Recent Legislation Mandates Additional Sales of U.S. Strategic Petroleum Reserve Crude Oil – Why?
While we are looking the other way, Congress is managing to sell off our strategic reserves. Why might I ask? While the recent boon in energy finds in the USA is great, it still needs to be refined. The recent hurricanes have caused shortages requiring a release. We are one terrorist away from possibly needing our reserves again. I include a list of recent releases. As if that was enough, keep this old post in mind.
U.S. giving away ownership and control of our Energy and refineries August 6, 2014 B-ville
Yes, let’s put the USA at risk.
US omnibus bill mandates sale of 10 million barrels of government …
A little history on the stockpile:
The largest stockpile of government-owned emergency crude oil in the world, the SPR was established to help alleviate the effects of unexpected oil supply reductions. Located in four storage sites along the Gulf of Mexico, the SPR held more than 695 million barrels of crude oil at the beginning of 2017, or about 97% of its 713.5 million barrel design capacity. Prior to FY 2017 sales, the SPR inventory level had remained nearly constant for several years.
Source: https://bunkerville.wordpress.com/2018/03/27/recent-legislation-mandates-additional-sales-of-u-s-strategic-petroleum-reserve-crude-oil-why/
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