No. of Recommendations: 3
At it's peak, the SPR held some 726M barrels, in 2010. (remember the flack the Bush junta got for buying oil at the price peak in 08, to dump into the SPR, when everyone was screaming shortage?) Last January, before Trump started his made up war, the reserve stood at 411M barrels.
Trump isn't stupid. He sounds stupid when he talks about things he really doesn't care about. He has offered that MAGA doesn't care about his made up war. MAGA only cars about the price of gas. So, he has been drawing down the SPR to try to suppress the price of gas. (his recent move to import cheap beef is the same sort of MAGA mollifying scheme)
The SPR is now down to 300M barrels. Now, this person shows up on bubblevision, saying that the SPR can't be drawn down farther, or the caverns the oil is stored in would be "damaged". Now, he's telling me that we taxpayers paid to dump oil in these storage scheme, and only about half of it can be recovered? Or, is he an oil industry mouthpiece, trying to shut down the SPR, to tighten supplies and raise prices for US oil companies' benefit?
Depleted strategic oil reserve nears level that raises concerns about damage to caverns, operations
The caverns that hold the U.S. strategic oil reserve could get damaged by the rapid release of stockpiles in response to the Iran war, experts warned this week as inventories hit a four-decade low.
Damage to the caverns would make it more difficult to respond to future energy emergencies, the experts said. The oil in the Strategic Petroleum Reserve, or SPR, is stored at 60 salt caverns thousands of feet underground at four major sites along the Gulf Coast in Louisiana and Texas.cnbc.com - Strategic petroleum reserve spr oil iran war cavernsI take it as a given that everyone on bubblevision is talking his book, but this narrative could provide an excuse for others in the pay of the oil industry, to go along. That would be a problem for Trump the Most Perfect, before November.
Steve