining its oil reserves at a rapid pace:
— The Kobeissi Letter (@KobeissiLetter) April 30, 2026
The Strategic Petroleum Reserve (SPR) dropped -7.12 million barrels last week, the largest weekly drawdown since October 2022.
This marks the 5th consecutive weekly decline, the longest streak since 2023.
Over this period,… pic.twitter.com/0FxbdTAuZh
Well gosh, they couldn't have picked a more convenient time frame to graph.
Biden drew down the SPR by 291M bbls. The SPR has been drawn down by 17M bbls as a result of the Iran conflict so far (this is different than the authorized amount not yet withdrawn). We're still 50M barrels ahead of where Biden ran it down to for VOTES.
You really think this isn't for votes this time with all signs pointing to Dems having good odds in November?
Besides, when it comes to what a politician does, how doesn't it boil down to votes?
It's for votes in the sense that global price instability would dampen Repubs chances for reelection. Let's just say he has better cover than Biden ever did.
The point is also reinforced by observing that sans Iran conflict, Trump was actively refilling the SPR rather than draining it...for votes.
True. Before we attacked Iran he was cleaning up Biden's mess with the SPR.
Congress needs to do something that keeps a president from just being able to say, "okay, I'll open the reserves cause people are paying a little more in gas so it'll help my team in the election." It really should require so much more than that.
Depending on who's in power, lowering the price of oil by using the SPR for votes could be a legitimate use of the SPR if it means keeping marxists out of power. That ties directly into national security.
Conversely, using the SPR to keep marxists in power is a threat to national security.
flown-the-coop said:No Spin Ag said:Premium said:
It's a STRATEGIC reserve, a war with Iran is a STRATEGIC time to use it. Very different than Biden...
True, but Trump attacked them. We weren't attacked.
And while I 1,000% support it, had he not there'd be no need for the reserve being used.
Seems more "strategic" to take preemptive action on Iran than it is to be reactive.
I do not think your rationale here holds up much.
flown-the-coop said:
Sometimes it can simply serve to tame the markets / stabilize which I guess one could still tie to votes.
We remain 6 months from the election. Not sure tapping the SPR in May is buying votes in November. So much potential for change that would negate this that make it seem less likely its just blatant vote buying.
flown-the-coop said:
Sometimes it can simply serve to tame the markets / stabilize which I guess one could still tie to votes.
We remain 6 months from the election. Not sure tapping the SPR in May is buying votes in November. So much potential for change that would negate this that make it seem less likely its just blatant vote buying.
Kansas Kid said:flown-the-coop said:
Sometimes it can simply serve to tame the markets / stabilize which I guess one could still tie to votes.
We remain 6 months from the election. Not sure tapping the SPR in May is buying votes in November. So much potential for change that would negate this that make it seem less likely its just blatant vote buying.
A lot of people on here claimed Biden tapped the SPR a year before the midterm to try to buy votes (I concur btw). So why would this time be different?
