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Posted on 03/11/2026 4:02:22 PM PDT by janetjanet998
TRUMP AUTHORIZED DEPARTMENT OF ENERGY TO RELEASE 172 MLN BARRELS FROM STRATEGIC PETROLEUM RESERVE, BEGINNING NEXT WEEK, DOE SAYS
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But low, sell high....
Prices won’t come down in California.
Newsom needs the gas tax $$ for his high speed rail project - 18 years, not an inch of track has been laid down....
Like, Dude, this is just my opinion, but...
This release will not make any difference to prices.
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That is not why the Strategic Petroleum Reserve exists.
But like every other federal government project,
it gets expanded far beyond why it was created.
So we’re at a + 1/2 BILLION! barrels of oil planned to eventually go into the world market....and the price of oil went up ? Gotcha
You are correct. At 20 million barrels of usage per day, this will be essentially useless, good for less than nine days.
Good price to sell some at. Plenty still left. Oil shocks have always come and gone.
US oil reserves are in the ground, the need for an active buffer for national defence is overstated. Ultimately the cost of defence is perhaps only 3% controlled by short term oil prices.
Correct. And we should be just as critical of Trump's politically motivated move as we were of Biden's when he did the same thing.
I thought the word “Strategic” might give a clue to its purpose. Perhaps I am wrong.
reportedly is only 60percent full. Too bad Trump did not fill it up when oil was cheap.
It is about 57% full as of last month:
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WCSSTUS1&f=W
Proclaim victory, make whatever deal you have to make to get the Strait of Hormuz open and get the hell out.
The price keeps rising despite this news.
Tapping the reserve never works.
It’s ineffective policy, dressed up to look like a good idea. Lipstick on pigs.
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