It would be great if we had a filled SPR. Thanks Joe. And don't tell me it's the Republicans fault he did it. We've been over that already. They weren't in power when Joe did it. THAT is one of the reasons they took power in the mid-terms.

(04-29-2026 10:47 AM)Eagleaidaholic Wrote:  It would be great if we had a filled SPR. Thanks Joe. And don't tell me it's the Republicans fault he did it. We've been over that already. They weren't in power when Joe did it. THAT is one of the reasons they took power in the mid-terms.

AGAIN, the levels in the SPR has basically nothing to do with the current price of oil and gas. NOTHING! It's oil not on the market. It's basically as oil still in the ground that hasn't been drilled. So it has no effect on the global supply when it comes to supply and demand, which determines prices.

And AGAIN, as I've explained many times now, Biden tried to take credit for selling much of oil from the SPR...when in fact those sales were mostly all authorized by congressional action. And much of that action occurred when trump was president. These are facts not in dispute no matter how much you want to ignore and obfuscate.

Quote:Congress has also increasingly treated the SPR less as a strategic asset and more as a budgetary offset. Because receipts from SPR oil sales are counted as “offsetting receipts” in the federal budget, lawmakers used mandated drawdowns to help finance higher spending in major legislation while making those bills appear deficit neutral on paper. Since 2015, 280 million barrels have been drawn from the reserve to achieve budgetary offsets from spending. This includes:

- 58 million barrels under the Bipartisan Budget Act of 2015
- 66 million barrels under the Fixing America’s Surface Transportation Act Act (2016)
- 35 million barrels under the 21st Century Cures Act (2016)
- 7 million barrels under the Tax Cuts and Jobs Act (2017)
- 100 million barrels under the Bipartisan Budget Act of 2018
- 15 million barrels under the America’s Water Infrastructure Act (2018)

These sales generated billions of dollars in budgetary “offsets,” but they also significantly reduced the nation’s ability to confront a true oil supply emergency. As a result, when genuine geopolitical crises such as the current one threaten global supply, the reserve is far smaller than policymakers originally intended.

A Legislative ATM: Oil Crisis Exposes How Washington Drained the Strategic Petroleum Reserve

Lastly, the SPR has to maintain a certain level...and it cannot fall below that level...and we haven't. Although many would argue that in theory we could actually drain the whole thing since we are no longer a net importer so the low minimum law may not even apply.

Anytime we want the president has within his power the ability to declare a national emergency and forbid the export of domestic oil out of the US. We have easy access to Canadian and Venezuelan sources heavy crude we can mix with our lighter sweeter crude to produce a weight of crude required by any US refinery. So this idea that an out of control world wide oil price spiral will create US gas shortages or make gas unaffordable is not going to ever happen because the US has the ability to cut ourselves off from the world market if necessary. Even under this scenario, we'd still end up exporting some oil because we dont actually need all the light sweet crude we produce.

Holy ****, never seen this before ever in my life.

Went to Meijer yesterday afternoon...gas was $4.19. I decided to wait to fill up after a quick trip into the store. By the time I came out 20 minutes later, gas was now $4.99. 80 cent jump in one day.

National average up another 8 cents from yesterday, now at $4.30.
https://gasprices.aaa.com/

(04-30-2026 08:54 AM)Redwingtom Wrote:  Holy ****, never seen this before ever in my life.

Went to Meijer yesterday afternoon...gas was $4.19. I decided to wait to fill up after a quick trip into the store. By the time I came out 20 minutes later, gas was now $4.99. 80 cent jump in one day.

National average up another 8 cents from yesterday, now at $4.30.
https://gasprices.aaa.com/

$3.59 locally.

(04-29-2026 06:52 AM)Eldonabe Wrote:  If this is the (temporary) cost for a safer planet... I'll pay $5....

Exactly how I feel. Idiots don't understand the ramifications of a nuclear armed Iran. They want to believe that they are nice Muslims when it's just the opposite. They also have a short memory of all the killings that the Ayatoilets have caused world wide and especially in the middle east. Gaza being bombed to shreds was a product of their being violent and stupid. Don't mess with the Israelis if you want to live.

(04-30-2026 09:20 AM)VA49er Wrote:  

(04-30-2026 08:54 AM)Redwingtom Wrote:  Holy ****, never seen this before ever in my life.

Went to Meijer yesterday afternoon...gas was $4.19. I decided to wait to fill up after a quick trip into the store. By the time I came out 20 minutes later, gas was now $4.99. 80 cent jump in one day.

National average up another 8 cents from yesterday, now at $4.30.
https://gasprices.aaa.com/

$3.59 locally.

Yep. Same here. People were spoiled when fuel prices were in the low $2/gal range. Fuel prices are lower now in relation to inflation and wages than it has ever been.....STILL. Also, I'm still waiting for the unemployment, inflation and GDP posts on the news that came out today.

(04-30-2026 09:20 AM)VA49er Wrote:  

(04-30-2026 08:54 AM)Redwingtom Wrote:  Holy ****, never seen this before ever in my life.

Went to Meijer yesterday afternoon...gas was $4.19. I decided to wait to fill up after a quick trip into the store. By the time I came out 20 minutes later, gas was now $4.99. 80 cent jump in one day.

National average up another 8 cents from yesterday, now at $4.30.
https://gasprices.aaa.com/

$3.59 locally.

Same here. And I expect Tom to report when it falls back 8 cents, also.

I mean, he was so Johnny-on-the-Spot when Biden era gas went over $5.

$4.40-$4.99 here in SW Ohio. I don't think its ever been this high.

This is the highest it's been in Raleigh since... well, maybe Katrina?

(04-30-2026 10:01 AM)mlb Wrote:  $4.40-$4.99 here in SW Ohio. I don't think its ever been this high.

Quick AI search:

The highest national average gas price per gallon in the United States during the Biden administration (January 2021–January 2025) was $5.016, reached on June 14, 2022.

(04-30-2026 09:44 AM)Eagleaidaholic Wrote:  

(04-30-2026 09:20 AM)VA49er Wrote:  

(04-30-2026 08:54 AM)Redwingtom Wrote:  Holy ****, never seen this before ever in my life.

Went to Meijer yesterday afternoon...gas was $4.19. I decided to wait to fill up after a quick trip into the store. By the time I came out 20 minutes later, gas was now $4.99. 80 cent jump in one day.

National average up another 8 cents from yesterday, now at $4.30.
https://gasprices.aaa.com/

$3.59 locally.

Yep. Same here. People were spoiled when fuel prices were in the low $2/gal range. Fuel prices are lower now in relation to inflation and wages than it has ever been.....STILL. Also, I'm still waiting for the unemployment, inflation and GDP posts on the news that came out today.

Yeah, you're going to have to back that claim up with some actual data.

And the first estimate for GDP for the first quarter is already out. 2% growth at this point. But it's the early estimate and will be subject to 2 more revisions in May and June.

(04-30-2026 10:03 AM)TripleA Wrote:  

(04-30-2026 10:01 AM)mlb Wrote:  $4.40-$4.99 here in SW Ohio. I don't think its ever been this high.

Quick AI search:

The highest national average gas price per gallon in the United States during the Biden administration (January 2021–January 2025) was $5.016, reached on June 14, 2022.

Sorry, I wasn't talking nationally, I'm talking in my little part of the world.

(04-30-2026 10:04 AM)mlb Wrote:  

(04-30-2026 10:03 AM)TripleA Wrote:  

(04-30-2026 10:01 AM)mlb Wrote:  $4.40-$4.99 here in SW Ohio. I don't think its ever been this high.

Quick AI search:

The highest national average gas price per gallon in the United States during the Biden administration (January 2021–January 2025) was $5.016, reached on June 14, 2022.

Sorry, I wasn't talking nationally, I'm talking in my little part of the world.

Well, $4.99 is pretty close to $5.01.

Yeah, I just don't remember it ever hitting close to $5. Maybe I blocked that out of my mind, however. I think of California having $5 gas while the rest of us were paying $3.50.

(04-30-2026 09:20 AM)VA49er Wrote:  

(04-30-2026 08:54 AM)Redwingtom Wrote:  Holy ****, never seen this before ever in my life.

Went to Meijer yesterday afternoon...gas was $4.19. I decided to wait to fill up after a quick trip into the store. By the time I came out 20 minutes later, gas was now $4.99. 80 cent jump in one day.

National average up another 8 cents from yesterday, now at $4.30.
https://gasprices.aaa.com/

$3.59 locally.

What was it before the excursion?

(04-30-2026 10:09 AM)Redwingtom Wrote:  

(04-30-2026 09:20 AM)VA49er Wrote:  

(04-30-2026 08:54 AM)Redwingtom Wrote:  Holy ****, never seen this before ever in my life.

Went to Meijer yesterday afternoon...gas was $4.19. I decided to wait to fill up after a quick trip into the store. By the time I came out 20 minutes later, gas was now $4.99. 80 cent jump in one day.

National average up another 8 cents from yesterday, now at $4.30.
https://gasprices.aaa.com/

$3.59 locally.

What was it before the excursion?

Mine was $2.94, IIRC.

(04-30-2026 10:06 AM)mlb Wrote:  Yeah, I just don't remember it ever hitting close to $5. Maybe I blocked that out of my mind, however. I think of California having $5 gas while the rest of us were paying $3.50.

The scary part is we're not close to done yet. And the industry is seeing things not seen in decades, if ever. Wholesale prices going through the roof. Gas and diesel inventories straining due to all those empty ships coming this way that many here were giddy about.

For context, with the gas shortages back in the 70's, the price at the pump didn't peak until about 6 months after it ended, and double-digit inflation lagged by about 9 months. And this global shortage is probably around 4 times worse.

(04-30-2026 10:11 AM)TripleA Wrote:  

(04-30-2026 10:09 AM)Redwingtom Wrote:  

(04-30-2026 09:20 AM)VA49er Wrote:  

(04-30-2026 08:54 AM)Redwingtom Wrote:  Holy ****, never seen this before ever in my life.

Went to Meijer yesterday afternoon...gas was $4.19. I decided to wait to fill up after a quick trip into the store. By the time I came out 20 minutes later, gas was now $4.99. 80 cent jump in one day.

National average up another 8 cents from yesterday, now at $4.30.
https://gasprices.aaa.com/

$3.59 locally.

What was it before the excursion?

Mine was $2.94, IIRC.

I thought trump said gas was $2?

I can only assume you all live in the mid-south and/or close to Oklahoma.

(04-30-2026 10:17 AM)Redwingtom Wrote:  

(04-30-2026 10:11 AM)TripleA Wrote:  

(04-30-2026 10:09 AM)Redwingtom Wrote:  

(04-30-2026 09:20 AM)VA49er Wrote:  

(04-30-2026 08:54 AM)Redwingtom Wrote:  Holy ****, never seen this before ever in my life.

Went to Meijer yesterday afternoon...gas was $4.19. I decided to wait to fill up after a quick trip into the store. By the time I came out 20 minutes later, gas was now $4.99. 80 cent jump in one day.

National average up another 8 cents from yesterday, now at $4.30.
https://gasprices.aaa.com/

$3.59 locally.

What was it before the excursion?

Mine was $2.94, IIRC.

I thought trump said gas was $2?

I can only assume you all live in the mid-south and/or close to Oklahoma.

it was 2.49 in the 'burg before Operation Fury began...

it was 1.39 before muh branch covidians and the *bidet era...