Baytex Energy Corp T.BTE

Doubt on Biden SPR plan

[BayStreetWolfTO]

Over promise under deliver....market figuring it out....WTI RTQ $103.56....oil saying...."Is that all you have?"....Biden didn't even get it to double digits...spring/summer coming....oh and don't forget the start of the Russian impact....April 1st is Friday (no joke)


"On the US SPR release: Several market participants saying the maximum flow rate from the SPR is around 0.5mbpd. If that is true, the Biden administration will struggle to release 180mb over 6 months."

"These are the largest total weekly volume of US SPR releases on record. 500 kbd is a reasonable estimate for pipeline capacity. Maximum capacity will be different for heavy vs light volumes. Drag reducing agents (DRA) can increase capacity but it's expensive."

[Wildfury]

Question BSW, how much oil is actually remaining in the SPR reserves? It's basically like your savings account that you have for those rainy days but once you draw down all of your funds what's next? I have no idea about Canada or other countries reserve numbers but in regards to Bidens plan to release 180 million barrels equals less than 2 days of the worlds consumption, 2 days. There has

[BayStreetWolfTO]

Exactly Wild, this is great for all Cdn O&G companies. No one knows where we go but Biden is motivated by politics and the politics of high gas prices will negatively impact him. My worry would be coming into Hurricane season (a bit over a month to May) what happens in a true emergency? If President Biden orders the release of 180 million bbl of crude from the SPR (as briefed by the White

[Franman184]

I belive the SPR currently has about 570 million barrells. The lowest level it has been at in quite a few years.

[BayStreetWolfTO]

568.3M

[Maxmoe]

Some guy on cnn said spr will be lowest since 1984. It will need to be refilled or will be permanently less "strategic". Politicians are very proficient at kicking the can down the road.