Why the U.S. Stores About 400 Million Oil Barrels in Caves | WSJ

[@exMuteKid]

shouldn't that oil be kept for a worst case scenario? I hope there's another reserve kept just for military use in case there's a massive unimaginable conflict or something

[@jamesmcd71]

Yes that's the entire purpose for it. But the need for Democrats to keep power over you is considered a emergency to the democrats.

[@paulkurilecz4209]

But why do that when votes are at stake? 🙂

[@ChristianVBlue3]

Our emergency reserves should only be used here domestically in the US, not outside. Either for civilian use or military

[@chinguunerdenebadrakh7022]

It was literally created for a scenario like this though, in the 70s when Saudi led blockade on Western countries crippled oil supplies to the West. It wasn't created for war, but when supplies to the economy becomes constricted. If there a war, US military would be the last membrane of the US to be lacking oil, US'd just essentially nationalize oil industry and allocate resources accordingly. Again, I emphasize SPR is not for WW3, but for oil shocks.

[@timmilder8313]

we produce 12 million a day, and the reserve still has enough in it for a 1000 day conflict. We're fine. Signed, A petroleum geologist

[@concernednewfie]

Its good to have 3 weeks supply in reserves, you know, for those multi month or year emergencies.

[@hamzamahmood9565]

Unless you stop 100% of oil production and oil import, 3 full weeks of supply is more than enough for any type of crisis

[@pkal244]

@Ro Herms right? Imagine storing 3 years worth of oil reserves, or 3 years worth of anything lol

[@happyblt624]

more worrying issues is our overseas EXTREMELY vulnerable supply chains pandemic was bad now think of war

[@concernednewfie]

@Ro Herms Bright side is Canada is by far your largest supplier, a safe option even if the middle east had a melt down.

[@SpamSucker]

In WWII, oil (and many other critical supplies) were rationed or unavailable to the general public. This reserve was meant for defense, not “normal use”, and certainly not for vote pandering.

[@out_of_the_BOX]

Cave: * exists * United States: *its oilin time*

[@michaelvick2872]

Wow what a funny and original joke.

[@Skymaster.47]

@@alkdjfhgks1919 its not that the US is the only one that likes oil, it is the only one bombing and invading for oil.

[@theodorbutters141]

I remember the moment the United States saw the oil caves and oiled all over them... Truly one of the moments of our time.

[@allu717]

Why do they release it into the global market? Why not restrict it to the US only, wouldn't that lower the prices more?

[@bham3088]

The world uses 90m barrels a day. The goal with these releases is to lower local fuel prices by lowering the price for refiners, not ship it around the world and try and impact the world's prices for a few days. So you wouldn't release it wider, no.

[@maYTeus]

if the demand in US drops as a global consumer it means demand in the world drops regardless

[@Richardlizhu]

@@bham3088 I think the other dude was asking why do they release it into the global market instead of why don't they

[@warlockgod66]

No oil prices are set on the global market so if we only release the oil and restricted to the US only it won't change the price of the oil market and the US oil companies would just sell their oil overseas because the prices are higher

[@jsheav]

The US needs to be a major exporter of oil to ensure that the USD is the world Petro dollar and the world reserve currency so we can print money with impunity.

[@jordanabendroth6458]

Now I'm all for electricification of our transport network, but in the short term, this doesn't deal with the issue the US oil refining capacity has essentially been the same since the 1970s

[@SkysTrains]

i personally think that if you dont need to drive then dont. a lot more cities are building better transit systems like trains, electrified busses, and other.

[@mikelembke5121]

The government because of environmental policy,would not let refineries be built,the reserves are in case of war, Biden and Democrates are idiots, their green deal only makes democrates rich , doesn't work at this point for the country,to soon to quick, the democrates put the cart before the horse,EV vehicles are not economicaly feasible or the environment safe at this time

[@galenhaugh3158]

@@SkysTrains True, but the government has no business shutting down our primary fuel sources because they've been brainwashed into believing CO2 somehow controls the climate, because it doesn't. Water is a more dominant greenhouse gas than CO2!

[@michaelgranger7113]

It'll never happen. Trucks, freight trains, and huge transport ships will always have to run on some form of fossil fuel to fulfill their requirements of long haul transport.

[@jordanabendroth6458]

@@michaelgranger7113 says who? Electrification of trains especially is very doable and fairly common in Europe, and I'm not talking about batteries, I'm talking about grid powered trains. Electric trucks are harder but are doable. Now I don't really have a good answer for large ships other than biodiesel which has it's own issues such as using land that we could be using for growing food for growing fuel.

[@2006Mercury]

I think we need to focus on making more efficient gasoline engines instead of focusing on electricity.

[@dusty7264]

I think declaring war on oil on the first day in office is a big part of the problem. Just last week he said “No more drilling “

[@requen]

Why do we need to drill? We've had so much oil in the country that we've been exporting it ever since 2010. Maybe it lies more on the refineries, which has essentially been the same since the 1970s...

[@fabfrenchies1974]

Refineries are closing, in part by supply but mostly too much regulation. Petro is among the most regulated industries.

[@Make-Asylums-Great-Again]

@@requenIf you lack the understanding to grasp the answer, then there is no point in questioning why.

[@mattcrosby2310]

I'm impressed they were able to discuss a key part of the Petro-Dollar System without ever mentioning the Petro-Dollar System. Where would our government be without a nimble mainstream media?

[@LTC366]

Petro-dollar was the beginning of the so called 'war on terror'. What saudi did in the 70's was a shocking reminder to the west at how they desperately depend on opec nations. Our government would be held for treason

[@WeekzGod]

This is borrowing against future emergencies in a dangerous way. For political reasons instead of genuine emergency. If they allowed more oil pipelines and more refineries to operate we'd see prices go down. Additionally, we need investiture in alternate sources, nuclear in particular.

[@rudiruttger]

no kidding

[@seanf5634]

There was no "emergency", except congressman losing their jobs in November, hence the oil release to bring down prices and get more votes.

[@NadeemAhmed-nv2br]

they allowed it but oil companies wont invest fast enough

[@gnomechump-stiny7128]

Oh well. Thats what happens when people think the president has tons of control over prices.

[@vodoo3dx243]

Oil company just want the money they loses in 2020 when the oil market crash. However, you can check out US production in 2019 vs 2020,21,22. Anyway, some how oil production countries oil out put is lower that 2019 and Ukraine war start. Lol

[@MGN01]

This type of reporting showing crude going directly to gas prices is when you don’t consult Chemical Engineers like myself that have worked in refining. Our refining capacity has essentially been stagnant for many years due to the EPA and other local regulatory bodies constantly adding more regulations each year. Releasing crude is essentially a politically move. Gulf coast refineries don’t rely on Russian crude for gasoline production. In the short term, gasoline prices are weighed by perceived risks that nay not be real like the effect of Russian invasion on Ukraine. We get some of our crude from west Africa or Latin America or Mexico or we use the new shale crude. We’re not dependent on Urals or other Russian crude here.

[@Gwydion_Wolf]

It 'can' hold that much. I highly doubt it actually contains that much currently. Wasn't it reported a while back somewhere that only about 270 million was currently there?

[@labloke5020]

I do not see any problem with this - buy low and sell high = profits. Also, it helps to use SPR constantly since in a real emergency, you do not want to be situation of non-working SPR. It would be nice if US government starts some kind of a hedge fund to pump money into the exploration industry since easy money = more oil. Like before.....

[@thedopplereffect00]

Great for insider trading by Congress men

[@dannypope1860]

The emergency oil supply is for things like domestic war, natural disasters, or other major catastrophes. The US government is not a business. It is not their job to buy low and sell high for profits. And it is disgustingly corrupt that a president would use our strategic war supply for his own political aspersions. Especially when both Russia and China are pushing the world closer and closer to WW3. If Biden wanted to lower oil prices, he shouldn’t have banned oil production on federal land, and he shouldn’t have cancelled the Keystone XL pipeline. A temporary drop in oil prices may help Biden’s political career, but it does nothing for long term oil production, and it weakens our national defense.

[@YourDadsBoyfriend]

Lol except for the little fact that the country could drain the reserves in a week. It does nothing to push prices down.

[@specialopsdave]

But we don't need exploration, we need drilling. Most oil companies already own claims to many oil-rich locations that haven't even begun to be drilled yet.

[@antistupid4712]

So by your logic... If you don't use it, you lose it? This isn't the movie 40 year Old Virgin! If you understood how the SPR works, there is a constant rotation of barrels to keep inventory stable. We are not arguing about using the reserve, we are arguing about letting it drop so low, when war and global conflict is on our door step. What price are we going to pay to fill it back up? When would you suggest we buy low? Clearly the price isn't going to plummet in 3-weeks lol. Go back to economics class, then comment.

[@Firestorm637]

USA consumes 20 million barrels/day. Release from SR does not do much. More costly to refill.

[@stephen7825]

The oil reserves was never intended to fuel the entire county but to supplement current production and imports. It was intended to be used as a bandaid and it's being used as a bandaid.

[@WPaKFamily]

@@stephen7825 Biden is not smart, he is not using the SPR as it is suppose to be used. He doesn't understand economics.

[@kathyandrew3357]

YOU WORK FOR 40YRS TO HAVE $1M IN YOUR RETIREMENT, MEANWHILE SOME PEOPLE ARE PUTTING JUST $10K IN A MEME COIN FOR JUST FEW MONTHS AND NOW THEY ARE MULTIMILLIONAIRES.......

[@hellenfordyce7124]

+1520

[@hellenfordyce7124]

428

[@hellenfordyce7124]

4134

[@solomonhulk8670]

my first experience with her gave me the assurance and confidence that has made me to invest without fear of losing

[@Salisuadam7050]

+1520

[@danjohnston9037]

Another reason to have alternate energy sources on-line. Oil wants to be babied too much.

[@michael2275]

Low IQ. Oil is just that much more important than any other commodity.

[@calbowa]

Dude what world do you live on

[@jonhay75]

Hahaha... You think a wind farm gonna help you out in an emergency.....?..🤣🤣 Dreamer

[@danjohnston9037]

@@jonhay75 You gonna make an emergency tough guy ?

[@danjohnston9037]

@@jefferycantrell5363 The infrastructure is being built in spite of constant stalling. Start weaning yourself will be a process start now.

[@danpetrescu4915]

Release in USA market or go in Other countries?

[@cocobrez]

Why doesn't the U.S nationalize its oil?

[@robertagren9360]

They're about to blow it all up.

[@jclaer]

I wish the presentation had included a graph of the amount in reserve. Will it reach zero on election day?

[@bipl8989]

It's around 400,000,000 bbls.

[@HepCatJack]

It could be a good use of that grain oil that is unsafe to eat instead of coming up with products for people to eat them, to use it as feedstock for gasoline or diesel.

[@thisisyourcaptainspeaking2259]

Did buying this oil keep US energy companies from going bankrupt, or was this a purchase of foreign oil? Just any oil can't be refined, it must be of certain blends, and this means from various places. The logistics are very complex.

[@avarmauk]

I assume it’s for making deep fried food. Oooh you meant crude oil. My bad

[@gamepool8517]

Technically crude oil is used in making of deep fried food🙂

[@Pfyzer]

McDonald has cooking oil stored somewhere

[@marcogallo2811]

@@Pfyzer this wasn't a video about McDonalds strategic cooking oil reserves? what did I just watch?

[@JJSmalls]

Cancelling the pipeline and drawing down from reserves. What could go wrong?

[@wecharg]

Energy is money

[@eprofessio]

That petroleum is meant to fuel our military in a time of need, not political slush fund.

[@jasonhaks]

Check Google for yourself. The USA uses/consumes just short of 20,000,000 (20 Million) barrels of Oil per day (PER DAY). How does any of these small releases from the SPR make any difference to pump prices? And why is 20 days of Oil consumption equivalent reserves (20daysx20m=400m) seem like a lot to people? Shouldn't there be a lot more for security purposes?

[@spacetoast7783]

The world doesn't completely stop producing oil just because the US is selling some of its stockpile.

[@honeytubs]

There is already storage in cars gas tanks, in gas stations, regional depots, at refineries. And production can ramp up at wells. Instead of releasing oil should have suspended the fuel tax to lower prices.

[@spacetoast7783]

@@honeytubs That wouldn't work. Lowering the tax doesn't address the supply, and the demand is highly inelastic, so almost all of the tax would go to gas sellers.

[@bipl8989]

It keeps speculators nervous about bidding up the futures price.s They'll lose money if they buy oil at a high price today and SPR releases it tomorrow. The value of their futures contract would drop.

[@JeffWallace-y8b]

Just asking. Why would you publish where its located?

[@bigtimfish01]

They're called caverns not caves

[@spaghetti9895]

The SPR release is such an inconsequential amount in comparison to production its just a a waste of money.

[@truthbeknown2022]

If the WSJ hasn't noticed yet, Oil factually comes "from" underground pockets! To store that Oil in easily accessible underground pockets is self explanatory, as I explained!

[@danjohnston9037]

Why are you mad ? Are out of pocket over this ?

[@truthbeknown2022]

@@danjohnston9037 wow Dan, you can read emotions from a factual statement? Apparently Vulcans (aliens of Earth), have infiltrated the Population! I don't drive, that's done for me, so no out of pocket!

[@danjohnston9037]

@@truthbeknown2022 Recognition appreciated. Do you use alternate transport modes, or are you completely sessile ? What source do you use for electrical generation ? Does photosynthesis play a role ?

[@truthbeknown2022]

@@danjohnston9037 I'll just say by your retort, you're a 90% World Population person, adverse (negative) behavioral traits, and alas, by knowledge, and life experiences, your equivalency to me would most likely be an "Amoeba"! Tally Ho, Danny!

[@billybillson9831]

@@truthbeknown2022 whyd you delete your comment

[@FlorianMaeder]

Too bad this report doesn't mention the oil from the SPR that's already been sold but not yet distributed.

[@Robocat9000]

I still didn't get why the oil is in a cave so deep down.

[@Hustler_90210]

To protect your reserve? If stored above ground 1 well aimed missle would wipe it out. That'd be my guess. On top of many other security risks.

[@whereswaldo5740]

Because oil doesn’t spill up.

[@PrinceofPwnage]

It's called the SEARS tower. ;)

[@Max_Chooch]

Why is the location of this public knowledge and on youtube? Doesn't seem very smart to me.

[@honeytubs]

Federal gov is selling oil to oil companies to keep prices down. At the same time Federal Gov is charging consumers tax on gas which makes the price higher for consumers. Depleting the reserve to do so. Why not just suspended taxes for the consumer?

[@bickyboo7789]

We gotta keep sending Israel money somehow amirite?

[@leouvarov8982]

you need to produce more oil, taxes won't help

[@jgrif7891]

@@leouvarov8982 it will in the short term.

[@umaikakudo]

What a great example of how government intervention and manipulation of the market causes more problems than it fixes.

[@user-km2bz8iy5o]

Wouldn't it be easier if the reserve automatically bought oil at $X and sold at $Y, where Y>X.

[@spacetoast7783]

What if oil never goes down to $X? What if oil stays below $X til the cave fills up or the country runs out of barrels?

[@honeytubs]

Gov is not trying to make money. Gov is actually trying to lose money. They buy high and sell low to stabilize prices.

[@wrecker8236]

Why not increase production?

[@spartanpatriot3163]

Your boy in office has made it clear no more oil production in the United States.

[@liemto9485]

Instead of providing cash to poor countries to fight climate warming on the world, the countries should build wind and solar power for the poor.

[@goobot1]

I think Europe plans on doing that in Africa

[@somaghosh2960]

Interesting oil geopolitics.

[@mrg7407]

This is as REAL as The Moon Landing

[@Castle_Bravo.]

The oil companies can lower their prices and still make profits.

[@calbowa]

Global market

[@thedopplereffect00]

They can't actually

[@danielstory2761]

@@thedopplereffect00 they’ve made record profits lately. Drilling was slowed during the pandemic. When demand went back up, oil companies raised prices instead of drilling more

[@goobot1]

@@danielstory2761 nah Russia got cut off from global markets and they are a major supplier

[@johnblaker2454]

@@goobot1 No they didnt. Russian global crude exports are only down slightly. They just rerouted their oil to other customers that say "lulz @Murica, we want cheap oil"

[@ThebigJJ621]

What the US need is to have a government control petroleum company directly competing against private companies thus to incentivize the private sector to continue to innovate instead of just marking price up without producing more.

[@dissy5563]

Yeah, more government, that's the solution 🙄.

[@happyblt624]

having a government controled agency compete against private companies is stupid and undermines the issue, ask the british free healthcare that TRIES to act like a company

[@calbowa]

It’s a boom and bust industry, who is going to bail out this publicly funded oil company? Take a look at the consolidation that has taken place over the last 3 years. There is a reason why companies are exercising capital discipline and not pursuing risky projects.

[@antimatter7629]

Norway nationalized their oil industry decades ago and they're the happiest country on earth

[@iwiffitthitotonacc4673]

@@dissy5563 Nice thought-termination.

[@simon3812]

We are literally taking oil out of the ground and putting it right back

[@TheBeasteri]

Just stop taxing gas. Problem solved

[@wesleyjohnson597]

Or you could open the pipeline back up right?

[@JeremyAdomson]

I wish mine was used 😊 thanks.

[@TheMagicJIZZ]

Does it store refined oil or crude

[@TheCrankaintdead]

crude

[@thomassteele5445]

Well then just go on give them all they need 2 knowledge of where it's stored at .Just crazy.

[@dpharr100]

It is very irresponsible using this oil..

[@goobot1]

What oil is responsible?

[@2ndamendmentmf183]

What could go wrong I wonder

[@philipdrew10]

Its a money making strategy not shortage

[@poopfaceog7792]

For who? Because as of lately my pocket book is the emptiest it's been in a long time.

[@rollotomassi6374]

Then don’t tell Ali baba in DC ….he will sell it the the highest kickback bidder…..

[@larryjohnson1675]

Sears tower

[@sasmiain3323]

Scrolled just for this

[@randystone4903]

Strategic means military. If we need to move a Navy task force across the Pacific they can use a million gallons a day from the reserve. We shouldn't be using the strategic oil reserve to manipulate civilian gas prices unless we have a disaster within our borders.

[@MithunOnTheNet]

Can't the SPR be replenished easily? Isn't the US the world's largest producer of oil now?

[@thedopplereffect00]

We were under Trump

[@spacetoast7783]

@@thedopplereffect00 And we were under Obama and we still are under Biden. Stop worshipping politicians.

[@goobot1]

@@thedopplereffect00 that hasn’t changed and the transition started under Obama

[@Shoot_and_Scoot]

How fast can it all be loaded on a slow boat to China? Do we ship it to them or are they coming to pick it up?

[@jaytilala7388]

SPR is meant for wars and Oil Embargo. It's not for political purpose just so you can lower gas price for midterms.

[@The-Drone-Hobbyist]

Yeah. Joe Biden is doing that just trying to get those dems to win the midterms. Trump 2024

[@christianbolt5761]

Agreed

[@jtgd]

SPR is meant for strategic supplies. It was meant to protect oil supply during an embargo, but that’s not its sole purpose. I don’t get you people. You complain about oil prices, but when someone tries to do something, you complain “You can’t talk about SPR is for _____” when there’s no legal limitation on selling it to lower prices. I mean what do you expect? We should just not do anything about oil prices until after the midterms? I’m not even a Biden fan, but people complaining about the SPR being used to lower oil prices seem to only care about it because they believe it’s only done to improve chances for the midterms, which isn’t any different than any other politician doing their job to make sure they stay in power. But if this is bad, let’s hear the alternatives that can do as good or better, rather than mere complaints about midterms

[@mountains889]

@@jtgd AGREED, but should be done for a sustainable amount of time - Biden has NO PLAN to increase oil supply - NO PLAN to buy oil to refill the reserve at a later cheaper price

[@bngr_bngr]

@@jtgd who is buying our SPR?

[@brandonleesanders]

I’m sure putting this information onto KZbin isn’t a “National Security” concern at all…

[@MrHowhot]

It's well known public knowledge anyway

[@spacetoast7783]

Like putting it on the EIA website?

[@imaviet408]

Why wasn’t the reserve topped off during the pandemic when gas price was low?

[@Jake-rs9nq]

It was

[@stephen7825]

It was aleady full before the pandemic hit?

[@imaviet408]

@@stephen7825 according to who?

[@Jake-rs9nq]

@@imaviet408 The SPR has been at full capacity from 2008-2020. Look it up on the EIA's website.

[@KB-ke3fi]

@@imaviet408 I work for XOM, and I say it was.

[@Justin-yc1ig]

They had to stick it in hurricane flood territory? For christsakes, man.

[@workstationmark4103]

Tidal Energy Babe

[@chuckinhouston9952]

This is like raiding your 401(k) to buy a sports car. Industrial-strength-stupid.

[@evisceratednation]

And the prices are going up already.

[@goobot1]

More like raiding your 401k cause you can’t afford to drive to work cause gas prices are high

[@jamesmcd71]

We don't publish the location of this oil for a reason. No its not a secret but it's been understand by everyone that no good can come from publishing the location of this oil. I guess it's not a big deal now that half of it is empty.

[@blackhawk7r221]

The reserves are located in the Gulf coast in three old salt mines. This is public information.

[@nasigorengpecelesteh1506]

Wow storing oil in cave dam so clever...

[@jonhay75]

If Biden says it's OK then I'm fine with it.....🤣🤣

[@possibleimpossible3359]

Corn = Ethanol + Canola = Glycerol {75/25 3:1} Substitute for Gasoline in the Automobile Industry and the Power automotive industry 😮

[@ParanoiaTheDJ]

Too bad we aren't drilling like we should be.

[@hienphamthe90]

well, its "emergency" for his midterm election

[@spacetoast7783]

Maybe your parents buy everything for you, but the rest of us are getting hurt by high prices.

[@goobot1]

If so then it must be emergency for us if it has a big Impact no? I guess you didn’t think out your comment

[@expletivedeleted]

As an attempt to poison the land?

[@cjezinne]

What’s the point of having a reserve if we don’t use it?

[@MrGotmilo]

Used for emergency.. war , another oil embargo, natural disasters,etc

[@dissy5563]

@@MrGotmilo exactly, not for political purposes.

[@Jake-rs9nq]

@@MrGotmilo Except there IS a war going on, and the sanctions have created an energy emergency. It's a valid time to use it.

[@khanhnguyen-tt3ff]

It like insurance

[@cjezinne]

@@khanhnguyen-tt3ff definitely. My comment was more towards the people against the use of the reserve. This seems like exactly what it was made for

[@jeffery1855]

I think it was rather short sighted of Biden to just release 180 million barrels from our strategic reserve. That should really only be used for war time. In other words, during times of war. Not during times of minor economic discomfort.

[@lordgarion514]

Got news for you. Unlike the BS you've been fed by social media and the internet, the oil reserve was specifically set up for the economy, NOT the military. You don't fight a war without an economy, and that crashes if your main transportation fuel runs out. So the economy is the most important thing whether in a war or not. And I'm willing to bet the military has its own reserves. Plus I doubt the feds tell the truth about how much oil is in the reserve.

[@jeffery1855]

@@lordgarion514 not sure about feds lying to us but this makes a lot more sense

[@mrman8856]

You're very gullible if you think the military oil, and oil you receive is coming from the same reserves.

[@TheAnnoyingBoss]

Worst part is he wants to spend a fortune refilling it when trump refilled it for dumb cheap in comparison

[@TheAnnoyingBoss]

@@mrman8856 it's literally the strategic war reserves

[@MayorMcC666]

sell high

[@AcesizOfficial]

Interesting

[@user-py7hf9zg5d]

At least give us some real units in addition to yours

[@OLDGUY7301]

Wrong , it's only 350 million now. We're being put in a very precarious position. We usually have closer to 800 million. Bidonomics.

[@Geoe423]

If Saudi is mad about it, its working.

[@veryhandymann]

He is trying to look good prior to the Midterm elections. After the elections Gas Will Go Up again.

[@spacetoast7783]

So he's doing things to benefit the public during a market shock. What a scandal!

[@veryhandymann]

@@spacetoast7783 No, No, No. He is doing it so he doesn't look so inept. That is why AFTER the Midterms he will stop draining the reserves. If he cared about us he would open up the pipelines he closed and he would reopen offshore drilling.

[@goobot1]

@@veryhandymann what are pipelines gana do if there’s no oil 🤣

[@ottobormann]

This is getting biased. Thanks Jeff, for this just don’t increase Prime or I will no longer have it.

[@bizzfo]

Suppose to be used for national emergencies not to try once again to get votes.

[@newstartyt3700]

it is used for a national emergency, gosh you MAGA dudes or whatever always see this as a game of votes.

[@Jake-rs9nq]

The West sanctioned Russian oil. This helps while they transition to other sources.

[@calbowa]

@@Jake-rs9nq Global oil demand is forecasted to rise Y/Y for the next 12-15 years. SPR is designed for 90 days… doesn’t square up.

[@Jake-rs9nq]

@@calbowa SPR is not designed for any specific amount of time. You're just citing the fastest time that it could be depleted, it has never been drained at that rate. In reality, the US is the world's largest oil producer, and Canada is the 4th largest exporter (98% of their exports go to the US). We have enough to meet domestic demand all on our own, the SPR is useful these days as a geopolitical tool, a way to enforce American interests. We won't need an extra 4 million barrels per day for 3 months straight. When the price goes down, we'll just fill it up again.

[@spacetoast7783]

Is war and skyrocketing energy costs not an emergency? It must be nice to have your parents buy everything for you.

[@yongchen4158]

Oil is liquid gold is a need supplies forever like water need to live on

[@culturebreath369]

Smart. 💪🤷‍♂️

[@jeep1570]

Its finnneee

[@dannyron7735]

no good

[@gchwee83]

Ramp up oil production? What about climate goals? Natural disasters? Isn't it time to reduce reliance?

[@piktuliz]

don't worry about that russians have tactical nukes they will solve all climate problems.

[@coconutstory]

Don’t have the technology and infrastructure yet.

[@thedopplereffect00]

You first. Tell us how you have sacrificed.

[@gchwee83]

I don't drive. My country uses electric buses. I never use air-conditioning. Also don't commit the "you-too" fallacy. Hypocrisy don't render arguments invalid btw love

[@thedopplereffect00]

@@gchwee83 electric buses = high tax rates, dense urban cities. No AC = lucky climate. You didn't sacrifice anything. You got lucky.

[@jarrodyuki7081]

oh boy!!!!!!!!!!!!!!!!!!!!!!!!!!!

[@elana137]

I'm glad Saudi Arabia said no. Because they're not America's puppet to just do what they say.

[@goobot1]

Saudi Arabia seems happy to cower behind America when Iran comes barking

[@hassankhayyam2194]

May be steal and hide from occupied Syria 😂

[@TheMrMused]

Yeah, this is great and all, but let's not lose sight of the fact that the largest refinery (and 24 distribution depots) in the US are 100% Saudi owned. Thanks for not preventing that, Trump. (2017, Aramco .. Port Arthur Refinery - while not brokered by the Trump administration, it was not halted either - largely hands off, to the detriment of the US)

[@mikeruhland6928]

Robbing Peter to pay Paul.

[@coffinbirth5243]

Don't make me laugh. "In 2021, the United States consumed 18.7 million barrels of oil daily."

[@_-_._-.]

how many old russian nukes are pointed at those reserves?

[@chunglaw9644]

What do you us when you at war in near future?

[@Jake-rs9nq]

The US is the largest oil producer in the world. And it imports mostly from Canada and Mexico. A war won't prevent the oil from flowing.

[@nyxp4234]

20 days supply 😂

[@SixDaysOTR]

Texas just needs to leave the US..

[@klind57]

Not anymore.its sold to China.

[@andrewmartinez8340]

This administration made so many mistakes

[@pandahsykes602]

All that oils gone soon - don’t worry though, Big Joe has been taking some barrels of diesel and oil from Syria and Haiti low key … but hey if that lowers my gas prices I’m ok with that .

[@hrufhduehveugrhhty2024]

I hate it when Biden didn't open up US-Canada Keystone pipeline. Now everyone paying up dearly on either global market or domestic market.

[@aaronlward]

That wouldnt have made difference. Gas prices here in Canada are still higher than the US.

[@stephen7825]

Nor sure if your aware but a pipeline doesn't make oil it only transports the oil that is produced... this is a supply issue not a transportation one... also as the other guy mentioned Canada has some of the highest oil production cost in the world... so again the pipeline doesn't really do much

[@calbowa]

@@stephen7825 it is also a transport issue, 48% of the US refineries are in the US gulf coast. Crude oil in the northern US doesn’t help bring down fuel costs if it can’t get to a refinery. Moreover, certain refineries are designed to run certain grades of crude oil. It’s not a one size fits all. But yea keystone wouldn’t have made a material difference seeing how it was never online in the first place…

[@benjaminmiller3738]

tar sand oil is the worst oil you could possibly want. Not even sure if We have the necessary refineries to produce gas from it. Probably just all export.

[@thedopplereffect00]

@@calbowa you miss the big picture that cancelling that pipeline signals to the oil industry that they are not welcome. They are not going to bother increasing production under a hostile admin. If they can't get that pipeline going, how would they build the next one?

[@richardg4764]

Why would you reveal strategic assets for the entire world to see?? Also, interviewing people over the internet connection is like listening to someone talk into a tin can.

[@spacetoast7783]

How are you going to sell into the open market without anyone noticing? How are you going to buy things on the open market without anyone noticing?

[@ckino5628]

You can't hide that kind of construction from satellites, auditing, and curious citizens in a free democracy