The Biden administration scored a $66 million profit in its first oil trade after releasing millions of barrels from the Strategic Petroleum Reserve (SPR) in 2022 at peak prices, and then restocking when oil dipped. Story in @qz:
Nate DiCamillo
6,118 posts
- Replying to @Nate_DiCamilloSenator Fetterman: "The Republicans want to give a work requirement for SNAP. For a hungry family to have these this kind of penalties. Shouldn't you have a working requirement after we [bail out] your bank?" No response from the panel.
- Replying to @Nate_DiCamilloSenator Fetterman (D-PA): Is it an inside joke that the government will always bail you out when your bank crashes? Becker: I don't believe that's the case.
- Listening to @coinbase's Q1 earnings call where Brian Armstrong just said the exchange plans to add DOGE in the next 6 to 8 weeks.
- In PR nonsense news: I had a rep recently request that I misattribute all of a VP's quotes to the CEO, and I have to wonder what comms people think we do here
- Replying to @Nate_DiCamilloSenator Elizabeth Warren (D-Mass) asks if gas prices and food prices will go down in response to rising interest rates. Powell answers no. Instead, interest rates affect interest rate sensitive durable goods and lowers asset prices.
- Replying to @kenklippensteinThe FOMC has 12 voting members so Powell doesn't decide what interest rates are.
- The sale trimmed @Tesla's bitcoin position by 10%, Tesla CFO Zachary J. Kirkhorn said on the company's earnings call today.Tesla sold some of its bitcoin stash in Q1 for $272 million proceeds. by @Nate_DiCamillo trib.al/lWdzwO7
- U.S. Fed Chair Jerome Powell is set to testify before the House Committee on Financial Services in a minute. For notes on comments that matter to #BTC investors, follow thread here --->
- Replying to @Nate_DiCamilloWarren hits at how blunt interest rate hikes are: "Rate increases make it more likely that companies will fire people and slash hours to shrink wage costs. Rate increases also make it more expensive for families to borrow money for a house."
- "One of these pay for provisions seeks to bring in more revenue to the federal government with the promise of requiring those who buy and sell cryptocurrency to treat it the same way as they would the exchange of securities," Sen. Mike Lee (R-Utah) said. #InfrastructureBill
