Biden Using Strategic Petroleum Reserve to Ship Oil to Asia

Washington, D.C. – Today, the U.S. Department of Energy’s (DOE) Office of Fossil Energy and Carbon Management announced that contracts have been awarded from the recent Congressionally-mandated Strategic Petroleum Reserve (SPR) crude oil sale.

On August 23, 2021, DOE issued a Notice of Sale for a price-competitive sale of up to 20 million barrels of SPR crude oil. A total of 15 companies responded and 104 bids were submitted for evaluation. Contracts were awarded to the following eight companies:

  • Atlantic Trading & Marketing, Inc.
  • Chevron USA
  • ExxonMobil Oil Corporation
  • Marathon Petroleum Supply and Trading, LLC
  • Motiva Enterprises, LLC
  • Phillips 66 Company
  • Unipec America, Inc.
  • Valero Marketing and Supply Company
Of the 20 million barrels of crude oil awarded, 5.1 million will be sold from the SPR’s Bryan Mound site (near Freeport, TX), 6.1 million from the West Hackberry site (near Hackberry, LA), 0.75 million from the Bayou Choctaw site (near Baton Rouge, LA), and 8.05 million from the Big Hill site (near Winnie, TX). The SPR plans to schedule deliveries between October 1–December 15, 2021.

The Congressionally-mandated sale fulfills requirements of Sections 403 of the Bipartisan Budget Act of 2015 and partially fulfills Section 30204 of the Bipartisan Budget Act of 2018. The proceeds of the sale will be deposited in the U.S. Treasury by the end of the fiscal year.

For more information on the SPR, visit DOE’s website.
Very good! So why don't you do that when you make your comments? You just expect people to believe you?
 
Washington, D.C. – Today, the U.S. Department of Energy’s (DOE) Office of Fossil Energy and Carbon Management announced that contracts have been awarded from the recent Congressionally-mandated Strategic Petroleum Reserve (SPR) crude oil sale.

On August 23, 2021, DOE issued a Notice of Sale for a price-competitive sale of up to 20 million barrels of SPR crude oil. A total of 15 companies responded and 104 bids were submitted for evaluation. Contracts were awarded to the following eight companies:

  • Atlantic Trading & Marketing, Inc.
  • Chevron USA
  • ExxonMobil Oil Corporation
  • Marathon Petroleum Supply and Trading, LLC
  • Motiva Enterprises, LLC
  • Phillips 66 Company
  • Unipec America, Inc.
  • Valero Marketing and Supply Company
Of the 20 million barrels of crude oil awarded, 5.1 million will be sold from the SPR’s Bryan Mound site (near Freeport, TX), 6.1 million from the West Hackberry site (near Hackberry, LA), 0.75 million from the Bayou Choctaw site (near Baton Rouge, LA), and 8.05 million from the Big Hill site (near Winnie, TX). The SPR plans to schedule deliveries between October 1–December 15, 2021.

The Congressionally-mandated sale fulfills requirements of Sections 403 of the Bipartisan Budget Act of 2015 and partially fulfills Section 30204 of the Bipartisan Budget Act of 2018. The proceeds of the sale will be deposited in the U.S. Treasury by the end of the fiscal year.

For more information on the SPR, visit DOE’s website.
ya, that was the planned sale to sell part of SPR. It was because countries would release some of their reserves to the market and would buy the oil / LNG back late. It was like people doing with their stocked canned food.
Then, it seems that the situation from Biden is different. Beside the planned sale, they are planning to release more (50 or 30 millions ??)
 
The one direct effect on current gas prices is Biden's moratorium on exploration on land that provides 25% of USA known gasoline! When he did that, oil company planners found an immediate excuse to raise prices as they would tell people we have been prevented from exploring on Federal lands that provide us 25% of our oil!
Biden is doing that for his green climate plans.
And remember... the USA was energy independent because Trump ENCOURAGED US exploration!
Here are the number of leases former presidents signed and look specifically at Obama's record of only one
year where he signed more leases. Trump increased the exploration leases.
Oil_federal_leasese.png
 
I highly doubt it can push the price back to $60
Dumping huge reserves into the market will clearly lower the price...which SHOULD mean an increase in production by OPEC to make up for lost revenue.
 
Dumping huge reserves into the market will clearly lower the price...which SHOULD mean an increase in production by OPEC to make up for lost revenue.
How about just reopening all the stuff he shut down over more insipid Save the Planet virtue signaling.???
 
Business Insider

"The reasons for the price spike are textbook supply and demand from an economics textbook: Americans have gotten back to driving more this summer as the pandemic has moderated, and a combination of domestic supply interruptions and trouble in energy markets overseas have made crude oil more expensive."
 
are you actually trying to convince people that Biden didnt cut fossil fuel production when he took office ! the man said he was going to transition away from the oil industry during one of the debates !

Biden didn't cut oil production.. He has no control over the oil and gas industry.

Railroad Commission of Texas' Oil & Gas Division
Nov 03, 2021 · The Railroad Commission, through its Oil and Gas Division, regulates the exploration, production, and transportation of oil and natural gas in Texas. Its statutory role is to: prevent waste of the state's natural resources, to protect the correlative rights …
 
while Americans are paying record prices at the pump xiden is bailing out his CCP masters

what a traitor
 
Dumping huge reserves into the market will clearly lower the price...which SHOULD mean an increase in production by OPEC to make up for lost revenue.
Don't think OPEC will increase production. They will either wait it out or decrease production. If they choose the latter option, it means the US loses its mojo :rolleyes:
 
Don't think OPEC will increase production. They will either wait it out or decrease production. If they choose the latter option, it means the US loses its mojo :rolleyes:

OPEC already is increasing production... Saudi Arabia is on target to produce another 3 million bpd.
 
Biden has cut our energy production to a minor fraction of what it was, made us dependent on enemies, is depleting our emergency reserves, China is getting ready to tale Taiwan, and Putin is almost ready to invade Ukraine....

There is no such thing as a coincidence IMO...

Biden and his puppet masters are taking calculated steps, destroying this country...people better wake the F* up, if it isn't already to late...
 
Biden has cut our energy production to a minor fraction of what it was, made us dependent on enemies, is depleting our emergency reserves, China is getting ready to tale Taiwan, and Putin is almost ready to invade Ukraine....

There is no such thing as a coincidence IMO...

Biden and his puppet masters are taking calculated steps, destroying this country...people better wake the F* up, if it isn't already to late...
It’s not too late because liberals are desperately trying to silence us and anything internet and otherwise that support us.
 
OPEC already is increasing production... Saudi Arabia is on target to produce another 3 million bpd.
With declining prices it becomes in their interest to INCREASE production...
 

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