Strategic Protroleum Reserve (SPR) facts
As of June 20, 2024, the United States Strategic Petroleum Reserve (SPR) contained 370.91 million barrels of crude oil, which is a 5.47% increase from the previous year. The SPR's inventory is displayed on its website.
The SPR's total capacity is 727 million barrels and is located at four sites on the Gulf of Mexico. The SPR's maximum withdrawal rate is 4.4 million barrels per day, which means it could take about 79 days to use the entire inventory. However, at a rate of 1 million barrels per day, the SPR could continuously release oil into the market for almost a year and a half.
The SPR was created to help with domestic supply shortages. In the past, the SPR has been used to respond to disruptions caused by hurricanes and the COVID-19 pandemic. For example, in 2017, the SPR exchanged 5.2 million barrels of oil to help Gulf Coast refineries after Hurricane Harvey caused many of the region's oil refining facilities to shut down
Past Sales of SPR:
FY 2022 Emergency Sales: 180 million barrels
FY 2022 Mandated Sales: 38 million barrels
FY 2021 Mandated Sales: 16.7 million barrels
FY 2020 Mandated Sales: 9.9 million barrels
FY 2019 SPR Modernization Sale: 4.2 million barrels
FY 2019 Mandated Sales: 15.2 million barrels
FY 2018 SPR Modernization Sale: 4.74 million barrels
FY 2018 Mandated Sales: 18.9 million barrels
FY 2017 Mandated Sales: 16.2 million barrels
FY 2017 SPR Modernization Sale: 6.28 million barrels
Replies to: Strategic Protroleum Reserve (SPR) facts
"The SPR was created to help with domestic supply shortages."
So it wasn't created to help lower oil prices, meaning your boy Biden used it improperly.
I support Trump's proposal - repurpose SPR. Sell it high to pay national debts. To do that we must
become a big oil exporter. If something urgent happens, we can always cut off oil export and use that for domestic emergency. If we achieve oil export, not just self sufficient, original purpose of SPR can be changed and we can use SPR as a tool to reduce national debts.
Trump's proposal is a good, practical and non-partisan solution in term of current partisan dispute regarding to national debts, i.e. D want to increase tax to pay debts (i just take their face value. Their real purpose on tax is redistribution) and R want to cut spending to reduce debts.
Trump talks shit. It's not how it works nor ever work. Just like no tax on tips.
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Next to my Vette… not talking shit at all
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Why wouldn't either of those work?
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As with all good problem solvers he thought outside the box to alleviate high gas prices.
Your boy Trump would just yell and bloviate then kiss his pals assholes in Saudia Arabia.
The release was about 3 days of fuel in the US. It didn't do anything to prices. Try to know what
you're talking about just once.
He used our county’s emergency reserves to help himself in the upcoming election.
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As with all oil haters, Joe: I guarantee you, we're going to end fossil fuels. Lets start with SPR
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Link: https://youtu.be/OJ7MMsheHzQ?si=OJcVsOkelNQqzpzt
What's your point?
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You are really dull
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The facts: 80+% SPR sold by Biden are not refilled. 90% US refineries are in hurricane-prone Gulf
Coast and current SPR level can only support US for about 20 days. A disruption by hurricane on these refineries longer than 20 days will seriously damage US economy.
The fact: you sold SPR and leave your successor to refill it. This is irresponsible.
What was the emergency in FY2022?
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Ridiculous prices at the pump and oil producers cutting back.
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