Just like Gavin Newsom said a few years ago that more than 90% of wildfires are human caused, French officials are also saying the same thing. It's an education problem and a law & order problem and a land-management problem -- but not a climate problem ... https://t.co/j1w4huno29
🚨 NEW: Americans for Public Trust has officially launched the Follow Foreign Money Database — a first-of-its-kind, free tool to track the flow of foreign money and influence into American politics.
👉 https://t.co/Q6u945c91v 👈
Fauci didn't create anything. He was the money launderer for it. He didn't 'mismanage' anything. He did exactly what he was suppose to do and documented it on a government computer using "Diary" knowing full well anything on a government server would be monitored by NSA.
The real question is who was managing the destabilization operation, election interference operation, and ultimately the overthrowing of the US government AND THE CORRECT ANSWER IS NOT FAUCI. Was he a part of the operation? Yes, was he in charge of it? No.
Hello everyone, I am coming on live with Mr. Ron Stein and Armando Cavanha in two hours to talk about the status of California’s refineries and fuel situation. https://t.co/GJjGkOMStd
South Korea stopped shipping jet fuel to the West Coast on April 2. Southwest made this bold move because they understood the timing of the ships transiting the Pacific Ocean. And as Colin Grabow has been posting charts with the effects of the Jones waiver, we know that more jet fuel has been shipped via foreign flagged tankers to California in the last 2 1/2 months than what has been shipped in the last 36 years combined. The situation that created this shortage in California has not changed. And the three remaining corporations have not rescinded their letters with their possible intent to shut down their refineries. Our federal government needs to impose the defense production act immediately. California cannot afford to lose any more refineries.
https://t.co/13Qv1t5sG1
For everyone who thinks that Trump is draining the SPR during this period of the war and comparing him to Biden the only thing these events share is the drawdown in inventory.
How these sales were structured, however, are completely different.
In 2022, Biden straight up sold the oil into the market without any intention of buying it back. They even went so far as to refuse to buy back at $70/bbl after having sold it to Europe for $95.
Those barrels went out and never returned. You can see that clearly on the chart.
Now, in 2026, Trump has executed these sales under the auspices of an exchange (key difference here). He sold the oil into the peak price for those domestic companies that needed the oil today but under the arrangement that those barrels would be replaced by the companies at a future date (likely 1 year from original sale) at the current price.
The SPR inventory data only reflects the actual barrels in the tanks, so there is a limit to this policy here. But the oil will be coming back. So it looks the same on the chart, but it’s not because the oil is booked for replacement in a few months, when magically, the SPR inventory data will begin to rise.
@sorenthek and I covered this exact story in Episode #251 of the Gold, Goats ‘n Guns Podcast earlier this month (link in part 2) Vince also pointed out that if this situation was dire, Trump would suspend the exports of middle distillates (diesel, heating oil) to support domestic needs.
So, as we stand today, Trump is using that tight middle distillates market worldwide to advantage domestic producers who are collecting the massive 3-2-1 crack spreads that folks like @chigrl have been noting (H/T Tracy, thank you!).
I would go a step further and say (and have said) that Trump doesn’t care about oil prices dropping or rising because it is clear the US is making money on both sides of the trade and can squeeze his opponents using those exports as leverage.
Yes, in this case, I am looking at Europe, whose energy stores are low, prices are high, are about to add to their regulatory woes by adding carbon taxes (H/T @dlacalle_IA) to the price of diesel, and whose capital markets are more vulnerable to this than the US is.
It’s a high risk strategy, no doubt. Likely this was also coordinated with China who is using its SPR in a similar manner. But, this is not a case of anyone being trapped, but rather a case of managing the clock as events on the ground play out.
As always, facts matter more than narratives.