USO: The Future Of Oil As The Strategic Petroleum Reserve Release Nears End

Seeking alpha ^ | 11/13/2022 | Schwartz

[Phoenix8]

Summary

The US Strategic Petroleum Reserve released its last primary batch of oil this week, soon ending a significant source of commercial oil inventories. US and global oil production has plateaued and may decline over the coming months as drilling activity is below necessary levels. The sharp decline in the US dollar could boost oil prices if it continues as the Federal Reserve becomes less hawkish. USO is an attractive investment due to ~12% "roll yield" through persistent backwardation in the oil futures curve. An economic shock could upset the oil price rally, but global oil demand may not moderate until prices are much high

[Phoenix8]

Sneaky, underhanded and risky as it was to national security I wonder if this move helped Biden more than we give him credit for? It’s hard to believe the average low info voter would fall for such a slight of hand trick to lower cost at the pump right before the election…nahh actually it’s not.

Strategic Petroleum Reserve oil will continue to flow in until late November/Early Dec and coupled with an expected loosening of COVID restrictions in China (hence more oil demand there) could mean some significant prices increases in gasoline.

Price hikes conveniently occurring well after the final election results are tabulated, which was exactly the goal of some Dem think-tank. IMO

[ZOOKER]

A trifecta of cheap gasoline, student loan forgiveness and fetal homicide carried the day for the Dems.
Two of the three (the gas and the loan $) soon to be jerked away again. They'll promise it to you again next election.
If this is what the public really wants, the country deserves to go under.

[Jonty30]

Hello cheap $7.00/gallon.

[Ronaldus Magnus III]

The democRATS have a myriad of reasons for using oil. Since the Drive-By Media is the communication arm (information & disinformation) of the RATS, we are only privy to some of the insanity. Weakening America and funneling massive amounts of funds to themselves is some of it. I remember when Billy Jeff Clinton ‘tapped’ the strategic reserve, much or all went to Occidental Petroleum. Just so happens that one of the long term investors in Occidental is the Globull Gloaming family AL Gore.

[Singermom]

biden is draining the SOR and will NEVER refill it. His goal is to leave it empty.

[knarf]

Calling idiots low information is slander against the information industry.

For America, the common denominator is, and has been, the public school system.

[dsrtsage]

Hope
for spare
Change

[Bikkuri]

"risky"

This is exactly what they (demoncraps and WEF) wanted. They are that much closer to collapsing the USA now.

[sauropod]

.

[MMusson]

The MIDTERM STRATEGIC RESERVE

[Vermont Lt]

Wait until the rail strike.

Our oil isn’t walking itself to refineries,

[hinckley buzzard]

When the price of gas is not reported on the news the average low income voter doesn’t think much about it even though he is paying through the nose. In a mediated culture the exorbitant can soon become the status quo. Clearly, from post election surveys, the price of energy was not a factor in the vote.

[Phoenix8]

For some reason I don’t believe the Carter administration intended it to be used for political gain coming right after the Arab Energy Embargo of 73-74.

That BTW illustrates how rotten and horrible Biden is…he doesn’t even compare favorably to JIMMY CARTER. LOL but so true.

[MarMema]

Agreed, but not just rotten and horrible...evil.