4 ms·
Let's ask the government agency responsible for maintaining the strategic petroleum reserve: https://www.energy.gov/fecm/strategic-petroleum-reserve-9 https://w
by groby_b 5y ago
Let's ask the government agency responsible for maintaining the strategic petroleum reserve: https://www.energy.gov/fecm/strategic-petroleum-reserve-9 https://www.energy.gov/fecm/strategic-petroleum-reserve-9
"This is equivalent to approximately 1,069 days of supply of total U.S. petroleum net imports."
Sounds like it might affect market prices if the government decides to use it to lower the price.
As for accurate media reporting... has that ever happened? On anything?
- nradov 5y agoComparing the SPR size to imports is meaningless. The US obtains most of our crude oil from domestic wells.
- groby_b 5y agoNet imports: 7.8 MMb/d Net consumption: 18.1 MMb/d So, we get slightly more than half from domestic wells. (We could fully cover it if we choose not to export) But either way, that means the SPR still covers ~500 days of consumption. Still sizable enough to impact the market significantly, I'd say