Skip to content
  • Categories
  • Recent
  • Tags
  • Popular
  • Users
  • Groups
Skins
  • Light
  • Cerulean
  • Cosmo
  • Flatly
  • Journal
  • Litera
  • Lumen
  • Lux
  • Materia
  • Minty
  • Morph
  • Pulse
  • Sandstone
  • Simplex
  • Sketchy
  • Spacelab
  • United
  • Yeti
  • Zephyr
  • Dark
  • Cyborg
  • Darkly
  • Quartz
  • Slate
  • Solar
  • Superhero
  • Vapor

  • Default (No Skin)
  • No Skin
Collapse

The New Coffee Room

  1. TNCR
  2. General Discussion
  3. Tapping the Strategic Reserve

Tapping the Strategic Reserve

Scheduled Pinned Locked Moved General Discussion
16 Posts 7 Posters 228 Views
  • Oldest to Newest
  • Newest to Oldest
  • Most Votes
Reply
  • Reply as topic
Log in to reply
This topic has been deleted. Only users with topic management privileges can see it.
  • JollyJ Offline
    JollyJ Offline
    Jolly
    wrote on last edited by
    #4

    Don't remember if it has any corn syrup in it or not (I don't think it does), but this company in West Monroe makes a very good syrup:

    alt text

    To be honest, I'd rather have locally produced, but it's getting harder and harder to find people who make home-batch (5-10 gallons) syrup.

    “Cry havoc and let slip the DOGE of war!”

    Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

    1 Reply Last reply
    • LuFins DadL Offline
      LuFins DadL Offline
      LuFins Dad
      wrote on last edited by
      #5

      Tapping the Strategic Reserve

      Did @Jon’s sister change her name? That’s the only thing President Uncle Joe’s ever tapped…

      The Brad

      1 Reply Last reply
      • JollyJ Offline
        JollyJ Offline
        Jolly
        wrote on last edited by
        #6

        I don't think she was alive back then...

        “Cry havoc and let slip the DOGE of war!”

        Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

        1 Reply Last reply
        • George KG Offline
          George KG Offline
          George K
          wrote on last edited by
          #7

          https://www.foxbusiness.com/politics/biden-admin-cancels-plan-to-refill-emergency-oil-reserve-amid-high-prices.amp

          The Biden administration has abruptly canceled a plan announced last month to purchase up to three million barrels of oil as part of its effort to refill the Strategic Petroleum Reserve (SPR).

          The SPR — which Congress established for emergency situations — currently contains 363.6 million barrels of oil, a 43% decline from January 2021 when President Biden took office, federal data shows. Biden began depleting the reserve in late 2021 to combat high fuel prices.

          The Department of Energy said that while it remains committed to refilling the SPR, it would pull back its most recent solicitation for oil amid increasing prices. On March 14, DOE's Office of Petroleum Reserves announced the solicitation for three million barrels of oil to be delivered in August and September to its Bayou Choctaw site in Louisiana, one of four major SPR storage facilities.

          "Keeping the taxpayer’s interest at the forefront, we will not award for the Bayou Choctaw SPR site in August and September, and will continue to solicit available capacity as market conditions allow," a DOE spokesperson said. "As always, we monitor market dynamics to remain nimble and innovative in our successful replenishment approach to protect this critical national security asset."

          The spokesperson added that the administration has already taken steps to replenish the emergency reserve, the largest of its kind in the world, and deliver "a good deal for American taxpayers."

          image.jpeg

          My understanding is that the SPR was "released" in an attempt to lower the price of gasoline. Right?

          "Now look here, you Baltic gas passer... " - Mik, 6/14/08

          The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

          1 Reply Last reply
          • RenaudaR Offline
            RenaudaR Offline
            Renauda
            wrote on last edited by
            #8

            Probably a prudent decision.

            https://worldoil.com/news/2024/4/3/biden-administration-cancels-3-mmbbl-strategic-oil-reserve-refill-as-oil-breaks-over-85/

            Elbows up!

            George KG 1 Reply Last reply
            • RenaudaR Renauda

              Probably a prudent decision.

              https://worldoil.com/news/2024/4/3/biden-administration-cancels-3-mmbbl-strategic-oil-reserve-refill-as-oil-breaks-over-85/

              George KG Offline
              George KG Offline
              George K
              wrote on last edited by
              #9

              @Renauda said in Tapping the Strategic Reserve:

              Probably a prudent decision.

              https://worldoil.com/news/2024/4/3/biden-administration-cancels-3-mmbbl-strategic-oil-reserve-refill-as-oil-breaks-over-85/

              What was the price of oil when they decided to tap the SPR?

              "Now look here, you Baltic gas passer... " - Mik, 6/14/08

              The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

              1 Reply Last reply
              • RenaudaR Offline
                RenaudaR Offline
                Renauda
                wrote on last edited by Renauda
                #10

                Average price in 2022 was $95 / bbl.

                The announcement Thursday brings the total amount of oil the U.S. has purchased for the inventories since last year to 32.3 MMbbl. The Energy Department has paid an average price of under $77 per bbl, below the average price of $95 it sold for in 2022, the agency said in a statement.

                The Energy Department “will continue to evaluate market conditions and competitive bids to ensure our SPR continues to meet its mission when called upon,” the agency said.

                The Energy Department said it spent nearly $226 million on the purchase — that would imply an average price of about $81 per bbl, in excess of a previously stated target of purchasing oil at $79 or lower to refill the reserve.

                Source: https://worldoil.com/news/2024/3/28/u-s-purchases-2-8-mmbbl-to-refill-depleted-strategic-petroleum-reserve/

                Slick media likes to make this into a big deal implying national security issues. Well, to be blunt, it’s not.

                https://www.rigzone.com/news/its_very_difficult_for_usa_to_reload_strategic_petroleum_reserve-24-oct-2023-174453-article/

                Elbows up!

                1 Reply Last reply
                • MikM Offline
                  MikM Offline
                  Mik
                  wrote on last edited by
                  #11

                  We can't have some of the world's largest deposits and be totally dependent on the SPR both.

                  “I am fond of pigs. Dogs look up to us. Cats look down on us. Pigs treat us as equals.” ~Winston S. Churchill

                  1 Reply Last reply
                  • JollyJ Offline
                    JollyJ Offline
                    Jolly
                    wrote on last edited by
                    #12

                    Mr. Biden is producing oil like an Oklahoma wildcatter.

                    I know that's the truth, because somebody showed me some statistics here, sometime or other.

                    “Cry havoc and let slip the DOGE of war!”

                    Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

                    RenaudaR 1 Reply Last reply
                    • JollyJ Jolly

                      Mr. Biden is producing oil like an Oklahoma wildcatter.

                      I know that's the truth, because somebody showed me some statistics here, sometime or other.

                      RenaudaR Offline
                      RenaudaR Offline
                      Renauda
                      wrote on last edited by Renauda
                      #13

                      @Jolly

                      Yes, Jon and TG about 23 days ago:

                      https://nodebb.the-new-coffee-room.club/topic/26067/bidenomics-at-work/176?_=1712187184125

                      February 2024 stats:

                      https://www.worldoil.com/magazine/2024/february-2024/2024-forecast-and-review/u-s-oil-and-natural-gas-production-hits-record-highs/

                      Elbows up!

                      1 Reply Last reply
                      • George KG Offline
                        George KG Offline
                        George K
                        wrote on last edited by
                        #14

                        "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                        The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                        1 Reply Last reply
                        • HoraceH Online
                          HoraceH Online
                          Horace
                          wrote on last edited by
                          #15

                          Maybe he will also releases barrels from the reserve just prior to election day.

                          I look forward to the day when sitting presidents seeking a second term, distribute checks on November 1st. Because October probably had something bad happen in it, I just bet something bad happened in October. I think the right thing to do is to distribute checks.

                          Education is extremely important.

                          1 Reply Last reply
                          • taiwan_girlT Online
                            taiwan_girlT Online
                            taiwan_girl
                            wrote on last edited by
                            #16

                            https://nodebb.the-new-coffee-room.club/topic/31454/strategic-reserve-again/5?_=1716972192066

                            Had to release the 1MM barrels. That section of the strategic reserve is closing.

                            1 Reply Last reply
                            Reply
                            • Reply as topic
                            Log in to reply
                            • Oldest to Newest
                            • Newest to Oldest
                            • Most Votes


                            • Login

                            • Don't have an account? Register

                            • Login or register to search.
                            • First post
                              Last post
                            0
                            • Categories
                            • Recent
                            • Tags
                            • Popular
                            • Users
                            • Groups