RE:RE:Eric NuttallEric also claims the USA will likely never refill the SPR . There is no benefit poltically to that . The average American doesn't give a rats pituty if it's low and filling it would hit their budget and the price of oil . Higher gas price equals lower approval rating.
Anschutz wrote: Personally I no longer believe the perma-bull thesis Eric promotes. Looking at the price of oil, in relation to inventories, in relation to CPG share price.... there's little change. While the SPR is lower, the weekly US inventory reported is very close between May 2018 and today. Nobody seems to care about how much is in the SPR so long as non-SPR inventory remains well supplied. The summer of 2023 is looking more and more to me like a slow melt down. Hope I'm wrong, but that's how I see it today.