RE:RE:RE:The SPR - a history; quick facts and other stuff$14.5 B sounds like a lot, but it's not really that much for the USA which has a 23 trillion dollar economy and trillions of revenue and expenses every year. It works out to about $40 per person and amounts to a rounding error.
The financial value in terms of inflation control and political value in terms of re-election for keeping the price of oil low is far more valuable than the profits they booked selling oil from the SPR.
dllscwbysfn wrote: Highly unlikely that they fill any of the SPR. They are at their max debt level already.
U.S. Will Hit Debt Limit Jan. 19, Yellen Tells Congress - The New York Times (nytimes.com) red2000 wrote: Thank's 2021Gamble !
Very informative !
After reading all numbers, why US Gov want to refill the SPR as high as it was in dec 2021 : 594,7 MMbbl ! It's a none sense for me !
They made a lot of money during 2022...
594,7 - 374,7 (nov 2022) = 220MMbbl sold at 95,70$ - 29,70$ = 66$ per barrels
=== 14,5B$.
What they going to do with this money !
Finance CAPEX for US producers, cut taxes at the pump !
So Trudeau have to do something similar for CDN O&G producers !
I am still convince, CDN producers want a WTI barrels at 90$ US or so and a WCS barrels at 70-75$ US !
Only my O !