5 million barrels of Oil from USA emergency reserve sent to Europe

Bugzbunny129

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Its not that big of a deal.


We consume four times that amount in a single day. That 5mil barrels isnt even 1% of the US monthly consumption of oil
All i hear on here is that its the oil company's fault we dealing with these prices, not the govt/biden causing this

But now When we see the govt playing a part its “Not that BIG of a dealllll…”

Is it oochie wally or is it one mic?
 

beenz

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This is not philanthropy. It’s how you wage ware against Russia without firing a shot.

It’s really a tiny gesture to NATO Allies who are ending reliance on Russian gas and oil. This will pay dividends because Russia can not replace Europe as its number 1 customer

if the majority of the world stops purchasing their oil, what's to prevent china from swooping in and buying their oil for pennies on the dollar as their only remaining large customer.
 
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if the majority of the world stops purchasing their oil, what's to prevent china from swooping in and buying their oil for pennies on the dollar as their only remaining large customer.
Their limited on how much oil they can sell china because their pipeline infrastructure is almost all from Russia to Europe. There’s one pipeline to china and attempts to build a second have had significant challenges.

And even if china did drive their price down that in itself would weaken Russia militarily and reflect poorly on Putin staying in power
 

Scustin Bieburr

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Sounds like a collapse is imminent.
Anyone who has worked in Healthcare with senior citizens recognizes this behavior.

They'll be told that they haven't paid rent in months and will be evicted. They don't believe it and will continue to insist everything is fine.

They'll be told they need to take medication REGULARLY to keep their heart from being destroyed but they won't do it and insist that its not a big deal.

These are the kind of people who are now in charge of fighting climate change, managing our nuclear weapons, managing our economy and keeping American society from collapsing. Unless they are forcefully taken out kicking and screaming like one of these old people to the nursing home, they will destroy our country.

The soviet union collapsed under a gerontocracy and the U.S. will be next if the younger politicians don't do something and fast. The same holds true for the Supreme Court. An old, inflexible mind is not suited for a fast growing and changing world. They aren't built to handle these problems and need to be taken out of the paint expeditiously. However its done doesn't matter at this point, it just needs to happen.
 

Professor Emeritus

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I'm pretty sure literally no one in this thread read the article.

The US government didn't send that oil out to Europe. When they released the crude oil from the strategic reserves they sold it back to oil companies to refine it. Those oil companies chose to send some of the oil overseas instead of refining it here. That's capitalism at work, ain't shyt the government can do about it unless you want government to take control over the oil industry.



The fourth-largest U.S. oil refiner, Phillips 66 (PSX.N), shipped about 470,000 barrels of sour crude from the Big Hill SPR storage site in Texas to Trieste, Italy, according to U.S. Customs data. Trieste is home to a pipeline that sends oil to refineries in central Europe.

Atlantic Trading & Marketing (ATMI), an arm of French oil major TotalEnergies (TTEF.PA), exported 2 cargoes of 560,000 barrels each, the data showed.

Phillips 66 declined to comment on trading activity. ATMI did not respond to a request for comment.
 

Professor Emeritus

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All i hear on here is that its the oil company's fault we dealing with these prices, not the govt/biden causing this

But now When we see the govt playing a part its “Not that BIG of a dealllll…”

Is it oochie wally or is it one mic?


Ironically, the article in the OP proved the point that it's the oil companies causing it. But none of y'all read anything other than the thread title.

The US government doesn't own any oil refineries. They can't refine oil themselves, they can only sell oil from the strategic reserve to oil companies and have them refine it. But the oil companies chose to send some of the crude they received to Europe instead of refining it here, likely because they got a better price for it there.

You're pissed off at the capitalist decisions of profit-seeking oil companies and then irrationally blaming the govt/biden for oil company decisions.
 

ball15life

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I'm pretty sure literally no one in this thread read the article.

The US government didn't send that oil out to Europe. When they released the crude oil from the strategic reserves they sold it back to oil companies to refine it. Those oil companies chose to send some of the oil overseas instead of refining it here. That's capitalism at work, ain't shyt the government can do about it unless you want government to take control over the oil industry.



The fourth-largest U.S. oil refiner, Phillips 66 (PSX.N), shipped about 470,000 barrels of sour crude from the Big Hill SPR storage site in Texas to Trieste, Italy, according to U.S. Customs data. Trieste is home to a pipeline that sends oil to refineries in central Europe.

Atlantic Trading & Marketing (ATMI), an arm of French oil major TotalEnergies (TTEF.PA), exported 2 cargoes of 560,000 barrels each, the data showed.

Phillips 66 declined to comment on trading activity. ATMI did not respond to a request for comment.


quoting for emphasis
 

Spiritual Stratocaster

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Its not that big of a deal.


We consume four times that amount in a single day. That 5mil barrels isnt even 1% of the US monthly consumption of oil
It's scary the amount of resources to make this WHOLE life on earth continue.

Life as we know it would change dramatically if something had to our oil supplies
 
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