Posted on 04/03/2024 11:40:39 PM PDT by Jonty30
President Joe Biden’s administration dropped its plan to buy oil to refill the Strategic Petroleum Reserve (SPR) due to rising oil prices.
The oil would have gone to Louisiana’s Bayou Choctaw SPR site in August and September.
The administration canceled the purchase despite depleting the emergency supply by 43%, the lowest since the 1980s.
U.S. Won’t Buy Oil to Refill Strategic Petroleum Reserve The administration canceled the purchase despite depleting the emergency supply by 43%, the lowest since the 1980s.
Posted by Mary Chastain Wednesday, April 3, 2024 at 05:00pm 18 Comments FacebookTwitterTelegramLinkedInWhatsAppRedditEmail
President Joe Biden’s administration dropped its plan to buy oil to refill the Strategic Petroleum Reserve (SPR) due to rising oil prices.
The oil would have gone to Louisiana’s Bayou Choctaw SPR site in August and September.
The administration canceled the purchase despite depleting the emergency supply by 43%, the lowest since the 1980s.
The emergency supply holds 600 million barrels. The supply is at 363 million barrels.
Then again, the administration planned only to buy three million barrels. It’s still better than nothing, though:
(Excerpt) Read more at legalinsurrection.com ...
I’m a total free-market, limited gov’t person, but something like the SPR makes sense - got to come up with some way for the executive branch to have less power over it.
Rather have Federal Reserve run it. Or JPM and XOM
If it weren’t for the continual desire to control people, there is a lot the government can do to make life better for the average America, but those who desire control make it impossible to give the government some responsibility in making life better.
“This is the work of the Jihad Junta to make us vincible to the regimes that they take orders from.”
Im not saying there isnt a “jihad junta”, but how would not having a petroleum reserve make the US vulnerable, given current circumstances?
The US is a net petroleum exporter. An international oil embargo will only encourage US production, and hurt everyone else in the world far worse than the US.
If, G** forbid, an insane US government pushes a policy like a US export ban, or effective sanctions against domestic production, then you would have a point.
or Trump has biz sense - Dems are rabid IDEOLOGUES who manipulate their faithful creatures with emotional memes. they hid this before but feel perfectly comfortable saying the “quiet” part out loud because a lot of their followers are sufficiently dumbed down and primed to respond to the bogeyman ploy.
Buy low, sell high is good business, even if it is on behalf of the US government.
“… and put safe guards in to prevent them from changing it“
There are no safe guards that will be meaningful against action by people for whom the law is no obstacle.
Do we have the refinery capability to manage a war?
Yes the US does, depending on how you look at it.
US refinery capacity is @18.5 (some say 18.9) mbpd, equivalent petroleum consumption (refined products entirely) is @20 mbpd
So US refinery capacity is >@90% of US peacetime consumption.
The US is a net importer of refined products, but only on the margins.
However, in wartime there will be domestic rationing, affecting the bulk of actual refined products consumption. Unless the US has to support a vast array of foreign allies (WWII all over again), at the moment the US is good with refinery capacity.
The only time this administration ever worried about spending money
While we see how Leftists plan for future contingencies regarding the SPR (hint, they don’t plan), what we don’t see, unless we read deep into publications (as Brian Berletic does) is how they apply the same policy to MILITARY READINESS, which is why it was TOTALLY IDIOTIC to let the Leftists lead us into World War 3, as they are just now learning that they cannot order new Patriot Batteries on Amazon and have them delivered in 2 days, and instead have to wait at least 5 years for delivery*, and that’s only if China is in a good mood to supply us with the necessary piece-parts to build them as US suppliers long ago shutdown production, or went to skeleton crews.
*the 5 years also includes permitting, facility expansions, training workers whose only mechanical skills are playing video games and majoring in Women’s Hygiene, finding new suppliers for just about complex part (or waiting for the suppliers to also expand production), etc.
That’s the big takeaway
Logistics.
Time is lives.Its instant defeat.
He wants to drìve up gasoline prices to forcr people to buy electric cars.
Well, sell it and it generates revenue. Buy back at a higher price and whoops, its not only a loss, but adds to the deficit.
This is not mentioned enough. You would think that any presidents with the brains God gave a goose would try to either get oil prices down, or wait until they were down to refill the SPR. But in the present context, you somehow know (without even looking) that Biden’s in charge.
Milley and friends believe they can fight a war with trannies driving electric fighter jets, electric tanks and electric troop carriers and humvees. .
Anyone know how many days of use is still in storage?
An amount without context isn’t useful
It is my understanding that its purpose is to allow the military a quick start. They keep the fuel fresh on an ongoing basis by using it or selling on the market and then filling it up again. Doing it that way doesn’t cost much overall.
Trump offered to refill at $24/bbl, but the demonKKKrat Congress blocked it. Now, it’s over $74/bbl and rising...
Not to worry, we stil have a 17 day strategic supply Joe can tap to hold down gas prices before his reelection
My understanding is the SPR can only be emptied and refilled so many times before the caverns collapse.🤨
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