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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Alan Foum has been around a long time and knows his stuff. 13 minutes long; worth it. "The family jewels have been sold off," is a correct assessment. Biden did it for political reasons, Trump had an opportunity to replenish it all under a period of low oil prices, and didn't, now he is using what's left also for political reasons.
I personally believe the SPR was not created to lower the price of gasoline for summer trips to Yellowstone, or to influence midterm elections, but as a safety margin in times of war, for defense purposes. For national security purposes. Exactly like we're going thru now.
What else? Oh yeah...
Most of the SPR releases, almost all, in fact, are trades (1 BO out, 1.4 BO back in) to Trafalgar, Vitol and Glencore who then export the oil to foreign countries. So, none of these trades puts a tiger in your tank, no sir. That's all a big fat whopper.