Originally Posted by PerfectSpiral
My major take away from this article is that the Keystone pipeline is faulty. Who would have thunk it? Pochantas?


uh... since they planned on restocking the reserve they are releasing 90 million more barrels...



Nov 23, 2021 Today, the President is announcing that the Department of Energy will make available releases of 50 million barrels of oil from the Strategic Petroleum Reserve


https://www.npr.org/2022/10/18/1129...other-15m-barrels-from-strategic-reserve
October 19, 2022 Biden is releasing 15 million barrels from the strategic oil reserve to tame prices


https://www.reuters.com/business/en...eserves-mandated-by-congress-2023-02-13/
February 13, 2023 U.S. to sell 26 mln bbls of oil reserves as mandated by Congress


https://www.energy.gov/articles/doe...le-crude-oil-strategic-petroleum-reserve


The oversight committee is also now on the case.

https://oversight.house.gov/release/comer-fallon-biden-administrations-depletion-of-oil-reserves-jeopardizesamerican-energy-independence%EF%BF%BC/
Apr 5, 2023 Comer & Fallon: Biden Administration’s Depletion of Oil Reserves Jeopardizes American Energy Independence

“The unprecedented and historic decision to release over 200 million barrels from the U.S. oil stockpile reduced SPR inventories to their lowest levels since 1984. Committee Republicans are concerned the Biden Administration abused the SPR for political gain—to lower skyrocketing gas prices before the 2022 midterm election—rather than for its intended purpose of mitigating severe energy supply interruptions or fulfilling obligations to the International Energy Agency (IEA),” wrote the lawmakers. “By gutting vital fuel storage to lower short-term prices, the Biden Administration exposed the U.S. to future market volatility and increased supply dependence on adversarial nations instead of supporting an all-of-the-above energy approach to unleash American energy potential.”


because they have only purchased 6 ish million barrels of oil

https://oilprice.com/Latest-Energy-...ill-Not-Be-Replenished-Anytime-Soon.html

U.S. Strategic Petroleum Reserve Will Not Be Replenished Anytime Soon

Last week, the U.S. Department of Energy announced that it plans to purchase by August 2023 around 6 million barrels of crude oil for the SPR, with delivery scheduled for October and November.

So far, the Biden Administration has bought 6.3 million barrels at an average price of $72.67 per barrel, compared to around $95 per barrel that SPR crude was sold for in 2022, DOE said.



Plus, we are only around 50% of what we were at in August 2020 we only have 363,723 million barrels in reserve.

https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCSSTUS1&f=M