Biden Won't Refill Strategic Oil Reserve

Peter Schiff on OAN Real America with Dan Ball. Recorded 4/4/2024
#inflation #economy #debt
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[@DorathyJoy]

Since Biden took office, there seem to have been more unfavorable results in America. These results include effects on the markets, such as price declines and sharp increases in inflation, as well as bank failures. I wonder if the sudden increase in interest rates will help value investors or if it would be wiser to stay away from the stock and financial markets for the time being.

[@HectorWhitney]

To "buy the dip" It will be profitable in the long run. However, investors should be wary of the bull run. It is advisable to connect with a skilled adviser to fulfill your growth objectives and prevent mistakes. High interest rates typically result in lower stock prices.

[@bernadofelix]

Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.

[@SandraDave.]

Interesting! Good day! Although I'm new to investing, I've heard that now is a wonderful time to buy. I have some money in my bank account that is just sitting there, and I really want to make it work for me, especially with the current rate of inflation being so high. Do you have any knowledge about this coach who supports you? I'd like to research them and find out more.

[@bernadofelix]

There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.

[@user-ln7of9gs4s]

🚨🚨🚨scam alert. Be aware of fake conversations and recommending random people to invest with in comments. Don’t be stupid.

[@kortyEdna825]

The only American who won't acknowledge this Administration's failed economic policies is Joe Biden. "Shrink-flation' is the least of our worries compared to rising rents and stagnant wages, but it is an undeniable indicator of how bad our inflation has gotten. I have $100k that i like to invest in a non-retirement account, any advice on that?

[@Pamela.jess.245]

I would avoid index funds, mutual funds, and specific stocks for the time being. Right now, the best option is a fixed income of five percent. Put money aside for the times when the market really starts to bounce back.

[@nothanks9503]

Give it to me so I can get surgery and also take some classes

[@harrymills2770]

SPAM THREAD!

[@joeyjoejoejunior3859]

SCAM, SCAM, SCAM.

[@robertk1834]

Don't worry, immigrants are getting all the new job growth while permanent full time work is being eliminated. Recipe for a bright future!

[@franktuccillo6097]

If they reported the CPI like they did in the late 70s we would be at 8%

[@kinghoju]

At least

[@worldsdumbesttrumpturd....3143]

No. Stop making shit up

[@mhughes1160]

The Easter Bunny 🐰 and Andy Panda 🐼 Sittin in a tree k I S S I N G selling out our country to cchhyyynnaa . LoL 😂 Oh that joe. Smmmhhh 😐

[@worldsdumbesttrumpturd....3143]

Fake news grandpa

[@shadowbanned4days]

Higher!

[@SPARTAN-RESOLVE]

Brandon should of never sold it off in the first FCKn place!! FJB 💪🇺🇸

[@alh961]

Gas went up to 4.05 today FJB

[@max41050]

5.50 in California

[@mbojilov1]

Should of??

[@diogeneslaertius3365]

@@mbojilov1 y r u axing questions like dat? Born yesterday? Some people talk like that. Get used to it fam.

[@tomnassar5884]

Shadowman86, biden had to help his party during the mid-terms. He'd sell everything that isn't nailed to the floor to win elections.

[@marktheaardvark7208]

Drill, baby drill 🛢️🛢️🛢️🛢️🛢️🛢️🛢️ Drop out of the Paris climate accord (again) Tell the UN, WEF and EU to go FO. Seal the border Stop voting blue

[@mrmustangman]

✔

[@nothanks9503]

Biden gave more permits to drill than trump oil companies refused to drill to drive up the price of oil that’s where the increased price is coming from thats why Biden released the strategic reserve oil to bring down prices

[@blackrhino3442]

That’s how it’s done.

[@garywilliams6295]

Amen

[@dendres95608]

Mark if you run for the presidency, You'll have my vote!!!

[@28gbb]

Love to see Peter enjoying macro developments and his correct predictions coming true

[@googoolac1060]

It's been a slow roll and now we're here

[@2Oldcoots]

Result: American National Security becomes weaker and weaker. Thanks Joey.

[@3er328]

And Obumer

[@e8iMm7KE999]

That is his goal. The collapse of the country is his ultimate goal

[@harrymills2770]

Democrats and politicians in general, always stick their noses where they're not needed, and refuse to do the job they were elected to do.

[@brentevje5939]

I am sure the money that they got for selling the oil was spent on something stupid

[@SPARTAN-RESOLVE]

Pockets getting lined that's what it filled fuck this congress & administration

[@64timesaround]

Illegal aliens

[@Git-R-Done1967]

Traffic children drugs you name it

[@blackrhino3442]

Climate activist.

[@Gnomemansgarage]

yah there congressional bomb shelters that they all built in the last 3 years look it up

[@gartwilliams3347]

FJB!

[@christopherschlacter4953]

We currently have 5 years of reserve in the US. Also US oil production is at all time highs as America is now the largest fossil fuel producing nation on earth.....Fuck you MAGA MORON the truth is, and will always be like poison to you gullible rubes. You nitwits actually enjoy being duped

[@JE-bd3wu]

Yet repubes voted to close the northeast gas reserve and no one cares

[@michaelcostin2384]

RIGHT!!!

[@nothanks9503]

Where are you from

[@derikuk2967]

So where are all those EVs? Oh yeah, there is no existing electrical grid that can power them. Wind and solar is not going to do it. It takes a lifetime to permit nuclear power. So what's left? Where is the investment capital coming from?

[@matthewcarroll2533]

some assholes pocket, that's where.

[@genestone4951]

If an engineer had designed an energy transition plan it would be fine; but nope, it was id 10 T's.

[@nodemever3291]

The electricity to power those EV charging stations is generated by plants burning natural gas and coal but before there exists a nationwide network of charging stations they will regulate the natural gas and coal plants out of existence Every climate change green energy pollution curbing plan enacted puts money into big corporations and politicians pockets most are government subsidized and do nothing to"protect" the environment but are huge kickback producers Think Solindra

[@arizonaarmadillo5829]

How is he gonna fill it at nearly $100/barrel? Joe says to wait until it's $200 a barrel, it'll cause more inflation that way.

[@Git-R-Done1967]

😂😂

[@mrmustangman]

joe is an !d!0t.... he sells it at 50 and buys it at 100

[@franktuccillo6097]

Get Peter on more often

[@lard_lad_AU]

The trouble is most Americans don’t like bad news. They’ll vote for the politicians that kick the can down the road rather than deal with the problem : big government living beyond its means

[@JasonAldeann-bt4xf]

Other countries are fixing to kick the can back to us

[@DavidSimpsonSpecialForces]

Your absolutely correct! The U.S. economy in nothing but a house of cards being supported by a fiat currency!

[@OVERHERE-OVERHERE]

In Denial!

[@OVERHERE-OVERHERE]

What is a dollar crisis…

[@mr.brenman2132]

@lard_lad_AU Americans like you don't seem to understand that the economy is less important then stopping what's happening at the southern border. The economy can be fixed. That change can't be fixed. And the future of government and America as a whole depends on stopping that invasion. It's the worst crisis America has ever faced.

[@gimmeshelter1969]

Peter Schiff looks smarter and more prescient with each passing day. I was doubtful that his predictions for a surge in the price of gold in tandem with surging inflation would come true. But I am a believer now. His criticism of Jerome Powell is also spot on; Powell appears to be as clueless about the the inflation problem as Schiff has claimed him to be. Just look at oil; it is currently threatening $90!

[@SamuelClemente7718]

😂😂😂😂. No mammm333$$$

[@rwalkenhorst]

Who needs petroleum when we can charge our magical batteries with bird choppers and hail magnets? 😆

[@peterdaniel66]

This alone is grounds for treason

[@SCole-gt7qq]

Imagine if we could drill our own oil?

[@SandwichKing-lj4ej]

Nice line on campaign trail to have drained hundreds of millions of barrels and refill a couple million at end and tout they’ve added millions of barrels to the reserve.

[@johnaltobello5095]

His Chinese boss won't let him..

[@jkalibeelz4339]

Isnt this illegal? Then again noone w the power to investigate, will ever do so. Sadly a sick fact..

[@richardrodriguez-dj1xn]

Time to go grocery shopping.

[@dolothedon6319]

😂😂😂

[@JohnLee-]

How much more now ?

[@wernerpanchenko6542]

Start growing own vegies

[@petrafied]

I had identical plumbing repairs done eight years apart by the same plumber. In 2016, it costed $500. In 2024, it costed $1000.

[@DogmaFight]

That would be 9% inflation per year. Feels more accurate than the government's claim of 2% per year. I've been getting a "pricey" haircut at the same place for the last 6 years. In 2018 it cost $38. Now it's $78.

[@keithalaird]

The SPR should never be tapped unless the regular supplies of oil are completely cut off (Arab oil embargo V2.0) and the oil is needed to provide mobility fuel for the military or to bring in a harvest. Additionally, once the oil is released, it cannot be sold for export. Unfortunately, the SPR has been tapped every time the smallest hiccup occurs in the oil supply.

[@Git-R-Done1967]

I seen LA is paying 7 a gallon couldn’t them billions going to Ukraine be used for our oil

[@anthonyrodriguez2413]

Most of the cost of gas in california is the taxes that California imposes. Other states don’t tax gas much as they do

[@geraldhowse8597]

Think about it. That 7 dollars a gallon doesn't go to government. It's oil company money.

[@DexterHaven]

Peter is right about the cost to maintain a home. In New England, if your house needs a new oil burner, it'll cost $25k now for the unit & install.

[@mark-os6fj]

my home insurance went up $120 a month this year.

[@gimmeshelter1969]

Everyone's home insurance is going up; mostly due to extreme weather brought about by climate change. Even folks who live in relatively safe areas are seeing steep increases in their premiums; it's like a stealth tax. Meanwhile, insurance companies are fleeing higher risk states like California and Florida leaving homeowners to fend for themselves as another crazy summer approaches. It's a great big mess.

[@doriangray6985]

What extreme weather? I haven't seen any extreme weather my whole life.

[@mark-os6fj]

@@gimmeshelter1969 Oh it is climate change! LOL. There are no more storms or more severe storms now than any other time in history. Just keep swallowing that big media pill. My whole life 52 now we only have 3 years to live because climate change. Ozone layer better now than ever in history, polar ice caps growing, sea level is not rising.

[@mark-os6fj]

@@doriangray6985 We have actually had many years now of very mild weather.

[@mark-os6fj]

@@gimmeshelter1969 you do know that the Earth has gone through several climate changes in history before there were even people here right?

[@jeffd72703]

You really can’t make this stuff up! Who didn’t see the SPR becoming a fiasco? 🙄🤷‍♂️

[@misteranderson2112]

The news guy is a tool.

[@markanthony2495]

As fake as the WWF.

[@abolisher]

Yeah but I’m only here to hear what Peter is saying…

[@SamuelClemente7718]

Didn't peter get kicked out of Puerto Rico for FRUAD

[@andredaedone7732]

I bought oil stocks during the covid crash and still have them getting my divvys and am waiting for the rock and the hard place to happen. I also have gold I bought in the early 2000s.and still.waiting for 5000 gold before I sell any of it.

[@peterquin1443]

After 20 years, you're finally right!!! That's right, I've been following your work for 20 years!😂 I always knew your premise was correct, but timing was horrible. Rome wasn't ready to fall. We still have a chance for one more cycle, but I'm not sure if Powell and company have the wherewithal to go far enough to get us there. So far though, they have held off on rate cuts even though we are already in recession. So hats off to them because they made it farther than I thought they would.

[@digger105337]

How about using royalty payments from drilling and mining on Federal lands to pay for the SPR refill. Strike a deal for new drilling permits that take crude oil at a set price as payment. Oil and Gas companies get new territories opened up and the SPR slowly gets filled. Too much sense, the government will never go for it.😢

[@TimeToShineMusic]

You know Peter wanted a couple more minutes when this guy mentioned how "you know who" was going to change everything.

[@HAMBURGER-s1l]

100% agree....the country needs something new and understands econ....the "you know who" and "Mr. Stupefied" both raised the debt ceiling. They need someone like "Peter" to deliver reality....the people can't handle the truth.

[@mr.brenman2132]

​​@@HAMBURGER-s1lIt's not enough to be an economist. The economy can be fixed. America being invaded by Mexico can't. Demographic change can't be fixed and once that happens it's an impossibility for someone like Schiff to be in office. The next election decides if the America you once knew will still exist in 10 years.

[@mr.brenman2132]

​@@HAMBURGER-s1lThe economy can be fixed. Demographic changes cannot. It's not enough to be an economist. The next election decision if the America you once knew will exist in 10 years. If the invasion continues it will be a statistical impossibility for someone like Schiff to ever be in office.

[@mr.brenman2132]

​@@HAMBURGER-s1lIf what's happening at the southern border keeps happening you can kiss the America you once knew goodbye. You can fix the economy. You can't fix that change. That decides who gets into office as well. Small government and fiscal responsibility will no longer be an option.

[@ugiustuskeiserus8066]

Lol he just amusingly said "ok" to it 😂

[@shawnkristoferu8303]

The USA government has not made a quality single strategic decision at least for the last 60 years.

[@drhotchkiss]

The DOE was replenishing the reserve at 76$ per barrel. It's been temporarily paused as oil is at 96$.

[@dirtyroofer3678]

Roofing went up a lot and the supply houses are expecting 30 percent more this year

[@JamieLynn41]

I'm favoured, Getting my own Truck has always been my Dream for my business. I just acquired 2 recently, earning $32K weekly has been really helpful. I can now give back to the locals in my community and also support Charity Organizations.

[@baluraju7387]

Hello, how do you make such monthly?? I'm a born Christian and sometimes I feel so down of myself because of low finance but I still believe in God.

[@JamieLynn41]

Thanks to Andrea Sheryl Fox .

[@JamieLynn41]

She's a licensed broker here in the states.

[@Alexanderpedro667]

Wow.. I know her too she is a licensed broker and a FINRA agent she is popular in US and Canada she is really amazing woman with good skills and experience

[@Moore-helen]

I googled about her and yes, she's won my heart. She just gained herself a new client

[@trentfield6542]

Basically wants to start WW3, and got nothing in the tank. FJB!!!!!!!!!!!

[@markanthony2495]

Peter dealing with a heavily biased commentator: "....ok"

[@Leeyouno]

Peter already knows the outcome would only be slightly better.

[@t.daniel5003]

Can't handle people telling the truth about the worst President ever, Joe, left Wing Biden??

[@StephenRussell-yw9bq]

it's a simple case of good vs evil.

[@philliprobertlawman2232]

Thanks Joe, love your work am going to vote for you...........NOT!

[@jerryw5508]

They are going to fill the reserve with old solar panels.

[@sunshinehippie70]

Let’s go Joe and his failed administration

[@toddtheel4084]

RFK Jr is the only one talking about balancing the budget and the national debt.

[@geraldhowse8597]

Lol. Rfk j. Is just another liberal spending freak.

[@barrycraig4773]

The vitriol for this president is such a level I never observed.

[@kansaskristi]

Same vitriol as ovomit

[@johnzawatwicz3867]

Never should have touch it now trump has take time to refill it

[@bryincda]

Do you really think they will let Trump anywhere near the WH? With everything that they have done so far, I think there is no limit to what they will do.

[@johndoe-mm3jk]

Imagine thinking trump would even be in the race at all still if he wasn't one of them 🤦‍♂️

[@bryincda]

@@johndoe-mm3jk Hahahahah!

[@bobbyb322]

Joey got to go.

[@bbtruth2161]

It's not that they are out of touch. It is more likely that they are evil liars.

[@johnnyvanes8352]

We need Trump back in the White House to save America from the media and the democrat's!!!!

[@Abraham.Lincoln22]

Powell said inflation is transitory. 🤣😂🤣

[@PaleoMeat]

Yeah, sure, but on what scale? Geologic ages?

[@medicalmisinformation]

We heard Powell wrong. Inflation is actually TRANSITIONING from masculine inflation to fabulous zany transvestite inflation. Inflation is TRANNY.

[@jude999]

Yellin said it two years ago. Liars.

[@cl5619]

Transitory is a long time

[@medicalmisinformation]

Transitory? We heard Powell wrong. Inflation is actually TRANSITIONING from masculine inflation to fabulous zany transvëştite inflation. Inflation is TRÅNNÝ.

[@RajHK8]

Sold it all to China and left us with nothing. Good job

[@mrmustangman]

....and sold it for 50/barrel but now wants to buy it for 100/barrel. biden must be a rocket surgeon or a brain scientist....

[@branned]

Criminal 😢

[@AustinKoleCarlisle]

Gold at record highs and Pete hasn't released a video yet?

[@darinfonder1388]

We are all praying this ends in November😊

[@StealthyStacker]

Peter schiff is my idle smart man!

[@freddiearthur2151]

Thank you Lord Jesus for the gift of life and blessings to me and my family $14,120.47 weekly profit Our lord Jesus have lifted up my Life!!!🙏❤️❤️

[@ghazanferfazli7335]

I'm 37 and have been looking for ways to be successful, please how??

[@freddiearthur2151]

Sure, the investment-advisor that guides me is..

[@freddiearthur2151]

Mrs Kathy lien

[@henrymartin9168]

Her services is the best, I got a brand new Lambo last week and paid off my mortgage loan thanks to her wonderful services!

[@markdennis5910]

😱Sounds familiar, I have heard her name on several occasions.. and both her success stories in the wall Street journal!

[@davidnek8196]

With his mental condition, he has no clue what you people are talking about.

[@javalez5111]

Charles Schwab: you will own nothing and be happy

[@mykomayer1307]

TGIF Peter, you missed a plug for silver when Dan asked you about a silver lining.......the silver lining is SILVER - it will go up way more than gold percentage wise. As always good job!

[@bluphoenix6412]

Very true! Such a missed opportunity!

[@shadowbanned4days]

FJB

[@javee-th5no]

Went doesn't any politician do anything about it.. impeach BIDEN!

[@leehranicka3689]

SPR = 714 million barrels when full; current SPR level is 364 million barrels after BiDum drained it. Oil is $86/barrel. Do the math 86 x 350 MILLION.

[@FUBARandU]

BidenBombics

[@timernst8909]

More details on refilling oil reserves plz

[@usman9002]

Jerome Powell must learn from Peter Schiff

[@SamuelClemente7718]

Why

[@usman9002]

@SamuelClemente7718 because the monitory policy is wrong

[@SamuelClemente7718]

@usman9002 powell was hand picked

[@andrewdunlop2966]

Peter is Schiff-ting into high gear 🎯😁

[@SamuelClemente7718]

Hack

[@frankannis890]

I wish the people on the hill would stop lieing ti us.

[@erickanter]

They have to lie to us

[@bluphoenix6412]

Why would they stop? Like, why?

[@gregduda6839]

Love that tie!

[@jackworster6129]

Thanks peter

[@cf2851]

3:25 US GDP is just under $28T, while the debt is $34.6T. So debt-to-gdp ratio is over 123% right now. They are massaging these numbers to get 97%. As far as i can tell, it seems like they are excluding intragovernmental debt, such as that owed to the social security trust fund. Shady.

[@jad1079]

Silver is the silver lining!

[@edwardmille8879]

America is the number one producer of oil not even Saudi Arabia is close

[@daniel226]

We're screwed

[@ryaj2356]

Home owners have to learn how to maintain their own homes. That’ll drive the labor to come in and fix it

[@pascalouellette8516]

Correct statement Biden could but won't bad for America

[@tedfillmore6493]

He can't even wipe on his own

[@timothydempsey3763]

Depends

[@LarsonFamilyFarm-LLC]

Love that gold-tie Peter...nice!

[@MichaelJolySr]

We don’t need the petroleum reserve! We’re going all electric!

[@geraldhowse8597]

Lol good one.

[@Will-No-Co]

Peter where are you? What’s going with the dollar and gold both rising at the same time? CPI came out and we have no video.

[@mbojilov1]

Is that anchor from Saturday Night Live?

[@Andy-vf7de]

Could the drop in quantity of physical gold held by GLD be due to foreign banks taking delivery rather than rolling over their GLD futures positions?

[@johnd.5601]

I tell you how it will happen! We are going to switch from refining heavier sour to American sweet! Boom 💥... How did nobody notice the 25% difference between regular unleaded and super?

[@slightlystrombeck]

🇺🇸🇺🇸TRUMP2024🇺🇸🇺🇸

[@Charles-d4e3b]

Well duh cause he just started draining it again

[@mattharmon3838]

Why not? That's his job.

[@danielgriffin8132]

China needed the reserves

[@bobbyhoward8935]

Get ready U.S. it's going to be a bumpy ride no rough ride on gas prices

[@bobbyhoward8935]

Crap

[@aljorgy2310]

What does it matter if prices go up....print more money 💰 😅😅😅

[@steviedonoghue]

We're doomed private Frazer 👍

[@nicholas1740]

Peter isn't dumb but, the guy has been yelling the sky is falling for 25 years! I guess if you're at the roulette wheel and betting on green 00, eventually you'll hit.

[@commentaccount2750]

It was clear when he didn’t do it when prices were low in mid-2023 that he wasn’t going to do it at all in his first term (he certainly wouldn’t cause the price to increase during an election year).

[@recentlyretired]

Trump wanted to top it off when oil was $30 a barrel, but Democrats hated the fact he wasn’t a career politician and one of them

[@BHarris25]

Let’s be honest I voted for Trump twice and I’m gonna vote for him again, but these issues are bipartisan.

[@nealwhite5602]

why would you want more EVs when our electric grids are over streched already , we cannot supply electric now and the government is cutting out gas and propane for homes 😅

[@strangermaniacos686]

They want only rich people to have cars. You'll become poor and no longer can afford a new car not even EV ! .

[@radedemenes]

President Biden should think strategically about the future of this country and fixing inflation instead of doing everything possible to secure votes

[@JoeSmith-op6qf]

Well, this report didn't turn out well.

[@awisniewski6290]

I love peters laugh at the end knowing damn well Trump isn’t going to do anything significant to avoid this crisis

[@DogmaFight]

Inflation: Don't call it a comeback, I been here for years

[@MK9fam]

We can’t afford it but we can afford sending billions to other nations to aid in war instead of aiding the people of this country. Make it make sense!

[@alexlopez5800]

Now he will lol

[@yougetaspear7799]

He must be smiling with golden silver lining perhaps with the global geopolitical picture