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Message
re: US Dept of Energy preparing to start SPR refill purchases
Posted on 3/2/23 at 6:12 pm to fightin tigers
Posted on 3/2/23 at 6:12 pm to fightin tigers
quote:
You realize the highest bidder gets the oil, right?
Whoa, wait a minute. Vlad Putin and Xi Jinging be pals now....right? So does this mean Chyna gets their oil (and gas) from the Ruskies? Effectively denying the "Big Guy" a nice fat 10% cut?
Sigh! So how can Creepy Joe Biden screw this thing up more than it is?
Things be heatin up. It do.
This post was edited on 3/2/23 at 6:16 pm
Posted on 3/2/23 at 6:28 pm to Zarkinletch416
It sells on the global market in order to get the best price. If you limit outside buyers really you would likely only screw yourself (i.e. the taxpayer). The stockholders of the buyers would still profit though.
Even then, you could have someone like P66 or potentially a mid-stream play to blend the crude then sell it on the open market as a refined product.
Honestly, the sale shouldn't be happening and the buying shouldn't be happening right now, but Congress moves slow (by design) and have zero chance of reacting to market changes because of the design.
Even then, you could have someone like P66 or potentially a mid-stream play to blend the crude then sell it on the open market as a refined product.
Honestly, the sale shouldn't be happening and the buying shouldn't be happening right now, but Congress moves slow (by design) and have zero chance of reacting to market changes because of the design.
This post was edited on 3/2/23 at 6:28 pm
Posted on 3/2/23 at 7:44 pm to ragincajun03
quote:
in response to the war in Ukraine.
This is the kind of bs that makes my blood boil.
FJB...lying SOS!
Posted on 3/2/23 at 7:52 pm to ELVIS U
Oct after continuing to sell off..
quote:
Second, the President is announcing that the Administration intends to repurchase crude oil for the SPR when prices are at or below about $67-$72 per barrel, adding to global demand when prices are around that range.
This post was edited on 3/2/23 at 7:53 pm
Posted on 3/2/23 at 7:59 pm to ragincajun03
OT needs another brain buster math question.
Karen purchases 1000 widgets at $10 apiece.
She sells them all to Ronnie for $100 apiece.
She then buys 1000 more widgets for $100 apiece.
How much profit did Karen make?
Karen purchases 1000 widgets at $10 apiece.
She sells them all to Ronnie for $100 apiece.
She then buys 1000 more widgets for $100 apiece.
How much profit did Karen make?
This post was edited on 3/2/23 at 8:00 pm
Posted on 3/2/23 at 8:07 pm to LSUDUCKMAN67
quote:
They can’t put oil in anytime soon since they’re still drawing down….
This isn’t all accurate. A lot is, but not mostly.
This post was edited on 3/2/23 at 8:13 pm
Posted on 3/2/23 at 11:24 pm to ragincajun03
They already get it from wells on Fed territory like deepwater offshore as payment in kind for royalties.
Posted on 3/2/23 at 11:27 pm to ragincajun03
The real truth is that the SPR is tits on a boar hog. It only contains 2 grades which refineries were configured for in the 1970's. In the 80's all that changed except for small refineries like Placid, Port Allen, and Alon Krotz Springs. Then the last decades all of the pipeline taking crude inland from TX and LA have all been reversed.
They shouldn't be spending any money at all. It is already able to provide the crude oil for the length of time it is supposed to by LAW.
They shouldn't be spending any money at all. It is already able to provide the crude oil for the length of time it is supposed to by LAW.
Posted on 3/2/23 at 11:39 pm to notiger1997
quote:
Very few understand at all how any of this stuff works.
The market has changed drastically since the 1970's Crude oil is not all the same. Transportation to Europe is cheaper than to the East Coast by ship. Barge isn't much closer either. On the Louisiana Light Sweet grade Hawaiian refineries get first shot. They cannot use Alaskan due sulfur content. It's actually cheaper to ship via a supertanker from the Middle East to Hawaii than the Gulf Coast.
Posted on 3/3/23 at 2:25 am to tadman
quote:
Our country is being run by people with the mind of a child.
Children are smarter than these people.
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