Biden Passes the Buck on Inflation – Ep 815
The Peter Schiff Show Podcast
00:00
The Strategic Petroleum Reserve Is Ineffective at Stopping the Price of Oil From Going Up
This morning, the price of crude was above a hundred and 19 dollars a barrel. But then later in the day, there was some news that came out of opeck that they were thinking about suspending russia from its outlut quotas. And i guess it made traders believe that that might mean that souty arabia may be able to pump more oil and therefore increase the supply. The oil price gave up more than a four dollar gain and wen negative, before clawing its way back by the clothes. You know, if we keep selling oil now while there is no emergency, there isn't a shortage of oil, we're just paying higher prices.
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