Joe Releases Strategic Petro Reserves
The Strategic Petroleum Reserve is a U.S. Government complex of four sites with deep underground storage in salt domes along the Texas and Louisiana Gulf Coasts. They have a combined capacity of 714 million barrels. The inventory as of 4 September was 621.3 million barrels, or about 30 days of US consumption.
‘Till now, emergency releases of the reserve have occurred three times:
In 1991, at the beginning of Operation Desert Storm, the United States, assuring the adequacy of global oil supplies with its allies, announced the emergency sale on the day the war broke out in the Persian Gulf.
In September 2005, after Hurricane Katrina crushed the oil production, distribution, and refining industries in the Gulf regions of Louisiana and Mississippi.
In June 2011, the United States and its partners in the International Energy Agency announced the release of 60 million barrels in response to crude oil supply disruptions in Libya and other countries.
Biden’s Strategic Petroleum Reserve Sale Is Shoddy Shortcut, Not Needed Course Correction
Katie Tubb
While President Joe Biden seems to have no qualms about advancing regulations and policies that will increase energy prices for Americans, he clearly does not like the flak he’s getting right now for high gas prices and energy bills.
Feeling heat from rising gasoline prices, Biden authorized two releases totaling 50 million barrels of oil from the Strategic Petroleum Reserve to be delivered between the end of December through April 2022.
The Strategic Petroleum Reserve was created by Congress in the Energy Policy and Conservation Act of 1975 to meet the requirements for being a member of the International Energy Agency, itself an effort to coordinate responses by member nations to the 1973-1974 oil embargo by OPEC nations.
The 30 member nations must hold reserves of crude oil and/or petroleum products covering 90 days of net imports. U.S. net imports of crude oil have fallen steadily as American production has soared since the inception of cost-effective hydraulic fracturing.
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To release reserves from the Strategic Petroleum Reserve independent of direction from Congress, the Energy Policy and Conservation Act requires a presidential finding that there is a “severe energy supply interruption” and that:
“An emergency situation exists, and there is a significant reduction in supply, which is of significant scope and duration.”
“A severe increase in the price of petroleum products has resulted from such emergency situation.”
“Such price increase is likely to cause a major adverse impact on the national economy.”
Each of these criteria exist, are self inflicted, and easily remedied. Joe’s Handler’s largess of 50 million barrels will last nearly three days and have to be replaced. It also will do nothing to stem the tide of 2022 conservative voters.
Category: "Teh Stoopid", Economy
Apparently the oil released is “low grade” due to the level of sulfur and is being exported to China and India. How is that supposed to help Americans? I guess I for one welcome our Chinese and Indian Overlords.
Drill, baby! Drill!
Pedo Joe killed that idea… see Keystone Pipeline.
We had all the gasoline last year under Pres Trump but the supreme ruler shut down pipe lines in the hope of having everyone buy electric cars down the line.
People may go broke and hungry (and electric car/battery technology may be nowhere near “green” as it should be) but that seems the plan.
Electric cars with batteries manufactured with and including rare earth minerals… Oddly the same rare earth minerals that are controlled and monopolized by none other than China. The same China that cut a three trillion dollar deal with the Taliban just as the administration was tail-tucking and running.
Weird weird stuff when you step back and see that the ‘conspiratorial’ pieces, when placed together en masse, they create quite the telling picture.
Having to release any form of Reserves is not a good sign, especially when it’s the Nation’s OIL reserves. Think SniffyJoe’s just digging himself into a much deeper hole and as AW1Ed alludes to, is not going to engender voter confidence in the 2022 elections. Go Brandon and Buck Joe Fiden!!!
So if I copy correctly: Republicans release the reserves for actual emergencies and Democrats release them in response to their failed energy and economic polices roger?
Lots of shenanigans occur with the SPR, but if bound by emergency releases only, then yes.
Republicans release them in response to events beyond their control like hurricanes and world geopolitical events.
Democrats release them in response to fuel shortages resulting from their recently and shortsightedly enacted anti-fossil fuel policies to support climate change.
That simple enough for you?
You got it. The Republicans also like to build them back up, whereas the Democrats apparently think we’ll never need the reserves again.
So can I put fuel oil in car?
They are more worried about the optics of people freezing to death in their homes this winter due to lack of heating oil. About 10% of US residents (mostly rural, mostly lower income) still use fuel oil to heat with. Next winter it won’t matter.
We are all going to freeze to death.
Red dye # 5 lights my fire.
What a shame that according to the US Energy Information Administration, 81% to 86% of all that heating oil is used in those blue-state Democrat strongholds in the Northeast:
https://www.eia.gov/energyexplained/heating-oil/use-of-heating-oil.php#:~:text=In%20the%20winter%20of%202019%E2%80%932020%2C%20about%205.5%20million,were%20in%20the%20U.S.%20Northeast%20census%20region.%201
In some of those states, as of 2016, from 30% to 47% of existing homes used heating oil. In the South which accounts for only 6% of the total, I would wager most of that usage is in older cities along the coast.
All of which sounds like a lot more than just rural folks…
Its not “just rural” it is mostly rural. Away from NG supply lines.
5JC,
Yep, many who live along natural gas pipeline streets
are motivated to convert.
This winter, those who failed to convert from oil to NG are paying dearly.
Poe,
Many in this area of the northeast have converted to natural gas over the past 10 years.
Just as coal homes converted to oil in the 70s and 80s,
in the 2000s now converting again, from oil to natural gas.
Still oil tanks everywhere, whether in use,
or sitting empty and dusty in basements.
Is acceptable losses for “social justice,” comrade! (Right, Lars?)
Gotta kill off the Boomers to free up that money for the Free Shit Army
Sapper,
Take a look at what DE, NJ, NY, & MN
are paying for heating oil right now.
Delaware 3.609
New Jersey 3.558
New York 3.583
Minnesota 3.524
Pennsylvania 3.235
Works great in rural counties in Volkswagen Jetta Diesels,
and all those diesel pickups.
But don’t get caught with the traffic stop siphon dip test.
Fines are hefty for cheating with (road fuel tax cheat) heating oil.
https://www.eia.gov/dnav/pet/pet_pri_wfr_a_EPD2F_PRS_dpgal_w.htm
Vermont is expensive also, my red corner is pissed.
They’ve been doing that with Truckers for years, busting some for using red dyed off-road fuel.
A Proud Infidel@,
Yep, the dye colors vary,
but getting it all out of a car or truck fuel tank is no fun.
Releasing this tad bit of oil from the STRATEGIC Reserves will have as much effect on price/supply as me pissing in the ocean would have on Coastal Flooding. Virtue signaling at its finest.
Sniffy prezzy has plenty of JP8 to jet off to Nantucket for the Holiday.
ps…There was a reason it was called the Strategic Petroleum Reserve. Guess the Military won’t need it, since Milli will surrender before the FIRST (ht2 API) shot is fired.
20 million (of the 50) is being sold to pay for the green new deal.
The 30 million is to relieve the pain at the pump.
30 million is equal to 2.6 days United States oil usage.
Total fornicating bull excrement.
Biden is such a dolt…
IMHO that’s like saying that water is wet, fire is hot and shit stinks. Biden has long been an idiot but let’s not forget that one of his past and likely current handler, B. Hussein 0bama, once tried to wage war on the use of wood to heat homes in the name of emissions, never underestimate the cravings of liberal politicians for their desire to control and manipulate everyone else.
To paraphrase Pelosi, these are “crumbs”.
“…the crumbs that they are giving to workers to kind of put the schmooze on is so pathetic. It’s so pathetic.” – Nancy “Babbles” Pelosi (D-CA)
I.e., “Let the eat cake!”
Mason, are you speaking of that same Pelosi person who reportedly just purchased a 25 million dollar, 11,000 SF beachfront mansion in coastal Florida?
https://saraacarter.com/pelosi-bought-25-million-11000sq-ft-beachside-mansionin-desantis-state-of-florida/
Poetrooper,
FALSE.
You were punked. Fooled. Tricked. Again.
This is why we GOOGLE the rumors, the juicy, and the ear music.
[Nancy Pelosi buying $25 million Jupiter Island mansion?
Fake news, says real estate agent]
https://www.palmbeachpost.com/story/news/politics/2021/11/24/nancy-pelosi-florida-beach-road-house-mansion-talk-false-rumor/8748197002/
So easy to deploy the Fu of Google.
https://www.google.com/search?q=pelosi+mansion+florida
Thanks for the 2 1/2 days of fuel, Brandon! LET’S GO, BRANDON!!!
Joe Manchin’s reaction to this was brutal. ‘The administration’s short sighted energy policy was a self inflicted wound’.
One of the few Democrats I actually have an ounce of respect for…
Sooooo release enough for 2.5 days of American energy consumption. Got it.
Retard.
IMHO Biden’s handlers are out to cripple our ability to respond to an emergency.
I see this as another step in the attempt to completely destroy the USA.
I may be paranoid, but that doesn’t mean they are not out to get me.
More Biden wisdom: With pipeline delivery being restriced by the Biden admin, Canada is falling back on tanker trucks to get its crude into the US.
So beginning in January 2022, Biden’s gang will now require all truck drivers entering the US from Canada to be vaccinated or they will be refused entry.
Meanwhile tens of thousands of illegal border crossers from shitholes all over the world, like Haiti, continue to be invited in without any concern for their health or vaccination status.
If you’re a lefty, like Lars, that probably makes some kind of sense…
Trucking the crude in is going to cause another cost increase.
Without any concern for the health and welfare of U.S. citizens.
Another bit of shortsightedness by the left: Shut down the pipelines and transport oil by trucks and trains (that only hold 200 or so barrels) which not only means huge increases in exhaust emissions but also is exponentially more dangerous to the population living along the train and trucking routes.
Again, that idiocy probably makes sense to a lefty like Lars…
Ah yes, the threat vector posed by OTR truckers. COVID started in a Fauci-sponsored Chinese lab and was spread, worldwide, by solitary truckers.
I suppose this will keep the lot lizards from getting COVID. Fewer truckers coming into the stops though will cut down the prostitution industry. Another group of hard working people Brandon is depriving of work.
TThat’s meant to be trucks that only hold 200 barrels…
At first I thought it said pedo reserves. I would think the dems would have a lot of those.
I just wonder how many of Biden’s fatcat donors will profit from this, and how much of a kickback will he and his family be getting?