Athabasca Oil Corp T.ATH

us gov. plan to buy oil to replenish the SPR at $79.00 ....

[BLACKJACK86]

is that a joke,how can you buy so low with current price????

U.S. oil tops $90 as U.S. Navy warship intercepts missiles near Yemen, Energy Dept. plans to buy oil for SPR - MarketWatch


Oil prices moved sharply higher Thursday afternoon in electronic trading, with U.S. benchmark prices topping $90 a barrel. A rise in tensions in the Middle East led to the price climb, with reports that a U.S. Navy warship has intercepted multiple missiles near Yemen. A Pentagon press secretary told reporters that a Navy destroyer intercepted three missiles and several drones that were launched by Houthi forces in Yemen, but their target was unknown. Separately, the U.S. Energy Department said it will post monthly solicitations to buy oil for its Strategic Petroleum Reserve through at least May 2024, with the first request for up to 6 million barrels of oil for delivery in December and January. The government agency said it plans to buy oil at a price of $79 a barrel or below, which is less than the average $95 it received for 2022 emergency SPR sales.

[vindaloo_u2]

I would imagine 2/3 of the US strategic reserve consists of sour oil.  Quite simple to keep the average cost (sweet + sour) of the spr replenishment low in this case.  All the states has to do is continue  paying canada peanuts for their 'very bad' sour oil. To make matters worse (for the canadian economy...not so much for the states), well funded special interest groups

[matt2018]

Last week Canada shipped 3.7M bbl/day into the U.S. Next highest importer was Mexico at 609k bbl/day. Without that product coming in from Canada everyday what would price of gas be stateside? Maybe $10 gal.? Furthermore, with TMX pipeline coming on line soon, you may not be able to source Cdn cude for "peanuts" much longer.  More options to get higher price elsewhere.

[vindaloo_u2]

How much of that oil from the new trans mountain pipeline will be shipped to the west coast of the states?  As you said, the US relys on that cheap source.  Without it, the US 'consumer' (always reminds me of cattle)  revolt. Canada provides the US with these cheap resourses as russia once did for europe.  Oddly enough, our (i live in germany) cheap source of energy

[matt2018]

The Cdn producers can ship it to the U.S. West Coast no problem. Whoever wants is going to have to pay the going rate for it. No more free rides.

[cahclick]

  Sleepy Joe might be wondering about the wisdom of canceling Keystone XL now that he pumped the SPR down and is a whisker away from a fist fight with Iran. Nice work Joe, your new list of problems could now include Russia, China, and Iran. $10 per gallon might look pretty good in six months. Better to to import Oil from Iran and SA - right Joe ? Right Justin? No new pipelines to the

[vindaloo_u2]

I prefer 'ole sniffy' but sleepy joe also works.  The current sock puppet pm of canada can't really be blamed though...he's just carrying out orders as the rest of them did before him.  Still believe that ath will be a cash machine however at reasonable oil prices.  The US seems hell bent on finally dragging iran into 'democracy' discovering demolition