SPR integrity
I saw discussion on the SPR recently. People have thrown around a statement from Amos Hochstein, Biden's senior advisor for energy security, who speculated in this video: https://www.youtube.com/watch?v=hKq0ruVlewY at 7:15 that at 300, the SPR's caverns will damage, and the rate of extraction may slow. Does anyone have additional insight into the SPR?
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Robert, thanks for this. I've read countless analyses of this very thing. Legally no part of the government, regardless of Presidency, can drain the SPR below X barrels without Congressional mandate. Rationally, X barrels is greater than what is possible from a physical standpoint because of crude quality absorbing salt the past 30 years.
Either way the SPR is drained. It cannot be used anymore for the sake of campaign promises.
Three years ago I was furious with Biden Administraion for draining the SPR before the midterms, to seek approval and votes...this current wank is doing the exact same thing, for the exact same reasons.
I can provide a dozen links to this issue; what is the point? We need to step back and look at this entire situation the best we can...rationally.
America has drained itself dry of oil on hand, in storage. All its got left now is horse shit promises and hope the Iran thing gets resolved in a few days, which it won't, and lies about Permian Basin production rising, for the sake of exports.
I am amazed the price of oil is not $150 a barrel, how deep the deception is in world oil markets, and that effectively ONE man in the world can do all that. We should all be scared to death of that.
It was a good question, thank you; sorry to be so outspoken.