Trump authorizes strategic reserve refill as oil prices drop

[1srelluc]

Trump isn't letting the dem's shutdown stop him from serving America's best interests.

Remember when oil prices dropped to nothing in 2020, and Dems fought to prevent Trump from filling the reserve with practically free oil?

Pepperidge Farms remembers.

Trump Authorizes Strategic Reserve Refill as Oil Prices Dip

Progress is beginning to be made in the wake of falling crude oil prices. Plans are being made to purchase 1 million barrels for the SPR.

The Energy Department announced Tuesday that it plans to buy oil for delivery in December and January, using a portion of the $171 million from President Donald Trump’s signature tax and spending law allotted for crude purchases.

“While this process won’t be complete overnight, these actions are an important step in strengthening our energy security and reversing the costly and irresponsible energy policies of the last administration,” Energy Secretary Chris Wright said in a statement.

When President Donald Trump issued an executive order declaring a “national energy emergency,”’ he directed the Department of Energy (DOE) to prioritize refilling the SPR to its full capacity, which is approximately 714 million barrels.

At the time, the reserve held around 394 million barrels-about 55% of capacity-after historic drawdowns during the Biden administration. As a reminder, in April 2024, the Biden administration refused to purchase oil to refill its reserve.

 

[mudwhistle]

Trump isn't letting the dem's shutdown stop him from serving America's best interests.

Remember when oil prices dropped to nothing in 2020, and Dems fought to prevent Trump from filling the reserve with practically free oil?

Pepperidge Farms remembers.

Trump Authorizes Strategic Reserve Refill as Oil Prices Dip

Progress is beginning to be made in the wake of falling crude oil prices. Plans are being made to purchase 1 million barrels for the SPR.



When President Donald Trump issued an executive order declaring a “national energy emergency,”’ he directed the Department of Energy (DOE) to prioritize refilling the SPR to its full capacity, which is approximately 714 million barrels.

At the time, the reserve held around 394 million barrels-about 55% of capacity-after historic drawdowns during the Biden administration. As a reminder, in April 2024, the Biden administration refused to purchase oil to refill its reserve.

Once this White House deal dies down.....they left will be protesting Trump doing this.

 

[White 6]

Trump isn't letting the dem's shutdown stop him from serving America's best interests.

Remember when oil prices dropped to nothing in 2020, and Dems fought to prevent Trump from filling the reserve with practically free oil?

Pepperidge Farms remembers.

Trump Authorizes Strategic Reserve Refill as Oil Prices Dip

Progress is beginning to be made in the wake of falling crude oil prices. Plans are being made to purchase 1 million barrels for the SPR.



When President Donald Trump issued an executive order declaring a “national energy emergency,”’ he directed the Department of Energy (DOE) to prioritize refilling the SPR to its full capacity, which is approximately 714 million barrels.

At the time, the reserve held around 394 million barrels-about 55% of capacity-after historic drawdowns during the Biden administration. As a reminder, in April 2024, the Biden administration refused to purchase oil to refill its reserve.

Sounds good. It would have been nice to get in on $20.00/barrel prices between April and May of $20.20, instead of prices on crude in the low $60.00 range, now.

 

[Moonglow]

Another trillion added to the debt under Trump, 38 trillion total. This time the fastest it has ever been achieved.

 

[Moonglow]

Gasoline increased by over thirty cents a gallon two days ago because of a fire at a refinery in Indiana.

 

[Sunsettommy]

Gasoline increased by over thirty cents a gallon two days ago because of a fire at a refinery in Indiana.

It is the democrats who constantly fight new refinery construction which would be much safer more efficient and easier to maintain but that isn't what seditious leftist democrat retards want to happen.

 

[martybegan]

Gasoline increased by over thirty cents a gallon two days ago because of a fire at a refinery in Indiana.

You do know the SPR is Crude oil, which is far more stable than gasoline, right?

 

[Admiral Rockwell Tory]

Sounds good. It would have been nice to get in on $20.00/barrel prices between April and May of $20.20, instead of prices on crude in the low $60.00 range, now.

Drinking, while posting? How can spare change money have a date?

If I can interpret your typo, we didn't need to fill it back then. Biden emptied it, remember that, or will your TDS allow you to be honest?

 

[Admiral Rockwell Tory]

Gasoline increased by over thirty cents a gallon two days ago because of a fire at a refinery in Indiana.

Maybe where you live.

 

[White 6]

Drinking, while posting? How can spare change money have a date?

If I can interpret your typo, we didn't need to fill it back then. Biden emptied it, remember that, or will your TDS allow you to be honest?

Yes, but that was not in 2020.
President Biden tapped the Strategic Petroleum Reserve in March 2022, releasing 1 million barrels of oil per day for 180 days in response to rising energy prices due to the war in Ukraine. This release totaled 180 million barrels, marking the largest sale in the reserve's history.
That was when the price of crude had shot up to $117.00/barrel and the price of gasoline was running $4.33 to $5.00/gal by March 3, 2022. And, of course you will remember major oil-producing countries, particularly OPEC and its allies, implemented production cuts in the spring of 2022, to limit supply.

Of course, at that time, US domestic oil product had risen a long way from the production crash of 2020, but not enough to make up for what was being held off the mark by OPEC and it's allies. But, possibly you already knew all of this.

 

[Admiral Rockwell Tory]

Yes, but that was not in 2020.
President Biden tapped the Strategic Petroleum Reserve in March 2022, releasing 1 million barrels of oil per day for 180 days in response to rising energy prices due to the war in Ukraine. This release totaled 180 million barrels, marking the largest sale in the reserve's history.
That was when the price of crude had shot up to $117.00/barrel and the price of gasoline was running $4.33 to $5.00/gal by March 3, 2022. And, of course you will remember major oil-producing countries, particularly OPEC and its allies, implemented production cuts in the spring of 2022, to limit supply.

Of course, at that time, US domestic oil product had risen a long way from the production crash of 2020, but not enough to make up for what was being held off the mark by OPEC and it's allies. But, possibly you already knew all of this.

I never said it was. The SPR is not to be used to offset prices like Biden did. It is to be used for our military during wartime, hence the name Strategic Petroleum Reserve, not the "Let's use this to raise my presidential approval rating" reserve.

 

[White 6]

I never said it was. The SPR is not to be used to offset prices like Biden did. It is to be used for our military during wartime, hence the name Strategic Petroleum Reserve, not the "Let's use this to raise my presidential approval rating" reserve.

I'm just glad gas didn't go up to $6.00/gallon, simply because the rest of oil producing countries quit pump, in order to keep the price high. I have no problem with the sale, myself.

 

[Admiral Rockwell Tory]

I'm just glad gas didn't go up to $6.00/gallon, simply because the rest of oil producing countries quit pump, in order to keep the price high. I have no problem with the sale, myself.

As long as the coffee supply holds out the Army can just walk into battle. My LHA which was larger than a WWII aircraft carrier burned fuel like it was going out of style. A floating small town will do that at 20 knots.

We should never touch the SPR at any time. The Army might want a lift from the Air Force or decide to use trucks, tanks and helicopters to get where they are going.

 

[White 6]

As long as the coffee supply holds out the Army can just walk into battle. My LHA which was larger than a WWII aircraft carrier burned fuel like it was going out of style. A floating small town will do that at 20 knots.

We should never touch the SPR at any time. The Army might want a lift from the Air Force or decide to use trucks, tanks and helicopters to get where they are going.

Looks like it worked out well. Good gamble.

 

[JGalt]

Sounds good. It would have been nice to get in on $20.00/barrel prices between April and May of $20.20, instead of prices on crude in the low $60.00 range, now.

You know how Trump works. He can always renegotiate the price later.

 

[JGalt]

Gasoline increased by over thirty cents a gallon two days ago because of a fire at a refinery in Indiana.

Trump's fault, right?

 

[Admiral Rockwell Tory]

Looks like it worked out well. Good gamble.

Really? How well did Biden do in his reelection bid? That's what it was about!

 

[mudwhistle]

Gasoline increased by over thirty cents a gallon two days ago because of a fire at a refinery in Indiana.

Who told you that?
The price of gas went down here in TN from $2.65 to $2.23/gal

 

[Dekster]

The caverns are never truly filled to capacity as they need to leave room to flood them with water to float the oil up for pumping. Regardless, I gave Trump I credit for trying to refill the reserves (which he didn't quite do) and I will give him credit for doing it again. I mean even evil people aren't all bad. Occasionally lightening strikes.

 

[mudwhistle]

I'm just glad gas didn't go up to $6.00/gallon, simply because the rest of oil producing countries quit pump, in order to keep the price high. I have no problem with the sale, myself.

Diesel is still too high.
Something is artificially inflating the price of Diesel to keep it to nearly $4/gal.