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Started By
Message
re: U.S. to Purchase One Million Barrels for the Strategic Petroleum Reserve
Posted on 10/21/25 at 7:03 pm to ragincajun03
Posted on 10/21/25 at 7:03 pm to ragincajun03
That’s like 6 hours of consumption
0
Posted on 10/21/25 at 7:39 pm to fightin tigers
Why don’t we do a barrel tax where, say, every barrel that passes a certain pumping point, 1 gallon gets siphoned off and dripped into the salt domes?
Keep the valve open until they’re all full then shut it off.
Don’t buy shite, just take it, mafia style.
Keep the valve open until they’re all full then shut it off.
Don’t buy shite, just take it, mafia style.
Posted on 10/21/25 at 7:40 pm to Bard
quote:
The SPR is physical oil, not a paper asset. It's pumped into one of a handful of underground salt caverns in LA and TX.
One of those caverns is just West of Dow Chemical.
The Loop (La Offshore Oil Platforn) pumps into caverns, then uses pipelines to distribute the oil.
Posted on 10/21/25 at 7:41 pm to fightin tigers
quote:
What a terrible plan
Why?
Posted on 10/21/25 at 7:56 pm to fareplay
quote:
fareplay
quote:
Yeah we def going in recession
Not sure you are equipped to make such an assessment
Posted on 10/21/25 at 8:11 pm to TDTOM
I explained earlier in the thread but the basic idea is that we have a method of refilling the reserves for "free" but have to purchase crude in order to cover the mandatory draw downs.
Forget the exact number but it is somewhere around 120 million barrels over the next 3 years are required to cover the budget. Politicians use the SPR as a piggy bank to cover the budget without raising taxes.
Forget the exact number but it is somewhere around 120 million barrels over the next 3 years are required to cover the budget. Politicians use the SPR as a piggy bank to cover the budget without raising taxes.
Posted on 10/21/25 at 8:13 pm to fightin tigers
How do we refill them for free?
Posted on 10/21/25 at 8:28 pm to TDTOM
quote:
How do we refill them for free?
System of exchanges. Basically companies can pull from the reserves during disruptions and when they return the oil they pay interest with oil instead if cash.
Exxon got an exchange a few months ago, don't really know the details on that one other than they pulled some bullshite favors.
Posted on 10/21/25 at 8:55 pm to sqerty
quote:
The US consumes 20 million a day.
Incredible... at 20 milllion A DAY... I wonder how long oil can hold out.
If people are freaking because snap benefits running out on Nov 1... It is going to be a freaking nightmare when oil runs out. And the internet says in 50 years.
We might want to start learning how to milk cows again, and plant crops. It's gonna be bad
Posted on 10/21/25 at 9:02 pm to ragincajun03
I almost forgot about that blatant stunt by Biden that put our country at risk, all to try and put a band aid on a different wound he caused.
He was the gift that kept giving us shite for four straight years. It is actually scary to think about what this country would look like if Harris took over after him. I seriously don't know if we'd have been able to come back from that.
He was the gift that kept giving us shite for four straight years. It is actually scary to think about what this country would look like if Harris took over after him. I seriously don't know if we'd have been able to come back from that.
Posted on 10/21/25 at 9:05 pm to fightin tigers
quote:
System of exchanges. Basically companies can pull from the reserves during disruptions and when they return the oil they pay interest with oil instead if cash.
How do they pull from an empty reserve?
Posted on 10/21/25 at 9:10 pm to TDTOM
quote:
How do they pull from an empty reserve?
Nice strawman you're building there. The reserves are not even close to being empty. There is at least 90 days of supply (useable inventory) where we are currently at, assuming no domestic oil production is possible.
This post was edited on 10/21/25 at 9:20 pm
Posted on 10/21/25 at 9:48 pm to ragincajun03
I'm awaiting an opinion until super-moderate joshsjournal chimes in
He must be busy writing a new chapter in his Arc de Trump journal
He must be busy writing a new chapter in his Arc de Trump journal
This post was edited on 10/21/25 at 9:51 pm
Posted on 10/22/25 at 5:12 am to TDTOM
quote:
How do they pull from an empty reserve?
It’s empty?
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