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Started By
Message
Strategic Oil Reserve -- surprise no increase.
Posted on 7/11/25 at 7:04 am
Posted on 7/11/25 at 7:04 am
No significant change since last November.
While I enjoying the low gas prices I thought this would be on a slow rise by now.
Gov link to chart of oil reserve levels
While I enjoying the low gas prices I thought this would be on a slow rise by now.
Gov link to chart of oil reserve levels
12
Posted on 7/11/25 at 7:07 am to Matt225
Waiting for price to bottom out.
Posted on 7/11/25 at 7:07 am to Matt225
quote:
No significant change since last November.
While I enjoying the low gas prices I thought this would be on a slow rise by now.
Why? Do you think we should build fortifications between Ohio and Michigan because they were at war once? This is similar. There was a time when America was a huge net importer of oil, and this was a threat to our national security. Now we are a net exporter of oil, and there is no threat. There is no reason for wasting money on a strategic oil reserve. It is another stupid federal program that has outlived its usefulness.
This post was edited on 7/11/25 at 7:08 am
Posted on 7/11/25 at 7:09 am to Matt225
Waiting for price to drop???? Trump still has 3.5 years left.
Posted on 7/11/25 at 7:15 am to Matt225
Chart looks like it’s going up to me?
Posted on 7/11/25 at 7:44 am to Matt225
Trump will be strategic how he refills it. It’s a hedge in case Sauds flood markets with oil. Chess game.
And perhaps he won’t refill it which is a hedge against Dims in case they ever get back in office they won’t have it to drain again.
And perhaps he won’t refill it which is a hedge against Dims in case they ever get back in office they won’t have it to drain again.
Posted on 7/11/25 at 7:46 am to Matt225
The SPR doesn't even contain the grades of crude oil most desired by major refiners. It's based on 1970's demand and WWII refining technology, which was what most refiner were using.
Then, it no longer has the pipelines to supply any refinery other than those from Sweeney, TX to Pascagoula, MS and near the coast. Those pipelines have all been reversed to bring oil to the Gulf Coast.
In essence the SPR is tits on a boar hog other than to help shortages in other nations via ocean tanker.
Then, it no longer has the pipelines to supply any refinery other than those from Sweeney, TX to Pascagoula, MS and near the coast. Those pipelines have all been reversed to bring oil to the Gulf Coast.
In essence the SPR is tits on a boar hog other than to help shortages in other nations via ocean tanker.
Posted on 7/11/25 at 7:47 am to ifyoubuildit
The SPR receives oil as payment in kind every month from offshore oil and gas production.
Posted on 7/11/25 at 7:51 am to Penrod
quote:
There is no reason for wasting money on a strategic oil reserve. It is another stupid federal program that has outlived its usefulness.
Respectfully, if we ever have to spin up a real war, you will think differently. I just don't think it should be used to manipulate gas prices for political purposes.
Posted on 7/11/25 at 7:57 am to Matt225
Trump literally said that it was more advantageous to refill the reserve at lower prices.
The forecast for crude is lower going into next year. Why refill it now at near 70 when you can do it in the 50s?
The forecast for crude is lower going into next year. Why refill it now at near 70 when you can do it in the 50s?
Posted on 7/11/25 at 7:58 am to Warboo
quote:
Waiting for price to bottom out.
This. It's a weapon to help defend against OPEC+ opening the flood gate. Trump will refill cheap. Plus we can ramp up production rapidly if he removes the road blocks and time leaches sucking the life out of our O & G industry. Help them cut regulatory cost and other bullshite and they can make good profits at lower prices. I'm bullish on oil and gas under Trump but it's going to take a bit to kick in. Once the market realizes it's not going away for decades and decades, you'll see P/E go up to more reasonable values as people see them as long term investments and not cyclical hop in and out investments.
If you want a good one, check out MTDR. Lots of insider buying with MUR but MTDR is my super star. They have midstream operations that they are strategically growing and they have strategically growing production at around 20% year. They hedge well, very well since I've held them. It's a growth stock in a commodity we're going to need for a long time. They have significant natural gas production as well. I'm bullish on natural gas to power our AI/Data centers.
Who's the biggest players in building the natural gas power plants out? Cummins? CAT? Trying to figure out who stands to profit most from these build outs.
Posted on 7/11/25 at 8:03 am to Penrod
quote:
Penrod
There’s such things as light crude and heavy crude. The US produces mostly light crude.
Heavy crude oil is primarily used as feedstock for refineries to produce various petroleum products, including gasoline, diesel, and jet fuel.
Now tell us why the SPR is a waste of money.
Posted on 7/11/25 at 8:10 am to Matt225
This post was edited on 7/14/25 at 8:14 am
Posted on 7/11/25 at 8:16 am to Penrod
quote:
Why? Do you think we should build fortifications between Ohio and Michigan because they were at war once? This is similar. There was a time when America was a huge net importer of oil, and this was a threat to our national security. Now we are a net exporter of oil, and there is no threat. There is no reason for wasting money on a strategic oil reserve. It is another stupid federal program that has outlived its usefulness.
Interesting take. I always considered the main purpose of the S.O.R. was to have a reserve of fuel in case of war. The secondary purpose in my recollection was to use the SOR to hedge against OPEC oil price hikes.
So under the new paradigm of U.S. oil independence does it still make sense to maintain an oil reserve for military defense purposes?
I think so, such as in the situation where our oil rigs are attacked, but I’m open to hear arguments against it.
Posted on 7/11/25 at 8:28 am to Warboo
Don’t worry it will be blocked by a District Judge or Dems when prices drop. Remember in 2020 Trump wanted to add a bunch at record low prices and the Dems blocked it.
Posted on 7/11/25 at 8:52 am to ifyoubuildit
quote:
Chart looks like it’s going up to me?
Me too.
Looks like the Biden admin drained it right before the election and now the Trump admin is on a slow but sure path to filling it back up.
Posted on 7/11/25 at 8:56 am to GumboPot
There was some damage reported when they were draining them. Might take some time to refill.
Posted on 7/11/25 at 8:57 am to Matt225
I think the SPR is getting permanently winded down as our economy continues to modernize. We’ll always have it but it’s going to be less and less important.
O&G, while important for now, isn’t the future. Nuclear (and solar) is.
O&G, while important for now, isn’t the future. Nuclear (and solar) is.
Posted on 7/11/25 at 8:58 am to Matt225
Trumps gonna make Iran pay for their freedom with oil like bush did Iraq
Posted on 7/11/25 at 11:33 am to dkreller
quote:
There’s such things as light crude and heavy crude. The US produces mostly light crude. Heavy crude oil is primarily used as feedstock for refineries to produce various petroleum products, including gasoline, diesel, and jet fuel. Now tell us why the SPR is a waste of money.
That is a much better answer than the other one. However, it's still off base. we can get heavy crude from a lot of places in the world. The reason we needed the strategic petroleum reserve is because of the vast amounts of crude we needed. If, for example, the entire Middle East was off-limits to us, we could still get enough crude to keep our heavy crude refineries in business. Remember, the suppliers could not extort us because they need our refineries just as much as we need their oil. Without our refineries, their oil would be worthless.
Our enormous oil production gives us a baseline that makes us energy secure. Also, we have natural gas coming out wazoo. SPR is an anachronism that was useful once and is now nothing but an expense.
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