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yes, if only the storage was free, and the commodity easy to transport to areas where demand was.
by chii 4y ago
yes, if only the storage was free, and the commodity easy to transport to areas where demand was.
- koolba 4y ago> yes, if only the storage was free, and the commodity easy to transport to areas where demand was. Trump tried to do exactly that in the original 2020 COVID stimulus bill: https://www.cnbc.com/amp/2020/03/26/us-suspends-plans-to-buy-oil-after-funding-is-left-out-of-2-trillion-stimulus-package.html https://www.cnbc.com/amp/2020/03/26/us-suspends-plans-to-buy... Original plan was to buy $3B worth of oil at about $24/barrel to fill the strategic petroleum reserves. But the Democrats blocked it in the Senate and demanded it’s removal from the bill.
- MafellUser 4y ago125 million barrels that's like 6 days worth of US daily consumption. It's crazy how much oil the US consumes on a daily basis.