they use the ones round here to store LP
Posted on 09/09/2016 2:59:36 PM PDT by bananaman22
Aging infrastructure could render the U.S. strategic petroleum reserve (SPR) increasingly ineffective, according to a new report from the Department of Energy.
The U.S. has stored roughly 700 million barrels of crude oil in salt caverns in Texas and Louisiana for decades. The SPR was established in the aftermath of the Arab oil embargo in 1973, which painfully revealed U.S. oil dependence as high prices drove up inflation, created fuel shortages and lines at gas stations, and rocked the American economy. The SPR was setup to stash 90 days’ worth of supply into storage for safekeeping, meant to be used in the event of a supply outage.
Decades of wear and tear mean that the infrastructure is now in desperate need of an upgrade. The DOE says Congress needs to cough up $375.4 million to make repairs, otherwise the SPR may not be all that effective. “Most of the critical infrastructure for moving crude within the SPR has exceeded its serviceable life, increasing maintenance costs and decreasing system reliability,” the report concludes.
(Excerpt) Read more at oilprice.com ...
Are the salt caverns that “tight” to hold oil?
1. What did they pay for it?
2. What will they be paid for it?
Sounds like they might be trying to empty the treasury before this regime expires, to harm the Trump administration. Like the Clinton people who took the Ws off of the keyboards, only worse!
Well, it came out of the ground in the first place, no?
Metrhinks Obama is out to destroy us before January ...
We need a serious restoration of government.
Tea Pot Dome. Look it up.
If all goes well, I’m gonna try to make my way to a biggie salt mine in KS...maybe this Saturday. I’m weird...if I had my choice between a salt mine in KS or HI, I’d most lijeky choose the salt mine.
*likely...
What is this about 5 billion dollars? HOw much do we use each day?
selling the SPR to pay more money to Iran.... what a world
This doesn’t help the US, and it doesn’t really help Saudi Arabia or other ME oil producers. So why do it?
Is it just that Obama likes to buy high and sell low to bankrupt the Treasury?
Typical government program - buy high and sell low. But, when you give away billions to fund terrorism in the middle east, you have to get the money from somewhere.
Will hurt the bust of the oil industry even more—and the fracking industry too—so getting a 2-for-the-price-of-1
“Tea Pot Dome. Look it up.”
Given this administration, kind of smacks of it, doesn’t it?
used to tramp around some of the sites in the 80s, lots of infrastructure looked pretty bad then.. they added sites since then.. In Salt We Trust :-)
great .... sell when the price is at a record low... geniuses we got running things!
The American oil companies are capable now of producing however much oil the nation needs. The Reserve is probably anachronistic now.
they use the ones round here to store LP
They leak a lot less than ya might expect..
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