buy low sell high bill

[JohnRoberts]

Remarkably a new bill in congress called the "buy low sell high act", proposes that the government should "trade" the commodity (oil) in our SPR (strategic petroleum reserve) for profit.

Its bad enough that they are depleting our SPR to a 40 year low to mitigate the Nov election emergency. 427 million barrels of oil is apparently burning holes in their pockets.They want to capture and spend that wealth on pet projects. For anyone watching the news, we are in hurricane season and the SPR has an actual utility for managing outages caused by hurricanes in the gulf striking refineries (TX, LA).

The suggestion that the government can trade commodities profitably is laughable. I recall when they promised to save students money by nationalizing the student loan industry. We have seen this movie before.

WASHINGTON, DC – Congressman Frank Pallone, Jr. (NJ-06) introduced the Buy Low and Sell High Act today, new legislation that creates an Economic Petroleum Reserve designed to continue the trend of falling gasoline prices and make money for American taxpayers by empowering the Department of Energy (DOE) to buy oil when prices are low and sell oil when prices are high.

I will resist joking about what commodity they will decide to trade next, because this isn't even a little funny.

JR

 

[AnalogPackrat]

Idiocy.

 

[pucho812]

Buy low sell high why didn’t I think of that? Next they will say sell me this pen.

 

[JohnRoberts]

Buy low sell high why didn’t I think of that? Next they will say sell me this pen.

Sadly government legislation often fails to live up to it's name.

JR

 

[pucho812]

Sadly government legislation often fails to live up to it's name.

JR

Often true. On the other hand I think of bills like the interstate highway system which was written in something like 54 pages. Why they can’t be that simple is beyond me. More pages more fat that needs trimming.

 

[JohnRoberts]

Often true. On the other hand I think of bills like the interstate highway system which was written in something like 54 pages. Why they can’t be that simple is beyond me. More pages more fat that needs trimming.

Its worse than just the size of the bills, it's that they empower regulators to make rules (that should be negotiated by the legislators).

Speaking of infrastructure Senator Manchin the last democratic holdout on the massive infrastructure bill, made a back room deal with Sen Schumer in return for his vote, Schumer promised a W VA NG pipeline and permitting improvement bill (attached to the govt funding resolution). Permitting is the major time delay for large infrastructure projects.

Like Lucy with Charlie Brown's football, Schumer did not deliver on the promised permitting improvement bill. The Progressives wrote in a poison pill, to burden energy pipelines with funding Green projects, effectively killing the bill.

JR

PS: President Eisenhower pushed the interstate highway bill for military readiness (a lesson he learned from the autobahns in Germany during WWII). Of course the interstate highway system was a boon for commerce.

 

[pucho812]

Its worse than just the size of the bills, it's that they empower regulators to make rules (that should be negotiated by the legislators).

Speaking of infrastructure Senator Manchin the last democratic holdout on the massive infrastructure bill, made a back room deal with Sen Schumer in return for his vote, Schumer promised a W VA NG pipeline and permitting improvement bill (attached to the govt funding resolution). Permitting is the major time delay for large infrastructure projects.

Like Lucy with Charlie Brown's football, Schumer did not deliver on the promised permitting improvement bill. The Progressives wrote in a poison pill, to burden energy pipelines with funding Green projects, effectively killing the bill.

JR

PS: President Eisenhower pushed the interstate highway bill for military readiness (a lesson he learned from the autobahns in Germany during WWII). Of course the interstate highway system was a boon for commerce.

Yes. See the California air resource board, carb for short.

 

[cyrano]

It's beginning to resemble an old folks' home in here...

I can smell it.

 

[JohnRoberts]

It's beginning to resemble an old folks' home in here...

I can smell it.

hey kids get off my yard.....

JR

PS: He who smelt it dealt it....

 

[AnalogPackrat]

Often true. On the other hand I think of bills like the interstate highway system which was written in something like 54 pages. Why they can’t be that simple is beyond me. More pages more fat that needs trimming.

If only. Government of that era was much more rational and effective than our current clown show of talking point drivel and taxaholics anonymous.