Input | Output |
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Link | YouTube |
Published | 2022/07/08 |
Theme | |
Status | article incomplete |
Beau says:
Beau clarifies the situation around oil being sent overseas, addressing concerns about Fox News and explaining the impact on global oil prices.
Viewers concerned about accurate information on oil and gasoline.
The full transcript provides a detailed breakdown of the oil situation, including the impact of sending oil overseas and its effects on global prices.
Well, howdy there, internet people, it's Beau again.
So today we are going to talk about gas, gasoline,
and oil, and the Strategic Reserve,
and oil being sent overseas.
We're going to do this because I got a message from somebody
who said that they're a conservative who
watches to see what the other side thinks,
and they're wondering if Fox is lying to them.
Because according to the message, Fox said that Biden sent over 5 million barrels of
gasoline overseas, while prices were really high here.
He found this hard to believe because even though he views Biden as, let's just say
not smart, nobody would do that.
So my guess is that Fox isn't lying.
They are leaving things open to lead people to a false conclusion.
Did the Biden administration allow 5 million barrels of oil, not gas, to be sent overseas?
Yes.
Came out of the strategic reserve.
Why?
Because oil has to be refined.
The refineries in the United States are running at capacity.
OK, I say that.
I know somebody is going to say this.
They are running at effective capacity.
They're running at like 95.4% or 94.5%, something like that.
Theoretically, sure, they could find some way
to squeeze out that extra couple of percent,
but that's just normal.
It's normal to not be able to run at full capacity
all the time.
The Biden administration approved the release of 1 million barrels of oil per day.
So there's a backlog of oil that isn't getting processed.
That was sent overseas because oil is a global market.
If Saudi Arabia sends oil to Germany, it reduces the global oil price for crude oil.
So in theory, it will bring down oil prices, but it happens slowly because when it comes
to oil, the price goes up real fast, but it takes a while for it to go back down.
So they probably didn't lie.
They just equated oil with gas, or they left out the part about the refineries.
So will the release of this oil to export,
will that help lower the cost?
Yes, but it's a slow process.
So not really lying, just omission
of pieces of relevant information.
Anyway, it's just a thought.
Y'all have a good day.
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