- Feb 16, 2016
- Reaction score
- North Carolina
USA Already Exporting Oil from SPR at Record Pace
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.
If the Biden Administration decides to tap U.S. emergency crude reserves to push down domestic energy prices, it may not help all that much. The supplies may just be exported away like last month.
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. Three cargoes were loaded onto a supertanker in the U.S. Gulf Coast and are headed to Asia.
“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.
First why has Bai Dung authorized depleting our SPR fuel reserves? The SPR is part and a prime requirement of and for our National Security.
This act is tantamount to treason by the president of the U.S.
In a previous posting, I mentioned that the SPR should be used wisely to protect our National Security and interests. Yes, I can see releases to offset emergencies within the U.S., However this blatant and illogical decision by Bai Dung to authorize the sale of our SPR to China is beyond the pale.
This is just another lame brained move of Joey Xi in one of his demented moments.