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> Drillers, meanwhile, say they are balking at the government’s offer to take their oil because it is hard for them to move it from inland fields to the SPR del
by rglover 4y ago
> Drillers, meanwhile, say they are balking at the government’s offer to take their oil because it is hard for them to move it from inland fields to the SPR delivery sites on the Gulf Coast, and because they worry placing it in the reserve could compromise the oil’s quality.
See: https://www.reuters.com/article/us-global-oil-usa-reserves/drowning-in-crude-u-s-drillers-say-trump-strategic-reserve-plan-is-no-lifeline-idUSKCN2251QU https://www.reuters.com/article/us-global-oil-usa-reserves/d...
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Oil transport barges were making bank around that time (I made a decent rip selling calls on co's in that industry) selling tank space on ships at a premium to handle the overflow.