*Investors Blog*

Forbes has an article out saying the SPR is empty. Behind a paywall - here is the headline.

I am adding to my oil holdings - OXY, VLO (add, already own some) and I might add CVX. I would like to add to XOM but I already have a lot. Decisions are hard.

1689621459216.webp
 
SC Maintenance said:
Forbes has an article out saying the SPR is empty. Behind a paywall - here is the headline.

I am adding to my oil holdings - OXY, VLO (add, already own some) and I might add CVX. I would like to add to XOM but I already have a lot. Decisions are hard.

View attachment 167575
Click to expand...


They might drain more before election to get gas below $2 a gallon.
 
Dave Hess said:
They might drain more before election to get gas below $2 a gallon.
Click to expand...
Over the last 5 or 6 weeks average depletion is around 1.7M barrels per week. The weeks before it was closer to 2M per week.

Total level is 346.758M barrels, So at current rate depletion will be around new years.

Which is what surprises me. I would thought they would want some to give away before the election.

https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WCSSTUS1&f=W

Long oil stocks- especially US oil stocks.
 
4WD said:
This is strange stuff …
Click to expand...
Why I said tinfoil hat territory.

US oil consumption is roughly 20M barrels per day. Currently 10% of that amount is coming out of the SPR.

The demand for oil is extremely inelastic. You need to get to work, you need to ship goods. If that 10% stops, prices jump a lot. If you also ever try to buy 10% a day to put into the SPR - prices jump more.

Obviously everyone knows this. We will be left with high gas prices and no SPR. The tinfoil hat part becomes the why?
 
SC Maintenance said:
Why I said tinfoil hat territory.

US oil consumption is roughly 20M barrels per day. Currently 10% of that amount is coming out of the SPR.

The demand for oil is extremely inelastic. You need to get to work, you need to ship goods. If that 10% stops, prices jump a lot. If you also ever try to buy 10% a day to put into the SPR - prices jump more.

Obviously everyone knows this. We will be left with high gas prices and no SPR. The tinfoil hat part becomes the why?
Click to expand...

No gas needed if the USA goes to all EV. :rolleyes:

Lots of terrible decisions made lately will have terrible consequences.
 
Last edited:
Pablo said:
We shot all our ammo up.
Click to expand...
Dave Hess said:
They might drain more before election to get gas below $2 a gallon.
Click to expand...

Low oil and little ammo looks like a trap prime for an attack on Taiwan. How long would we last after we use up all of the armaments on our ships and Air Force? I have no clue about military preparedness but it doesn't look good, unless this is a ruse.
 
SC Maintenance said:
Over the last 5 or 6 weeks average depletion is around 1.7M barrels per week. The weeks before it was closer to 2M per week.

Total level is 346.758M barrels, So at current rate depletion will be around new years.

Which is what surprises me. I would thought they would want some to give away before the election.

https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WCSSTUS1&f=W

Long oil stocks- especially US oil stocks.
Click to expand...
I never woulda thought that the SPR would be stored in barrels
 
Owen Lucas said:
Low oil and little ammo looks like a trap prime for an attack on Taiwan. How long would we last after we use up all of the armaments on our ships and Air Force? I have no clue about military preparedness but it doesn't look good, unless this is a ruse.
Click to expand...

Yep, drag the war in Europe for another year and then strike when our supply is very low.
 
U.S. petroleum production is on pace for a record-breaking year, helping to keep energy prices stable despite the efforts of Saudi Arabia and other major oil exporters to drive them higher.

U.S. crude output this year through April is up 9% from a year ago, surprising analysts given that oil futures were sliding and the country’s shale boom was showing signs of peaking. The surge is being driven in part by improved production efficiency, and signals that the Organization of the Petroleum Exporting Countries’ power to control prices could be waning as output continues to grow in the rest of the world.

After prices crashed in 2015, U.S. producers “went back to the lab and got much more efficient, with a lot of engineering-based gains and a lot of staff and cost cutting,” said Vikas Dwivedi, global oil and gas strategist at Macquarie Group.



https://www.wsj.com/articles/u-s-oil-boom-blunts-opecs-pricing-power-472567f
 
stormgol said:
tesla stock is almost at 300 dollars. it was 108 dollars in january 2023. what a ride.
Click to expand...
Roller Coaster for sure. TSLA defies all rules and traditional metrics.
I shoulda bought the stock instead of the car in Dec 2018.
Of course if I would have invested during the peak months, I'd be crying.
I kinda hit it in the middle; my investment has more than doubled. Wish I had more...
 
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