Baytex Energy Corp T.BTE

SPR Refill

[andy604]

The U.S. Administration could begin crude oil repurchases to fill the Strategic Petroleum Reserve as early as in June, after a Congressionally-mandated sale from the SPR is completed next month, U.S. Secretary of Energy Jennifer Granholm said on Thursday.  

“That congressionally mandated sale of 26 million barrels will be completed by June, and it's at that point where we will flip the switch and then seek to purchase,” Granholm said during a hearing in the U.S. House of Representatives.  

[Swackaboozy]

Not gonna happen she's lying.

[uwebb429]

I agree. President's get re-elected in the U.S. based on the price of gasoline at the pump. Refilling the SPR will increase oil demand. That will increase the price of oil and the price of gasoline. No president heading towards an election next year wants to do that. Best to save refilling the SPR and all of the other issues that have been created until after November 2024. Any token SPR

[dandu1924]

But  the people have  a short memory  after one month , everything is forgot.  So  Biden can refill the SPR anytime  until  August-September 2024. Anyway  the way the oil can go up and down very fast Biden can fill up the SPR without any issue.

[jleer42]

Sales from the SPR went into revenues, not like the money is sitting around to purchase oil and refill the SPR. There is no way money will be approved by the senate or asked for by the executive to refill the SPR. Too easy to make political hay, everyone will just leave it and move on, regardless of whatever promisies are made.

[IainCaimbeul]

Correct, the only variable we as retail investors can control is our own impulses. Recall we have a PM who promised the last of "first past post" elections until he realised that was detrimental to him and the liberal party. But the real doozie was that they (liberal party) would be the most open and transparent government EVER - hahahahahahahahahaha. Do your DD.

[dllscwbysfn]

I thought the real doozie was "budgets will balance themselves"

[thewarrior]

Fantastic post!

[Greenday]

The Energy Department announced Monday that it is seeking bids for up to 3 million barrels of oil to replenish the Strategic Petroleum Reserve in August, marking the agency’s second attempt to fill the emergency fuel stockpile since it released more than 200 million barrels last year to help ease soaring energy costs. In a statement, the agency said it plans to