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Washington Has Trouble Refilling The SPR After 220 Million Barrel Draw

January 10, 2023

Washington Has Trouble Refilling The SPR After 220 Million Barrel Draw The DoE has received several offers for February purchases to refill the SPR. For February, the plan was to purchase 3 million barrels, ideally when oil dropped to around $70 per barrel. The rejected bids are prompting speculation that refilling the SPR will be […]

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Zoltan Pozsar: Gold At $3,600 Is Not Improbable If US Refill Reserves With Russian Oil

December 6, 2022

Zoltan Pozsar: Gold At $3,600 Is Not Improbable If US Refill Reserves With Russian Oil In his latest dispatch, Credit Suisse contributor Zoltan Pozsar shifted focus on his ongoing series about Bretton Woods III where commodities will dictate the new world order. Instead, the author zeroed in on the depleting Strategic Petroleum Reserve (SPR) of the United […]

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OPEC+ Reportedly Threatening Response To Global Coordinated SPR Release

November 22, 2021

OPEC+ Reportedly Threatening Response To Global Coordinated SPR Release In an apparent ‘threat’ response to headlines suggesting the Biden administration is attempting to coordinate a global SPR release to push down oil prices (and following reports from Japanese media that the government is preparing to release crude from its strategic stockpiles), the Riyadh-based International Energy Forum said OPEC+ […]

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U.S. Mandates Biggest Non-Emergency Strategic Oil Selloff

February 13, 2018

U.S. Mandates Biggest Non-Emergency Strategic Oil Selloff The budget deal that the U.S. Congress passed and President Donald Trump signed into law last Friday calls for selling 100 million barrels of the Strategic Petroleum Reserve (SPR) by 2027 to help fund the government. The sale of 100 million barrels of crude oil in the next […]

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SPR To Be Used To Raise Cash For US Gov

October 29, 2015

SPR To Be Used To Raise Cash For US Gov The U.S. Congress is moving on a budget deal to avert a standoff over raising the debt ceiling, at least until 2017. The emerging budget deal calls for some modest increases in government spending, including on defense, along with some tweaks to Social Security and Medicare. But […]

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Truth takes a hit in the battle over U.S. oil export ban

September 13, 2015

Truth takes a hit in the battle over U.S. oil export ban They say that the first casualty of war is truth. And, on both sides of the fight over lifting the ban on exports of U.S. crude oil, the truth has already fallen into a coma. The ban was instituted in 1975 in order […]

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Olduvai IV: Courage
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