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2024-06-11 Home Front: Politix

Energy Department increases pace of petroleum stockpile refill as oil prices dip

[JustTheNews] The SPR held nearly 640 million barrels of oil in January 2021, but fell to less than 350 million barrels last summer. The DOE has so far purchased 38.6 million barrels in an effort to refill it.

The DOE is aiming to replenish the Strategic Petroleum Reserve (SPR) at $79 per barrel or less, which the department says is less than the $95 per barrel it received when it sold the oil in 2022, when President Joe Biden sought to push down gasoline prices ahead of the midterm elections.

Posted by Skidmark 2024-06-11 00:00|| || Front Page|| [11138 views ] Top
File under: Tin Hat Dictators, Presidents for Life, & Kleptocrats

#1 Silo hatch maintenance activity has begun. Well they need to open when you fire the rockets I understand by phone call. How many years just sitting. How old the tech. Upgrades for sure hopefully if monies available. Spare parts a problem so cannibalization occurs.

Posted by Dale 2024-06-11 03:24|| 2024-06-11 03:24|| Front Page Top

#2 'Sell high, buy low'...and the profit goes where ?

Posted by Besoeker 2024-06-11 04:18|| 2024-06-11 04:18|| Front Page Top

#3 Fortunately, the democrats kept Trump from topping it off when oil was substantially lower. Got to keep that Orange Man in check!

Posted by Cesare 2024-06-11 06:42|| 2024-06-11 06:42|| Front Page Top

#4

So the O'Biden Admin now is driving the Oil Prices back UP by reducing the public availability on a mass scale.

Posted by NN2N1 2024-06-11 06:50|| 2024-06-11 06:50|| Front Page Top

#5 Sell high, buy low'...

Well, I expect the phrase should be 'sell high, buy higher' for this one.

the profit goes where?

If I remember, the oil was sold to the Russians. Perhaps so they could surge the Ukrainian front.
Much like Hillary selling yellowcake to revitalize the Russian nuclear effort.

Maybe then swapped as a fungible commodity for resale to the Iranians for drones. Be interesting to run across a spectral analysis of the two oil samples.

Posted by Skidmark 2024-06-11 08:40|| 2024-06-11 08:40|| Front Page Top

#6 Oil was down at $72/bar for a few days. It's back up to $78 today

Posted by Lord Garth 2024-06-11 16:04|| 2024-06-11 16:04|| Front Page Top

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