Biden Using Strategic Petroleum Reserve to Ship Oil to Asia

[Weatherman2020]

Xiden is selling our emergency reserve to our enemy.

About 1.6 million barrels of crude from the U.S. Strategic Petroleum Reserve — a monthly record — was shipped out in October, according to data from market intelligence firm Kpler.

"Given the ongoing pace of the current SPR release — 12 million barrels in the last two months and the biggest weekly release so far last week at 3.1 million barrels — it's fair to assume more SPR barrels are going to leave U.S. shores in the weeks ahead," said Matt Smith, an oil analyst at Kpler.

U.S. Is Already Exporting Oil From Strategic Reserve at Record Pace

U.S. Is Already Exporting Oil From Strategic Reserve at Record Pace

www.bloombergquint.com

 

[Rambunctious]

Joe is trying to put the American oil business out of business....and its gonna cost us all more than just money....

 

[Moonglow]

You two fools have no idea how much oil, NG, and oil is exported out of the US. When Trump was doing the same you guys had no idea nor did you care.

 

[task0778]

"The White House has been mulling a range of options to ease soaring pump prices and Democrats are pressing for a potential ban on oil exports as well as the release of crude from the nation’s strategic reserves."

Wait - they want to ban oil exports and also release crude from our SPR? Isn't that a contradiction?

And - how does exporting oil from our SPR help push down domestic energy prices? I'm not seeing the logic there.

Plus - those Reserves are there for an emergency, and Biden's falling poll numbers is not an emergency.

 

[Moonglow]

How long would the US oil reserves last?


The United States has proven reserves equivalent to 4.9 times its annual consumption. This means that, without imports, there would be about 5 years of oil left (at current consumption levels and excluding unproven reserves).

United States Oil Reserves, Production and Consumption ...​

 

[Moonglow]

Trump's budget proposes sale from emergency oil reserve

President Donald Trump's 2021 budget released on Monday proposed a sale of 15 million barrels of oil from the emergency petroleum reserve to help pay for projects overseen by the Department of Energy.

www.reuters.com

 

[Moonglow]

Trump's budget for 2021 why is Trump selling off our oil?

 

[surada]

Xiden is selling our emergency reserve to our enemy.

About 1.6 million barrels of crude from the U.S. Strategic Petroleum Reserve — a monthly record — was shipped out in October, according to data from market intelligence firm Kpler.

"Given the ongoing pace of the current SPR release — 12 million barrels in the last two months and the biggest weekly release so far last week at 3.1 million barrels — it's fair to assume more SPR barrels are going to leave U.S. shores in the weeks ahead," said Matt Smith, an oil analyst at Kpler.

U.S. Is Already Exporting Oil From Strategic Reserve at Record Pace

U.S. Is Already Exporting Oil From Strategic Reserve at Record Pace

www.bloombergquint.com

Premarket stocks: Oil prices are finally falling. Thank China and Joe Biden

 

[Moonglow]

"The White House has been mulling a range of options to ease soaring pump prices and Democrats are pressing for a potential ban on oil exports as well as the release of crude from the nation’s strategic reserves."

Wait - they want to ban oil exports and also release crude from our SPR? Isn't that a contradiction?

And - how does exporting oil from our SPR help push down domestic energy prices? I'm not seeing the logic there.

Plus - those Reserves are there for an emergency, and Biden's falling poll numbers is not an emergency.

The logic is the sale is part of the Trump 2021 budget that was approved by Congress.

 

[Moonglow]

Premarket stocks: Oil prices are finally falling. Thank China and Joe Biden

These people are clueless about how the govt. works and the open market.

 

[jknowgood]

You two fools have no idea how much oil, NG, and oil is exported out of the US. When Trump was doing the same you guys had no idea nor did you care.

We were energy independent then.

 

[surada]

Joe is trying to put the American oil business out of business....and its gonna cost us all more than just money....

Don't be stupid. The US has the highest production costs in the world.. If the ppb goes down too low, they lose their shirts.

 

[jknowgood]

Trump's budget for 2021 why is Trump selling off our oil?

Gonna be along 3 years of excuses and but Trump. Lol

 

[Moonglow]

We were energy independent then.

Is that why Trump increased imports of Russian oil?

The United States imported an average of 538 thousand barrels of petroleum per day from Russia in 2020, up from 520 thousand barrels per day in the previous year.Jun 21, 2021

U.S. petroleum imports from Russia 2000-2020 - Statista​

 

[surada]

We were energy independent then.

We have NEVER been energy independent. We import 5-8 million bpd even in 2020 during the shut down.

 

[WTH_Progs?]

Nothing like going from energy independence to Demonicratism.

 

[Moonglow]

Gonna be along 3 years of excuses and but Trump. Lol

The budget is not made on this day for last year it is made this day for next year, your ignorance is no excuse for being stupid.

 

[Rambunctious]

Don't be stupid. The US has the highest production costs in the world.. If the ppb goes down too low, they lose their shirts.

Last year we were energy independent...what are you talking about?...

 

[Moonglow]

We have NEVER been energy independent. We import 5-8 million bpd even in 2020 during the shut down.

They can't understand the lies that Trump fed them.

 

[jknowgood]

We have NEVER been energy independent. We import 5-8 million bpd even in 2020 during the shut down.

You loons can lie greatly.