Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

Economy

progree

(11,463 posts)

7. I doubt it very much that releasing what amounts to 1.2% of daily world production brought

Reply to Warpy (Reply #6)

Tue Jul 26, 2022, 01:00 PM

Jul 2022

gasoline prices down by several dollars a gallon here or in Europe (relative to what they would be without the release). Nor do I think any economist believes that either. None that I've read or heard of.

Slowing world economies might have more to do with it -- e.g. U.S. Q1 GDP down 1.6% annualized, headlines about Germany and more broadly Europe on the cusp of recession, and consumers reacting to higher prices.

But let's leave it as a difference of opinion between two message board randos about how effective it was. I'm glad he did the SPR release too.

Edit history

Please sign in to view edit histories.

7 replies

= new reply since forum marked as read

Highlight:

WTI Crude 93.79 [View all] multigraincracker Jul 2022 OP

whats crazy is all of the support businesses gay texan Jul 2022 #1

Joe did that Walleye Jul 2022 #2

I hope not. It was less than $56 when he took office progree Jul 2022 #3

Without his timely release of oil from the strategic reserve Warpy Jul 2022 #4

The oil market is a world market. The main reason for high gasoline prices in Europe is the progree Jul 2022 #5

Without his timely releasre from the strategic reserve Warpy Jul 2022 #6

I doubt it very much that releasing what amounts to 1.2% of daily world production brought progree Jul 2022 #7