The #Trump administration will release 172 million barrels from the Strategic Petroleum Reserve to stabilize the oil market, according to Politico. Such a move would drain the SPR to 241 million barrels, the lowest level in 40 years. Meanwhile,...
... if we want to talk about degradation, we can look at the American Strategic Petroleum Reserve. As we can see, replenishing only what was spent in 2022 would take at least a decade, making small recurring purchases so that it does not become a huge sudden expense. After 2022, in fact, it was barely being refilled despite incredibly cheap global oil prices. Quite simply, the US today has enormous debt, interest payments, and does not have the free money it had years ago to buy this. Any lar...
... if we want to talk about degradation, we can look at the American Strategic Petroleum Reserve. As we can see, replenishing only what was spent in 2022 would take at least a decade, making small recurring purchases so that it does not become a huge sudden expense. After 2022, in fact, it was barely being refilled despite incredibly cheap global oil prices. Quite simply, the US today has enormous debt, interest payments, and does not have the free money it had years ago to buy this. Any lar...