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We sent over 5 million barrels of oil from strategic reserve to Europe and Asia last month

Posted on 7/5/22 at 2:16 pm
Posted by OMLandshark
Member since Apr 2009
108098 posts
Posted on 7/5/22 at 2:16 pm
Reuters

quote:

HOUSTON, July 5 (Reuters) - More than 5 million barrels of oil that were part of a historic U.S. emergency oil reserves release aimed at lowering domestic fuel prices were exported to Europe and Asia last month, according to data and sources, even as U.S. gasoline and diesel prices touched record highs.

The export of crude and fuel is blunting the impact of the moves by U.S. President Joe Biden designed to lower record pump prices. Biden on Saturday renewed a call for gasoline suppliers to cut their prices, drawing criticism from Amazon founder Jeff Bezos. read more

About 1 million barrels per day is being released from the Strategic Petroleum Reserve (SPR) through October. The flow is draining the SPR, which last month fell to the lowest since 1986. U.S. crude futures are above $105 per barrel and gasoline and diesel prices above $5 a gallon in one-fifth of the nation. U.S. officials have said oil prices could be higher if the SPR had not been tapped.


Un-fricking-Believable. Last I checked “Reserve” doesn’t mean shipping shite to Europe and Asia while Americans suffer. Just make a quick buck to the detriment of Americans. It’s hard to see that the destruction of our country isn’t intentional at this point.
Posted by LNCHBOX
70448
Member since Jun 2009
84042 posts
Posted on 7/5/22 at 2:16 pm to
quote:

Last I checked “Reserve” doesn’t mean shipping shite to Europe and Asia while Americans suffer.


Because you don't speak brandonese.
Posted by Vamos Brandonos
Member since Mar 2022
1021 posts
Posted on 7/5/22 at 2:17 pm to
Price we all must pay for nice tweets.
Posted by DMagic
#ChowderPosse
Member since Aug 2010
46375 posts
Posted on 7/5/22 at 2:18 pm to
Malarkey
Posted by WildTchoupitoulas
Member since Jan 2010
44046 posts
Posted on 7/5/22 at 2:18 pm to
quote:

Just make a quick buck to the detriment of Americans.

Wait, who, exactly, is making the buck?
Posted by OMLandshark
Member since Apr 2009
108098 posts
Posted on 7/5/22 at 2:19 pm to
quote:

Wait, who, exactly, is making the buck?


The Feds. We bought it, and don’t get to keep any of it.
Posted by boxcarbarney
Above all things, be a man
Member since Jul 2007
22699 posts
Posted on 7/5/22 at 2:20 pm to
Look Jack, here's the deal: you can have low gas prices and a full oil reserve for Americans, or you can have a country with a corrupt government free of Russian influence so our elites can continue to launder their money. You can't have both.
Posted by VADawg
Wherever
Member since Nov 2011
44668 posts
Posted on 7/5/22 at 2:21 pm to
quote:

Last I checked “Reserve” doesn’t mean shipping shite to Europe and Asia while Americans suffer.


That's because you aren't a communist/Marxist.
Posted by fightin tigers
Downtown Prairieville
Member since Mar 2008
73674 posts
Posted on 7/5/22 at 2:23 pm to
At one point the OT cheered opening up crude oil exportation.
Posted by fightin tigers
Downtown Prairieville
Member since Mar 2008
73674 posts
Posted on 7/5/22 at 2:24 pm to
quote:

The Feds. We bought it, and don’t get to keep any of it.


The Feds sold it off. To lower oil prices.
This post was edited on 7/5/22 at 2:24 pm
Posted by wutangfinancial
Treasure Valley
Member since Sep 2015
11066 posts
Posted on 7/5/22 at 2:24 pm to
Sounds very strategic
Posted by Caraway Rye
Member since Oct 2021
5108 posts
Posted on 7/5/22 at 2:25 pm to
quote:

U.S. officials have said oil prices could be higher if the SPR had not been tapped.


Which is it?

Biden has no impact on oil prices or he does.

Why are Democrats 100% of the time lying mentally ill fricks
Posted by WildTchoupitoulas
Member since Jan 2010
44046 posts
Posted on 7/5/22 at 2:29 pm to
quote:

The Feds.

So the feds are making a buck to the detriment of Americans?

That doesn't even make sense.

In a self-ruled nation such as ours, we are the fed.
Posted by iAmBatman
The Batcave
Member since Mar 2011
12382 posts
Posted on 7/5/22 at 2:31 pm to
quote:

We sent over 5 million barrels of oil from strategic reserve to Europe and Asia last month



do you know how much oil we have in our strategic reserves?
Posted by Klark Kent
Houston via BR
Member since Jan 2008
66673 posts
Posted on 7/5/22 at 2:31 pm to
Look here Fat, we had to do this because:

Putin.
The Pandemic.
it's a Global Problem.
the greedy Big Oil Companies.
the greedy gas station companies.

Posted by TexasTiger1185
New Orleans
Member since Sep 2011
13070 posts
Posted on 7/5/22 at 2:33 pm to
I’m not sure this means what you think it means.
Posted by upgrayedd
Lifting at Tobin's house
Member since Mar 2013
134837 posts
Posted on 7/5/22 at 2:34 pm to
quote:

In a self-ruled nation such as ours, we are the fed.


There's no way you're serious about this statement
Posted by upgrayedd
Lifting at Tobin's house
Member since Mar 2013
134837 posts
Posted on 7/5/22 at 2:35 pm to
quote:

do you know how much oil we have in our strategic reserves?


Why are we sending even a gallon of our strategic reserve to anyone?
Posted by HogBalls
Member since Nov 2014
8587 posts
Posted on 7/5/22 at 2:37 pm to
Of course. The country is being ran by terrorists
Posted by fightin tigers
Downtown Prairieville
Member since Mar 2008
73674 posts
Posted on 7/5/22 at 2:38 pm to
quote:

Why are we sending even a gallon of our strategic reserve to anyone?


Because the shale industry wanted to be a world player. Lobbied Obama to make it happen and he allowed it.

Then Shale and Saudi went to war and gave us low prices.

(There are many other factors at play in all of this as well)

You could maybe dictate where strategic reserves went, but it wouldn't really change anything. Traders would just shift oil from one hand to the other.
This post was edited on 7/5/22 at 2:41 pm
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