Strategic Oil Reserves Emptying Fast

https://www.bloomberg.com/opinion/articles/2022-06-17/the-us-is-depleting-its-strategic-petroleum-reserve-faster-than-it-looks

by worker_person • 4 years ago

2 8 4 years ago

bloomberg.com

PaulHoule3• 4 years ago

It's disappointing that Biden's first instinct is to try to lower petroleum prices when we know, in the long term, we need to wean ourselves off the stuff.

That is, high market prices for petroleum will fuel the clean energy transition without the government having to take any action.

Biden seems reluctant to ask people to make any sacrifice at all, he's always looking for the easy way out. Perhaps he thinks asking for sacrifices is borrowing against legitimacy he doesn't have, but asking for sacrifices might work the other way: "Don't ask what your country can do for you, ask what you can do for your country."

logicalmonster3• 4 years ago

There's some comments that are a bit elitist and out-of-touch feeling, and then there's this.

I don't know how this can be said any clearer. People who are facing real poverty and worried about being in breadlines for perhaps the first time (assuming that there's any bread available given that the entire system for making, processing, and transporting food depends on fuel and people are already talking about potential global famine) aren't going to wax poetic about the vague climate change predictions and the sacrifice needed when their families are scared and desperate.

PaulHoule3• 4 years ago

Short term thinking is signing the death warrant on mankind one way or another.

You'd better be praying that some billionaire invests in

https://en.wikipedia.org/wiki/Stratospheric_aerosol_injectio...

because that's the only answer that people who think they are poor will tolerate.

raxxorraxor• 4 years ago

Agreed. I don't care if I pay double for energy, food and heating, but this will be devastating for the average wealth of western nation citizens overall and many jobs won't be sustainable anymore. This will also reach tech at some point if the last consumers set priorities elsewhere.

The US is particularly oil hungry but there should be no illusion that humanity or any nation will use less energy today than it used yesterday. The only salvation would be alternative forms of energy, not elevating energy to a luxury good. If that happens wealth in developed countries will quickly melt.

Poor, hungry or cold people don't care about the environment. We already saw heavy deterioration of ecological goals due to prices and certain conflicts.

Strategic Oil Reserves Emptying Fast

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