17 days
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I asked before in other threads. What, realistically, is the purpose of the strategic reserve?
While the graph says that there is a 17 day supply, I would think that getting oil from the reserve is not a simple task. I bet that the amount that can be taken from the reserve every day, shipped to tankage/refineries/petrochemical factories, regardless of how full it is, would be much much much less than US daily requirement.
Plus, the domestic production of oil is pretty great, so saying that there is X days supply seems misleading.
But, it gets back to my original question. I really dont see the purpose for it.
The Saudi Arabia economy is much much different from 1970 when they cut off oil, so I think they realize they have to keep the oil flowing. And, I dont see there being an event that would be long lasting based on current events.
And If there is a such a major event, having 10 more days supply of oil won't really matter. Just my thoughts.
@taiwan_girl said in 17 days:
I asked before in other threads. What, realistically, is the purpose of the strategic reserve?
While the graph says that there is a 17 day supply, I would think that getting oil from the reserve is not a simple task. I bet that the amount that can be taken from the reserve every day, shipped to tankage/refineries/petrochemical factories, regardless of how full it is, would be much much much less than US daily requirement.
Plus, the domestic production of oil is pretty great, so saying that there is X days supply seems misleading.
But, it gets back to my original question. I really dont see the purpose for it.
The Saudi Arabia economy is much much different from 1970 when they cut off oil, so I think they realize they have to keep the oil flowing. And, I dont see there being an event that would be long lasting based on current events.
And If there is a such a major event, having 10 more days supply of oil won't really matter. Just my thoughts.
It will if means of production are halted. That's the reason for it and it's a prudent one. Even if cars go all electric petroleum products are used in every facet of our economy.
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@taiwan_girl said in 17 days:
I asked before in other threads. What, realistically, is the purpose of the strategic reserve?
While the graph says that there is a 17 day supply, I would think that getting oil from the reserve is not a simple task. I bet that the amount that can be taken from the reserve every day, shipped to tankage/refineries/petrochemical factories, regardless of how full it is, would be much much much less than US daily requirement.
Plus, the domestic production of oil is pretty great, so saying that there is X days supply seems misleading.
But, it gets back to my original question. I really dont see the purpose for it.
The Saudi Arabia economy is much much different from 1970 when they cut off oil, so I think they realize they have to keep the oil flowing. And, I dont see there being an event that would be long lasting based on current events.
And If there is a such a major event, having 10 more days supply of oil won't really matter. Just my thoughts.
It will if means of production are halted. That's the reason for it and it's a prudent one. Even if cars go all electric petroleum products are used in every facet of our economy.
It will if means of production are halted. That's the reason for it and it's a prudent one. Even if cars go all electric petroleum products are used in every facet of our economy.
I understand that, but to me, I still don't understand the purpose. For example, The US is currently an oil exporter.
But even so, what type of event would you think would justify the strategic oil reserve? Oil embargo again? Mid East war? Even during the Kuwait/Iraq war, there really was not much a change in overall world production.
To me, the available amount in the reserve is really just a "drop in the bucket" (pun intended) to the overall use of oil.
I don't think we should bring it down to zero, but it does to seem concerning to have about 300MM barrel vs. 600MM barrel.
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Obviously, not a concern for the president before President Biden. LOL
According to data from the Energy Information Administration (EIA), when Trump took office in January 2017, the SPR contained 695 million barrels. When he left office four years later, the SPR contained 638 million barrels. So, the level of the SPR actually declined while President Trump was in office.
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LOL. Much less right now. But I was just pointing out that previous presidents weren't too concerned about the SOR.
(And I agree with them. The US is a currently a net exporter for the first time since before 1950. (Thank you Prescient Biden!!) I just believe that if there is a event so so catastrophic, having an extra day or 10 of oil reserves is not going to make a difference)
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LOL. Much less right now. But I was just pointing out that previous presidents weren't too concerned about the SOR.
(And I agree with them. The US is a currently a net exporter for the first time since before 1950. (Thank you Prescient Biden!!) I just believe that if there is a event so so catastrophic, having an extra day or 10 of oil reserves is not going to make a difference)
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LOL. Much less right now. But I was just pointing out that previous presidents weren't too concerned about the SOR.
(And I agree with them. The US is a currently a net exporter for the first time since before 1950. (Thank you Prescient Biden!!) I just believe that if there is a event so so catastrophic, having an extra day or 10 of oil reserves is not going to make a difference)
@taiwan_girl said in 17 days:
The US is a currently a net exporter for the first time since before 1950. (Thank you Prescient Biden!!)
You misspelled "Trump."
https://www.eia.gov/energyexplained/oil-and-petroleum-products/imports-and-exports.php
The United States became a total petroleum net exporter in 2020
In 2020, the United States became a net exporter of petroleum for the first time since at least 1949.1 In 2022, total petroleum exports were about 9.52 million barrels per day (b/d) and total petroleum imports were about 8.33 million b/d, making the United States an annual net total petroleum exporter for the third year in a row. Total petroleum net exports were about 1.19 million b/d in 2022. Also in 2022, the United States produced2 about 20.08 million b/d of petroleum and consumed3 about 20.01 million b/d. Although U.S. annual total petroleum exports were greater than total petroleum imports in 2020, 2021, and 2022, the United States still imported some crude oil and petroleum products from other countries to help to supply domestic demand for petroleum and to supply international markets.
It's complicated.
The United States remained a net crude oil importer in 2022, importing about 6.28 million b/d of crude oil and exporting about 3.58 million b/d. Some of the crude oil that the U.S. imports is refined by U.S. refineries into petroleum products—such as gasoline, heating oil, diesel fuel, and jet fuel—that the U.S. later exports. Also, some of imported petroleum may be stored and later exported.
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I’m with you TG.
This is a coffee and donut shop gossip issue. Nothing more.
Next the topic will move on to whether Soros György is behind it all.
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The man who helped ruin San Francisco. I could go on, but what's the point? Until a Soros-backed DA turns your little part of the world into a revolving door criminal justice system, you don't care.
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The man who helped ruin San Francisco. I could go on, but what's the point? Until a Soros-backed DA turns your little part of the world into a revolving door criminal justice system, you don't care.
The man who helped ruin San Francisco. I could go on, but what's the point? Until a Soros-backed DA turns your little part of the world into a revolving door criminal justice system, you don't care.
You pretty much blame him for everything, though. TBH, I think it's a bit unhealthy.
Foreign born billionaires with an unhealthily high level of political influence? Conservatives would never stoop to that sort of thing.
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I think he wears blame where blame is due.
Compare him against the Koch brothers and get back to me.
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I think he wears blame where blame is due.
Compare him against the Koch brothers and get back to me.
