Sort of. It bottomed at about 600M barrels and was back to almost full in 4 years.It seems consistent with the rate of accumulation during early 2000's.
The bigger issue is NIMBY but here you go. Coastal communities don't want a repeat of Deepwater Horizon. Within the interior there is going to be restrictions on public land which consists of a huge portion of land west of the Mississippi River.
The other problem is the US government doesn’t sequester oil produced by Mobil or Shell on US land. It’s sold on the world market to the highest bidder. Add to this that some oil must be exported due to refinery capacity/ability to process particular types of crude oil, and I don’t know why people think oil produced in the US would have to stay in the US when all it does is add to the global supply.
Here is the strange part - all those press briefings that Thad did was a teleprompter loaded by bp - why?The bigger issue is NIMBY but here you go. Coastal communities don't want a repeat of Deepwater Horizon. Within the interior there is going to be restrictions on public land which consists of a huge portion of land west of the Mississippi River.
Thank you for your opinion, but if the world got nastier and emergency measures needed to be taken, my question is valid.
Did we ever draw on it a single time the +20 years we were at war in the Middle East? Just asking, because I keep hearing it’s for a national security and that was the longest war in history. If it wasn’t needed then, when?
From your article above "Recent legislation has directed the sale of more than 100 million barrels of oil from the U.S. Strategic Petroleum Reserve (SPR) in U.S. government fiscal years (FY) 2022 through 2027. "
We haven't that I am aware. Its more likely that a disruption would be internal anyway (terrorist attack on a pipeline or something) rather than external.
From the second article - isn’t this roughly where we are at now? Around 410M? That article was written in 2018 and it makes it sound like several acts of Congress necessitate its continued drawdown over time.
It's currently faster than the rate from 2000-2002 and more inline with 2002-2008. Would we be saying the same thing back then? I mean what can one reasonably expect within an 18 month period?
Actually + when the numbers support it - US refineries can and have blended heavy oil with gas condensate - we can call in Triple_Se7en, for a FrankenCrude (love ya, man = just playing around) …
Given there not allowed to drill, no one wants to invest the money to explore.
IIRC the SPR was only to be used for national emergency, and to supply the current (at the time of date) usage rate up to 30 days. This would (supposedly) keep the country intact energy-wise until other control and usage could be enacted. Right now it’s being used as a sort of “capacitor” to keep energy price spikes level. We did not need it at all in the Middle East because at that time the fuel/oil needed was provided by middle eastern countries involved.
Its not about fighting a war, and its also not about price. It was set up after the oil embargo in 1973 - when there were shortages and you couldn't buy gasoline at any price, although the idea had been discussed by every administration post WW2.
That article is very poorly written - or purposely biased. Better to just go to the source.
Thank you for doing the leg work here…I’m busy at work negotiating with little terrorists but I’ll read this when I have a chance later tonight.
Whoa! Add a buck for CA.
Looking at the data only confirms the foolishness of the original policy choice to deplete it. If you look at the data against historical norms, it’s typically in the high 600 mm range. Now it is in the high 300mm range. Some of us object to the “strategic” petroleum reserve being used as the “political” petroleum reserve. Filling it up again after depleting it for nakedly political purposes does not undo the foolishness of the original policy.
