Page 1 of 2 12 LastLast
Results 1 to 15 of 18

Thread: Who needs the Strategic Oil Reserve

  1. #1
    Join Date
    05-01-11
    Location
    Louisiana
    Posts
    1,787

    Who needs the Strategic Oil Reserve

    This is what that ass in the Oval Office is doing. About 1.6 million barrels of crude from the U.S. Strategic Petroleum Reserve — a monthly record — was shipped out in October, according to data from market intelligence firm Kpler. Three cargoes were loaded onto a supertanker in the U.S. Gulf Coast and are headed to Asia. “Given the ongoing pace of the current SPR release — 12 million barrels in the last two months, BloombergQuint reports.

    Could one of y'all biden voters tell me just how this is helping the U.S. ? .
    Individual rights are protected only as long as they don't conflict with the desires of the state .

  2. #2
    Join Date
    10-22-01
    Location
    All Over
    Posts
    32,864
    Read all you want IV:

    https://www.reuters.com/business/ene...es-2021-11-17/

    https://www.bloomberg.com/news/artic...s-in-the-works

    https://www.bloomberg.com/news/artic...tegic-reserves


    If you finish them and would like more---just let me know.

    BTW---the crude price is down 2.84% today.
    "A pessimist sees the difficulty in every opportunity, an optimist sees the opportunity in every difficulty” ---Sir Winston Churchill
    "Political extremism involves two prime ingredients: an excessively simple diagnosis of the world's ills, and a conviction that there are identifiable villains back of it all." ---John W. Gardner
    “You can’t go back and change the beginning, but you can start where you are and change the ending.” ---C. S. Lewis

  3. #3
    Join Date
    11-22-03
    Location
    In the Village...
    Posts
    40,835
    Quote Originally Posted by Dave Grubb View Post
    ---the crude price is down 2.84% today.
    I'll breathe easier when I see a corresponding drop at the diesel pump......Ben
    The future is forged on the anvil of history...The interpreter of history wields the hammer... - Unknown author...

  4. #4
    Join Date
    04-29-17
    Posts
    5,589
    Robbing Peter to pay Paul. Another example is the Biden administration taking funds appropriated under the covid relief act and using them to supplement heating bills which will skyrocket this winter.
    OPINION....a view or judgment formed about something, not necessarily based on fact or knowledge.

  5. #5
    Join Date
    10-22-01
    Location
    All Over
    Posts
    32,864
    WTI closed yesterday -3.15%.
    "A pessimist sees the difficulty in every opportunity, an optimist sees the opportunity in every difficulty” ---Sir Winston Churchill
    "Political extremism involves two prime ingredients: an excessively simple diagnosis of the world's ills, and a conviction that there are identifiable villains back of it all." ---John W. Gardner
    “You can’t go back and change the beginning, but you can start where you are and change the ending.” ---C. S. Lewis

  6. #6
    Join Date
    10-14-01
    Location
    TEXAS!
    Posts
    11,922
    WTI has dropped appox. $10 per barrel since Oct. 25.
    The only way of discovering the limits of the possible is to venture a little way past them into the impossible - Arthur C. Clarke

  7. #7
    Join Date
    10-30-01
    Location
    Salt Lake City
    Posts
    26,179
    Our economic progress comes with an inflationary curse. The Fed thinks we can spend our way out of it. Hopefully, they're right.

    Hunter
    Now is the time, if ever there was one, for us to care selflessly about one another. - Dr. Anthony Fauci

  8. #8
    Join Date
    10-22-01
    Location
    All Over
    Posts
    32,864
    From this morning's WSJ:

    By Ryan Dezember
    Updated Dec. 6, 2021 3:14 pm ET


    The threat of sky-high heating bills is melting away.

    Unusually warm weather pushed U.S. natural gas futures down 11.5% on Monday to $3.657 per million British thermal units. That is down more than 40% from October’s peak, erasing a run-up that stoked fears of exorbitant heating bills biting into household budgets and manufacturers’ balance sheets already stressed by broad inflation.

    The climb in price has reversed thanks to an uptick in domestic production and the unseasonably warm weather that has delayed heating season in much of the country.

    Monday’s sharp decline came after forecasts showed another burst of warm weather settling over much of the country next week, eliminating a lot of demand for the power-generation and heating fuel. Meager autumn consumption has allowed stockpiles that were drained by summer’s record heat to recover before furnaces and boilers start blasting.

    In early September, when the prices took off, the volume of gas in domestic storage facilities was 7.4% below the five-year average inventory, according to Energy Information Administration data. As of Thanksgiving, the deficit was down to 2.4% and analysts see it shrinking further.

    Gas bulls might dream of a white Christmas, but fresh forecasts for between now and then call for weather so warm that trading firm EBW Analytics Group estimates that there will be 35 billion cubic feet less demand this month than had been expected on Friday. That “suggests that the massive move lower is set to continue,” said EBW analyst Eli Rubin.

    U.S. prices began the heating season at their highest level since frackers flooded the market with cheap shale gas more than a decade ago. A lot of gas was burned for air conditioning to combat the record summer heat and to make up for lost hydropower output. Meanwhile, low inventories in Asia and Europe touched off bidding wars for U.S. exports of liquefied natural gas, or LNG.
    "A pessimist sees the difficulty in every opportunity, an optimist sees the opportunity in every difficulty” ---Sir Winston Churchill
    "Political extremism involves two prime ingredients: an excessively simple diagnosis of the world's ills, and a conviction that there are identifiable villains back of it all." ---John W. Gardner
    “You can’t go back and change the beginning, but you can start where you are and change the ending.” ---C. S. Lewis

  9. #9
    Join Date
    10-30-01
    Location
    Salt Lake City
    Posts
    26,179
    So, in other words, there are some benefits of Global Warning.

    Hunter
    Now is the time, if ever there was one, for us to care selflessly about one another. - Dr. Anthony Fauci

  10. #10
    Join Date
    11-22-03
    Location
    In the Village...
    Posts
    40,835
    Diesel is back under $3.00 a gallon here...For how long, who knows?......Ben
    The future is forged on the anvil of history...The interpreter of history wields the hammer... - Unknown author...

  11. #11
    Join Date
    10-22-01
    Location
    All Over
    Posts
    32,864
    Quote Originally Posted by UTAH View Post
    So, in other words, there are some benefits of Global Warning.

    Hunter
    There are always two sides to any coin.
    Seems like we have been giving NG away since they turned our wells on, no reason to stop now

    As an aside, coal use increased last month for generation because of the NG price.
    "A pessimist sees the difficulty in every opportunity, an optimist sees the opportunity in every difficulty” ---Sir Winston Churchill
    "Political extremism involves two prime ingredients: an excessively simple diagnosis of the world's ills, and a conviction that there are identifiable villains back of it all." ---John W. Gardner
    “You can’t go back and change the beginning, but you can start where you are and change the ending.” ---C. S. Lewis

  12. #12
    Join Date
    10-30-01
    Location
    Salt Lake City
    Posts
    26,179
    Quote Originally Posted by Dave Grubb View Post
    ...coal use increased last month for generation because of the NG price.
    Interestingly, there's one Democratic county in Utah - Carbon County. Wifey is from the county seat - Price, Utah. Coal is king there and the coal mines sustain the local economy. As coal usage has decreased, Carbon County has suffered. This creates a situation wherein our Republicans are against Biden as are the Democrats in Price.

    Frankly, I do not expect Biden to be re-elected.

    Hunter
    Now is the time, if ever there was one, for us to care selflessly about one another. - Dr. Anthony Fauci

  13. #13
    Join Date
    10-14-01
    Location
    TEXAS!
    Posts
    11,922
    Quote Originally Posted by UTAH View Post
    ..........Frankly, I do not expect Biden to be re-elected.

    Hunter
    Nor do I. The only question is who will replace him? We cannot afford either Harris or Trump. Someone worthy of the post has to step up and be recognized soon.
    The only way of discovering the limits of the possible is to venture a little way past them into the impossible - Arthur C. Clarke

  14. #14
    Join Date
    10-30-01
    Location
    Salt Lake City
    Posts
    26,179
    I agree Mike. We need a strong Independent to arise.

    Hunter
    Now is the time, if ever there was one, for us to care selflessly about one another. - Dr. Anthony Fauci

  15. #15
    Join Date
    10-14-01
    Location
    TEXAS!
    Posts
    11,922
    Quote Originally Posted by UTAH View Post
    I agree Mike. We need a strong Independent to arise.

    Hunter
    An independent has no chance.
    The only way of discovering the limits of the possible is to venture a little way past them into the impossible - Arthur C. Clarke

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •