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2019-09-16 Economy
Donald Trump authorizes Strategic Petroleum Reserve to release oil
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Posted by trailing wife 2019-09-16 01:59|| E-Mail|| Front Page|| [356 views ]  Top

#1 645m barrels. At 5m barrels a day, 129 days' worth. At 1m barrels a day, 645 days' worth.
Posted by Zhang Fei 2019-09-16 02:53||   2019-09-16 02:53|| Front Page Top

#2 "I have also informed all appropriate agencies to expedite approvals of the oil pipelines currently in the permitting process in Texas and various other States."

He, he, he
Posted by g(r)omgoru 2019-09-16 02:55||   2019-09-16 02:55|| Front Page Top

#3 ^ Thanks for last, best laugh of long, long day.
Posted by Snomolet Dingle1191 2019-09-16 03:21||   2019-09-16 03:21|| Front Page Top

#4 We endeavor to serve
Posted by g(r)omgoru PB 2019-09-16 04:12||   2019-09-16 04:12|| Front Page Top

#5 Fine. Get expensive imported oil out and refill with cheaper domestic oil, prop up fracking industry at the same time. All good.
Posted by M. Murcek 2019-09-16 07:35||   2019-09-16 07:35|| Front Page Top

#6 Not sure it'll be needed, Don, but the statement should help calm the markets. Theoretically.
Posted by Bobby 2019-09-16 08:37||   2019-09-16 08:37|| Front Page Top

#7 Not sure it'll be needed, Don

Arbitrage.
Sell the $25/bbl reserves for $60/bbl.
Lock in customers that the Saudis turn away due to reduced production.
Posted by Skidmark 2019-09-16 11:56||   2019-09-16 11:56|| Front Page Top

#8 Sell the $25/bbl reserves for $60/bbl.

Are we sure it wasn’t acquired when oil was $100/bbl? But it probably is a good idea to draw down reserves anyway, given we can just ramp up production at need — reduce maintenance spending at a time when the budget contains entirely too many unnecessary running costs.
Posted by trailing wife 2019-09-16 16:56||   2019-09-16 16:56|| Front Page Top

22:48 Zhang Fei
22:45 Zhang Fei
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