Post #77758 by SuisseBear on the US Policy board

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You kids haven't seen anything yet.

The oil market is coming for Donald Trump: US Strategic Petroleum Reserve has now fallen below 300 million barrels

The International Energy Agency's May report shows global oil inventories fell by 250 million barrels across March and April, with the Q2 drawdown running at 8.5 million barrels a day. The U.S. just released another 53.3 million barrels from the Strategic Petroleum Reserve to Trafigura, Marathon, and ExxonMobil — the second major release this spring, leaving the reserve below 300 million barrels.

https://www.msn.com/en-us/money/markets/the-oil-ma...

According to the net sifter, the US SPR contained about 415Mbbls in January, so Lord Trump has smoked a quarter of it, in only two months. Other nations coming to the US for oil, as Trump the Petro King brags. While Burgum proclaims keeping USian oil for USians is a bad thing, because it would crimp big oil's profits.

oh, lordy

Steve

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While Burgum proclaims keeping USian oil for USians is a bad thing, because it would crimp big oil's profits.

He did say it more eloquently (but only slightly so). Will MAGA notice?

“The market for energy is much larger in the rest of the world than it is here, and it’s a high fixed-cost business,” he added. “The idea that somehow we’re not going to participate and sell in a global market, it’s just not economically sound.”

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