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US to Sell Off Entire Northeast Gasoline Supply Reserve
Posted on 3/5/24 at 11:07 am
Posted on 3/5/24 at 11:07 am
quote:
The sale of the Northeast Gasoline Supply Reserve is among the provisions intended to raise funds in one of six bills setting out appropriations for some federal departments this year after Congress narrowly avoided another shutdown last week.
Under a bill providing funding for the U.S. Department of Energy (DOE) for the fiscal year, a million barrels of the government's strategic reserve of petroleum would be sold off—the same amount as in the NGSR, which is located in New York Harbor, Boston, Massachusetts and South Portland, Maine.
quote:
"Upon the complete of such sale, the Secretary [of Energy] shall carry out the closure of the Northeast Gasoline Supply Reserve," the bill states, and "may not establish any new regional petroleum product reserve unless funding of the proposed regional petroleum product reserve is explicitly requested in advance in an annual budget."
The proceeds of the sale are to be deposited into the Treasury's general fund, and the proposed appropriations act provides stipulations for the sale of the oil and the use of the money generated by it.
Congress is expected to pass the package, which is the result of cross-party negotiations, with votes set to take place this week. Negotiations on a further six spending bills continue.
Newsweek reached out to the DOE via email for comment on Monday.
Newsweek
17
Posted on 3/5/24 at 11:09 am to TigerB8
Yeah this is gonna end well.
Posted on 3/5/24 at 11:09 am to TigerB8
Every time I open this board I flinch
Posted on 3/5/24 at 11:10 am to TigerB8
quote:
Negotiations on a further six spending bills continue.
Six spending bills in the pipeline ????
God knows how many hundreds of billions more tucked away in those. Chock full of foreign aid and aid to illegals on page 267 of a 560 page bill
Frick these people .
Posted on 3/5/24 at 11:12 am to Lawyered
quote:
Frick these people .
Using Steely Dan. Both the band and the giant strap on dildo.
Posted on 3/5/24 at 11:18 am to TigerB8
Why don’t we just sell it to China while we’re at it?
Posted on 3/5/24 at 11:18 am to TigerB8
So, if the Northeast ever gets hit with a pipeline outage as we've seen happen with bad weather or a hack in the southeast, they are screwed. No supply reserves for use if something like the colonial pipeline goes down again.
Posted on 3/5/24 at 11:20 am to BobBoucher
quote:
Why don’t we just donate it to China while we’re at it?
Posted on 3/5/24 at 11:21 am to TigerB8
This is why it’s being phased out:
quote:
The Obama administration established the NGSR following the destruction caused by Superstorm Sandy in 2012, which left many in the northeast without gasoline.
While the reserve is intended to provide a short-term supply to the region in the event of a similar natural disaster, in an October 2023 report, the DOE noted that it had never been used, would provide "minimal relief to a shortage condition," and cost around $16 million a year to maintain.
A May 2022 report by the Government Accountability Office found that the DOE's reserves in the northeast were "not well suited to address the risks of supply disruptions" in the region, with the NGSR containing less than two days of consumption.
Posted on 3/5/24 at 11:21 am to TigerB8
Bastards are going to sabotage us
Posted on 3/5/24 at 11:23 am to GumboPot
quote:
This is why it’s being phased out:
Then why aren’t they transporting this reserve to the national reserve since they want to refill it?
Main cost would be transportation as opposed to buying the fricking gas.
Posted on 3/5/24 at 11:23 am to TigerB8
This is not going to end well but I find it hysterical.
Posted on 3/5/24 at 11:23 am to TigerB8
Come on folks they have our best interests at heart...
Posted on 3/5/24 at 11:25 am to GumboPot
quote:
While the reserve is intended to provide a short-term supply to the region in the event of a similar natural disaster, in an October 2023 report, the DOE noted that it had never been used, would provide "minimal relief to a shortage condition," and cost around $16 million a year to maintain.
Coming from the party of “if it saves just one life….” These idiots will never ever learn.
I’m on team arctic vortex as soon as this sale goes through.
Posted on 3/5/24 at 11:28 am to Figgy
quote:
I’m on team arctic vortex as soon as this sale goes through.
“End drilling - let the bastards freeze in the dark.” - vintage bumper sticker for oil workers
I see similar bumper stickers from paper mill employees about someone wiping their arse with a plastic bag.
Posted on 3/5/24 at 11:31 am to GumboPot
quote:
and cost around $16 million a year to maintain.
So we can send billions to Ukraine, but $16 million a year is all of a sudden a massive expense
Posted on 3/5/24 at 11:32 am to TigerB8
That’s insane. It was just a couple of years ago a cyber attack shut down the delivery pipelines to the NE and created all sort of havoc.
Posted on 3/5/24 at 11:32 am to dcrews
quote:
So we can send billions to Ukraine, but $16 million a year is all of a sudden a massive expense
Similar to how X million for a border fence is a huge cost but we’re fine with public assistance to all these people crossing the border.
Posted on 3/5/24 at 11:34 am to TigerB8
quote:
So, if the Northeast ever gets hit with a pipeline outage as we've seen happen with bad weather or a hack in the southeast, they are screwed. No supply reserves for use if something like the colonial pipeline goes down again.
There's no other storage outside of government storage in the NE?
Posted on 3/5/24 at 11:34 am to TigerB8
I swear to God the current lunacy we live in will not stop until we physically remove these bastards. I say physically remove because it’s been proven a million different times that you can’t just vote them out. They just move on to another part of government to leech off of whether it be a cabinet position or a lobbyist. Their goals and ambitions are so far removed from people of this country that it leaves one at a loss for words.
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