Trump fills, Biden empties
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Problem is, the strategic reserve is just that. It's not enough to actually impact the market in a meaningful way.
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Problem is, the strategic reserve is just that. It's not enough to actually impact the market in a meaningful way.
@Jolly said in Trump fills, Biden empties:
Problem is, the strategic reserve is just that. It's not enough to actually impact the market in a meaningful way.
I did not know such a thing existed.
What is it supposed to be for?
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That's a good question. What do you think?
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I did not even know this existed, and I am not sure it is necessary.
Quick facts:
Amount in storage = 714 MM barrels
US Day usage = 21 MM barrels
(Storage holds about a month supply)
Highest capacity ever = 727 MM barrels at end of 2009Since it is there, and the US has "cut off" 4% of total by stopping imports from Russia, this event seems a reasonable time to release oil from the reserve. Assuming they release 1 MM or so daily, that would be 2 years of reserve supply.
(Yes, I realize that the US does not only import Russia crude oil but other types of oil also. And the oil in the reserve may be a different component, etc. But, for easy calcuations, I use the above.)
So, for summary - Yes, the war in Ukraine and decrease in supply from Russia is a good reason to make up the difference with oil from the reserve.
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How much gasoline, diesel fuel, jet fuel and ship fuel oil does the U.S. military use?
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@Jolly said in Trump fills, Biden empties:
How much gasoline, diesel fuel, jet fuel and ship fuel oil does the U.S. military use?
DoD used 100MM barrels a year as of about a decade ago. Biggest user of fossil fuels in the history of mankind.
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I did not even know this existed, and I am not sure it is necessary.
Quick facts:
Amount in storage = 714 MM barrels
US Day usage = 21 MM barrels
(Storage holds about a month supply)
Highest capacity ever = 727 MM barrels at end of 2009Since it is there, and the US has "cut off" 4% of total by stopping imports from Russia, this event seems a reasonable time to release oil from the reserve. Assuming they release 1 MM or so daily, that would be 2 years of reserve supply.
(Yes, I realize that the US does not only import Russia crude oil but other types of oil also. And the oil in the reserve may be a different component, etc. But, for easy calcuations, I use the above.)
So, for summary - Yes, the war in Ukraine and decrease in supply from Russia is a good reason to make up the difference with oil from the reserve.
@taiwan_girl said in Trump fills, Biden empties:
Highest capacity ever = 727 MM barrels at end of 2009
Trump fills a little, Obama fills a lot.
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@taiwan_girl said in Trump fills, Biden empties:
Okay, but when should it be used?
What would be considered a "strategic" time?
It was intended as a release valve for shortages caused by embargoes or other National-security related emergencies, IOW situations like this.
The controversial uses have been during relative peace with gas prices just high. Presidents of both parties have used it for that, with the support of their own party and complaints from the other.
