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US Releases More Oil From Strategic Reserve - to ExxonMobil
Posted on 3/8/22 at 12:15 pm
Posted on 3/8/22 at 12:15 pm
quote:
The U.S. Department of Energy has approved another exchange of 2.7 million barrels of crude oil for release to ExxonMobil from the strategic petroleum reserve (SPR), the DOE announced on Monday.
quote:
There have been 38 million barrels of crude oil from the SPR sold through sales mandated by Congress and including sales accelerated by the administration since last September.
This includes 19.9 million barrels awarded in September and 18.1 million in January for a total of 62.4 million barrels put on the market through sales and the exchange so far.
Last week President Joe Biden announced an emergency sale of an additional 30 million barrels due to Russia's invasion of Ukraine, which has sharply increased oil prices worldwide.
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Posted on 3/8/22 at 12:18 pm to member12
That's around 2% of our nations daily use. So that will last about 5 minutes.
Posted on 3/8/22 at 12:20 pm to member12
quote:
approved another exchange of 2.7 million barrels of crude oil
So, BIG NEWS over what Russia exports in half a day....
FJB
quote:
Russia is the third-largest producer of petroleum after the U.S. and Saudi Arabia, exporting almost 5 million barrels a day
quote:
In 2021, the US imported an average of 209,000 barrels per day (bpd) of crude oil and 500,000 bpd of other petroleum products from Russia, according to the American Fuel and Petrochemical Manufacturers (AFPM) trade association.
This represented three percent of US crude oil imports and one percent of the total crude oil processed by US refineries. By contrast, the US imported 61 percent of its crude oil from Canada, 10 percent from Mexico, and six percent from Saudi Arabia in the same year.
This post was edited on 3/8/22 at 12:22 pm
Posted on 3/8/22 at 12:20 pm to Big Gorilla
quote:
That's around 2% of our nations daily use
It's about 14% of what the US imports in a day.
Posted on 3/8/22 at 12:21 pm to member12
Rationing. Coming to a state near you soon!
Brought to you by the Joe Biden administration. Do your part!!!
Brought to you by the Joe Biden administration. Do your part!!!
Posted on 3/8/22 at 12:22 pm to member12
The SPR releases are political symbolism and nothing more
Posted on 3/8/22 at 12:22 pm to Big Gorilla
quote:
That's around 2% of our nations daily use. So that will last about 5 minutes.
Stop being obtuse. That's at least 4 hours worth of consumption right there.
Posted on 3/8/22 at 12:22 pm to Big Gorilla
quote:sounds like we need to get away from Oil.
That's around 2% of our nations daily use. So that will last about 5 minutes.
Posted on 3/8/22 at 12:23 pm to Byron Bojangles III
quote:
sounds like we need to get away from Oil.
And move to………. Unicorn farts?
Posted on 3/8/22 at 12:24 pm to Byron Bojangles III
quote:
sounds like we need to get away from Oil.
We've made strides, but we can't do it overnight.
And we still need to ramp up production in the meantime.
Posted on 3/8/22 at 12:25 pm to beerJeep
quote:Sounds environmentally friendly.
Unicorn farts
Posted on 3/8/22 at 12:25 pm to Byron Bojangles III
quote:
sounds like we need to get away from Oil.
get away from oil in what way? fuel? plastics? lubes?
Posted on 3/8/22 at 12:28 pm to Klark Kent
Many people don't realize that nearly every product made requires oil to either produce or to fuel the production.
Posted on 3/8/22 at 12:30 pm to Byron Bojangles III
quote:
sounds like we need to get away from Oil.
Posted on 3/8/22 at 12:32 pm to VABuckeye
yeah, personally i can’t wait to get back to the stone age in terms of materials
Posted on 3/8/22 at 12:33 pm to member12
Just paid $75 at the pump when trying to fill up. Gas station wouldn't allow purchases larger than $75 on gas. So now i can't even fill up all the way.
frick you liberals. This is your fault.
frick you liberals. This is your fault.
Posted on 3/8/22 at 12:35 pm to frequent flyer
quote:
That's at least 4 hours worth of consumption right there.
2% of 24 (hours) is 0.48 x 60 = 28.8 minutes of our average consumption.
Posted on 3/8/22 at 12:35 pm to Byron Bojangles III
quote:
sounds like we need to get away from Oil.
You first. Will you pledge to throw away and never purchase any petroleum based products?
Posted on 3/8/22 at 12:38 pm to member12
Where is this strategic oil reserve?
Posted on 3/8/22 at 12:38 pm to ShaneTheLegLechler
A drop in the massive bucket
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