Whitecap Resources Inc T.WCP

SPR release last week 1.6 mb

[2021Gamble]

Strategic Petroleum Reserve (SPR)2 ..... 604.5 606.1 -1.6 -0.3

[1970Craig]

Hi Gamble.  thanks for the daily info.  Keep it coming.  I just want to ask for clarity a question around the SPR release and what I think to be these amounts being released weekly you mentioned that they weren't saying prior anything about the small draw downs from SPR .    You mentioned that they finally came clean about the 18 Million barrels they already quietly

[1970Craig]

Forget my last post.   I should of read your next post. It says exludes !!!    Feel like a idiot. Anyway.  Thank you for your info it's always appreciated.  Craig 

[2021Gamble]

I'll see what i can do about posting a summary 1970Craig.... But yes... Most of the 18 portion of the 50 has already been released over the past 12 weeks (very quietly)..so the 50 is a scare number, because 32 just isn't big enough to make a difference, but it makes for great press ;) As for the 32...they aren't releasing next month, but over the next monthS... Yes... Months...likely

[MigraineCall]

Hey Craig, There have been sales and drawdowns from the SPR over the last few years. Check out the SPR chart posted by MaximusGainus, and the total product inventories charts. So, there were another 18 mmbbl that already were planned to be released from teh SPR (Sour Crude) that Biden has included in this 50. That means there are only a net 32 million more that he announced to be released. 

[1970Craig]

  Thank you for taking the time to break that down for me in a way I understand and in a way I can learn !     You know the tbought about China taking the SPR barrels  , that crossed my mind too !    It's politics eh !   Thanks again !!!! Craig   Ps as always gave it a thumbs up    

[mugs19]

"But, it gets worse. Since these releases are all sour crude oil, and there are already enough bbls of that in the US system, the likely destination is China. So Biden ends up sending the US SPR oil to China. How stupid is that? LOL!" MigraineCall: You hit the nail on the head!! I saw on TV last night that very subject - stating that the released SPR is designated for China and India