US oil reserves nearing critical low

[Bad Bob]

As mentioned in the article, the SPR is nearing a critical low point which puts the nation at risk should a major oil shock hit the nation again. American Petroleum Institute chief Mike Sommers urges the reopening of the Strait of Hormuz ASAP in order to refill the reserves.

API oil chief warns US Strategic Petroleum Reserve nearing critical low | investingLive

The SPR buffer is shrinking fast, gasoline stocks have taken a summer-sized hit, and only Hormuz can fix it.

investinglive.com

An on-the-record warning from the API chief about SPR operational thresholds will sharpen trader focus on inventory data and the pace of reserve drawdowns. At 350 million barrels, the SPR is approaching the level at which roughly 70 million barrels remain as the functional floor, limiting the government's ability to intervene in another supply shock. The gasoline inventory draw of 38 million barrels is the most immediately price-sensitive detail, representing nearly a full summer driving season's worth of stock already gone. Rig count increases and rising Permian and Alaska output are the only near-term offsets, but Sommers is explicit that domestic supply response cannot substitute for reopening the strait.

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API CEO Mike Sommers warns the US SPR is approaching operationally critical levels at 350 million barrels, with gasoline stocks already down 38 million barrels, urging rapid reopening of the Strait of Hormuz.

Summary: Source: Mike Sommers, CEO, American Petroleum Institute, speaking on CNN

• The SPR currently holds approximately 350 million barrels, with roughly 20% of total capacity required to remain for the system to stay operational, putting the functional floor around 70 million barrels
• Sommers says the API is raising alarm bells now, as reserve levels are entering a range of genuine concern
• Gasoline inventories have already drawn down by 38 million barrels, nearly equivalent to the entire stock typically consumed during the US summer driving season
• Rig counts have risen week on week and production increases are emerging in Alaska, the Permian Basin and other US regions, driven by higher prices
• Sommers says the only viable short-term solution to the supply problem is reopening the Strait of Hormuz as quickly as possible

 

[gipper]

Who is responsible for this?

 

[Gabe Lackmann]

Who is responsible for this?

 

[Mikeoxenormous]

As mentioned in the article, the SPR is nearing a critical low point which puts the nation at risk should a major oil shock hit the nation again. American Petroleum Institute chief Mike Sommers urges the reopening of the Strait of Hormuz ASAP in order to refill the reserves.

API oil chief warns US Strategic Petroleum Reserve nearing critical low | investingLive

The SPR buffer is shrinking fast, gasoline stocks have taken a summer-sized hit, and only Hormuz can fix it.

investinglive.com

An on-the-record warning from the API chief about SPR operational thresholds will sharpen trader focus on inventory data and the pace of reserve drawdowns. At 350 million barrels, the SPR is approaching the level at which roughly 70 million barrels remain as the functional floor, limiting the government's ability to intervene in another supply shock. The gasoline inventory draw of 38 million barrels is the most immediately price-sensitive detail, representing nearly a full summer driving season's worth of stock already gone. Rig count increases and rising Permian and Alaska output are the only near-term offsets, but Sommers is explicit that domestic supply response cannot substitute for reopening the strait.

-

API CEO Mike Sommers warns the US SPR is approaching operationally critical levels at 350 million barrels, with gasoline stocks already down 38 million barrels, urging rapid reopening of the Strait of Hormuz.

Summary: Source: Mike Sommers, CEO, American Petroleum Institute, speaking on CNN

• The SPR currently holds approximately 350 million barrels, with roughly 20% of total capacity required to remain for the system to stay operational, putting the functional floor around 70 million barrels
• Sommers says the API is raising alarm bells now, as reserve levels are entering a range of genuine concern
• Gasoline inventories have already drawn down by 38 million barrels, nearly equivalent to the entire stock typically consumed during the US summer driving season
• Rig counts have risen week on week and production increases are emerging in Alaska, the Permian Basin and other US regions, driven by higher prices
• Sommers says the only viable short-term solution to the supply problem is reopening the Strait of Hormuz as quickly as possible

https://www.politico.com/news/2023/10/16/biden-oil-reserve-fuels-00121298

Biden’s administration sold off more than 40 percent of the Strategic Petroleum Reserve last year to help limit rising fuel prices after Russia invaded Ukraine, leaving the stockpile at its lowest levels since the early 1980s. That’s fueling Republican accusations that Biden has left the U.S. vulnerable to a disruption of global oil supplies — at a time when Hamas’ terrorist attacks in Israel are stoking fears of a wider regional war disrupting fuel shipments from the Middle East.
“That’s Joe Biden’s fault for trying to lower the price of gas before the election,” House Natural Resources Chair Bruce Westerman (R-Ark.) told POLITICO. /quote]

 

[Bad Bob]

Who is responsible for this?

The same person who kicked off the current war in Iran last February.

 

[Mikeoxenormous]

The same person who kicked off the current war in Iran last February.

That would be 3 months ago. How many months now since Joe Biden allowed Russia to invade Ukraine?

 

[Bad Bob]

https://www.politico.com/news/2023/10/16/biden-oil-reserve-fuels-00121298

Bu....bu...but Biden. LOL

Are you claiming Biden is responsible for the current oil crisis too?

https://www.congress.gov/crs-product/IN12542

 

[Muhammed]

That would be 3 months ago. How many months now since Joe Biden allowed Russia to invade Ukraine?

147

Since February 2014.

 

[Muhammed]

Bu....bu...but Biden. LOL

Are you claiming Biden is responsible for the current oil crisis too?

https://www.congress.gov/crs-product/IN12542

Listen to her trying to pull excuses out of her ass. What a skank.

 

[Bad Bob]

That would be 3 months ago. How many months now since Joe Biden allowed Russia to invade Ukraine?

IDK and it's irrelevant to the current national security threat. Your post is just another silly MAGAt derail off topic. If you can't stay on the topic of the current draining of US oil reserves, please have the courtesy to go elsewhere. TIA.

I suspect the Strait won't be open before the Midterms. That means Trump will continue to drain the SPR in order to keep a lid on gas prices. He'll do this even if it goes below the functional floor and puts the nation at risk should another oil crisis develop before it can be filled above that level.

 

[Mikeoxenormous]

Bu....bu...but Biden. LOL

Are you claiming Biden is responsible for the current oil crisis too?

https://www.congress.gov/crs-product/IN12542

Yes and also the very high prices that the Green New Scam caused. When you add 9% inflation to the economy, it takes a long time to recover from that jolt, from the dolt. Shame you are a low IQ voter.

 

[Bad Bob]

Yes and also the very high prices that the Green New Scam caused. When you add 9% inflation to the economy, it takes a long time to recover from that jolt, from the dolt.

Fascinating. IConspriracy Theories How does the "Green New Scam" work?

I don't understand your point about 9% inflation. US inflation peaked at 9.1% June 2022 then steadily dropped 3% by June 2023. It was 2.7% Nov 2024. Right now, due to the Dementia Don's war in Iran, it's rising and currently 3.8%. Mostly due to oil prices which explains why Trump is draining the SPR and creating a national security problem.

Shame you are a low IQ voter.

Why the personal attack?

Monthly annual inflation rate in the U.S. 2026| Statista

In April 2026, the monthly annual inflation rate in the United States was 3.8 percent.

www.statista.com

 

[Hafar1014]

Who is responsible for this?

BIden

 

[PeterPilot]

As mentioned in the article, the SPR is nearing a critical low point which puts the nation at risk should a major oil shock hit the nation again. American Petroleum Institute chief Mike Sommers urges the reopening of the Strait of Hormuz ASAP in order to refill the reserves.

API oil chief warns US Strategic Petroleum Reserve nearing critical low | investingLive

The SPR buffer is shrinking fast, gasoline stocks have taken a summer-sized hit, and only Hormuz can fix it.

investinglive.com

An on-the-record warning from the API chief about SPR operational thresholds will sharpen trader focus on inventory data and the pace of reserve drawdowns. At 350 million barrels, the SPR is approaching the level at which roughly 70 million barrels remain as the functional floor, limiting the government's ability to intervene in another supply shock. The gasoline inventory draw of 38 million barrels is the most immediately price-sensitive detail, representing nearly a full summer driving season's worth of stock already gone. Rig count increases and rising Permian and Alaska output are the only near-term offsets, but Sommers is explicit that domestic supply response cannot substitute for reopening the strait.

-

API CEO Mike Sommers warns the US SPR is approaching operationally critical levels at 350 million barrels, with gasoline stocks already down 38 million barrels, urging rapid reopening of the Strait of Hormuz.

Summary: Source: Mike Sommers, CEO, American Petroleum Institute, speaking on CNN

• The SPR currently holds approximately 350 million barrels, with roughly 20% of total capacity required to remain for the system to stay operational, putting the functional floor around 70 million barrels
• Sommers says the API is raising alarm bells now, as reserve levels are entering a range of genuine concern
• Gasoline inventories have already drawn down by 38 million barrels, nearly equivalent to the entire stock typically consumed during the US summer driving season
• Rig counts have risen week on week and production increases are emerging in Alaska, the Permian Basin and other US regions, driven by higher prices
• Sommers says the only viable short-term solution to the supply problem is reopening the Strait of Hormuz as quickly as possible

Mike Sommers is like Donald and the Zionists--he cannot yet grasp that Hormuz is on the other side of the planet, is essentially in Iranian waters, and is not controlled by the US Navy, cannot be controlled by the US Navy.

He is correct regarding SPR, but he should be logical and point out that US Government decisions are what has emptied it. Iran didn't, Donald did. Grow up Mike. Grow up Donald.

 

[Bad Bob]

Mike Sommers is like Donald and the Zionists--he cannot yet grasp that Hormuz is on the other side of the planet, is essentially in Iranian waters, and is not controlled by the US Navy, cannot be controlled by the US Navy.

He is correct regarding SPR, but he should be logical and point out that US Government decisions are what has emptied it. Iran didn't, Donald did. Grow up Mike. Grow up Donald.

Thanks for in calm, rational and intelligent repy, Peter. It's too rare on USMB. LOL

IMO, Sommers is being nice to our demented president and his Operation Epstein Distraction.
You, I and, I believe, Sommers understands the Strait cannot be controlled by the US Navy...or the US at all short of taking over a significant part of the country or, as the Dementia Don suggests, nuking it off the planet.

Agreed our leaders need to "grow up", but like Mike, I think you are seeking to avoid the wrath of the MAGAts by singling out the Dementia Don. No problem and very understandable. Still, I disagree Mike isn't seeing both the problem and the solution clearly. It won't be solved militarily. Trump keeps thinking it will.

Every time he makes an empty threat, like committing war crimes such as “a whole civilization will die tonight”, and fails to follow through, he looks both weak and stupid which, as the President of the United States and our Commander-in-Chief, makes the entire United States look weak and stupid.

I strongly believe our nation can be better and will get past this low point in our nation's history.

Time until a MAGAt suggests I want Trump to nuke Iran: 10...9...8...

 

[Mikeoxenormous]

Fascinating. IConspriracy Theories How does the "Green New Scam" work?

I don't understand your point about 9% inflation. US inflation peaked at 9.1% June 2022 then steadily dropped 3% by June 2023. It was 2.7% Nov 2024. Right now, due to the Dementia Don's war in Iran, it's rising and currently 3.8%. Mostly due to oil prices which explains why Trump is draining the SPR and creating a national security problem.

Why the personal attack?

Monthly annual inflation rate in the U.S. 2026| Statista

In April 2026, the monthly annual inflation rate in the United States was 3.8 percent.

www.statista.com

View attachment 1267608

Dumbass, 9% inflation that means on $100, 9$ was added that year on everything. Then inflation rate started going down, but added to the $109 the following year, so another $6 added. That meant $115 dollars the year after that, and even when it got down to 4% that is still 4% on $115 dollars. So every year of the Green New Scam, people were hurting and even now, with 3% it still is Biden's shock inflation that we are feeling. Such stupid twits who vote dumbocrat.

 

[Bad Bob]

Dumbass, 9% inflation that means on $100, 9$ was added that year on everything. Then inflation rate started going down, but added to the $109 the following year, so another $6 added. That meant $115 dollars the year after that, and even when it got down to 4% that is still 4% on $115 dollars. So every year of the Green New Scam, people were hurting and even now, with 3% it still is Biden's shock inflation that we are feeling. Such stupid twits who vote dumbocrat.

Thank you for that informative and emotional reply, Mike. It didn't explain your "Green New Scam" but it was still insightful.

 

[Mikeoxenormous]

Thank you for that informative and emotional reply, Mike. It didn't explain your "Green New Scam" but it was still insightful.

Why is it you dont know about the Green New Scam?

 

[Mikeoxenormous]

House Oversight Committee releases report exposing Biden’s Green New Deal scam | The Highland County Press

WASHINGTON, D.C. – This week, House Committee on Oversight and Government Reform Committee Chairman James Comer (R-Ky.) released a majority staff report titled, “The Green New Scam: The Greenhouse Gas Reduction Fund,” exposing how the Biden Administration created a scheme to funnel tens of billions of taxpayer dollars to left-leaning nonprofits run by Democratic allies.

Commies like Phauxcahontis and Bernie, say they hate Oligarchs, yet when it came to Solar and Wind Farm CEOs getting billions of tax dollars for failed energy policies, they turned that blind eye, while working class people were suffering from high inflation, which we still feel today. Then Bad Bobby here has no clue about the scam, which is why the US is in such a mess. If people cant stay up on current events then they shouldnt be allowed to vote, because a person who stupidly votes democrat is an enemy of the rest of the people.

 

[Bad Bob]

Why is it you dont know about the Green New Scam?

Because I'm not a conspiracy theorist nor a mind reader. The fact you can't explain you own complaint is very interesting, Mike.