President Biden just canceled plans to refill America's emergency oil reserve

BS - I say. The Biden Administration never intended to replenish the SPR. Such a move does not fit their green energy agenda. Any reason they provide for not incrementally increasing SPR is a lie just to provide cover of their true intention from the very beginning of the release. Just my opinion mind you.
President Biden just canceled plans to refill America's emergency oil reserve — here's why and what it means (yahoo.com)

 

Very astute of him considering that the world is on the precipice of war. Wonder how may AAA batteries it would take to power a tank?

 

Not many once we fully convert to drones

 

He did this for one reason only...The Oracle of Omaha's move to place MORE serious investment money in the Oil and Gas market, due to the worldwide international turmoil.

Can you say Occcidental (he owns 327 million Shares) and Chevron (he owns 110 million Shares).
Regardless of the Party Line stance of the present Administration, the demand can no longer be ignored and the only saving recovery of the POTUS debacle will be to capitulate.

Big Deal....POTUS ups the cost of Leases. Yea, that'll work and put Buffet in his place.

Stupid is as stupid does.

Chaos ALWAYS demands investment. Manufactured Chaos is even better.

Truth in editing: added one of these (i) where appropriate.

 

What can I say, except the guy's dumber than a box of rocks.

As for the Democrat Party . . . well, they were dumb enough to elect him.

 

GOOD JOB!!
I am proud of you.

 

I'm psyched @charley . . . gonna race home & put my Democratic Snoopy jammies on!

 

Considering how bright a flashlight is that uses three, I'll wager a guess and say four.

 

No, your opinion is shared by many others, and better aligns with the facts than does the faux "reasoning" put forth by the White House through the Department of Energy.

The surging oil prices are a reflection of the inadequacy of the consciously-destroyed domestic supply versus demand.

The DOE's use of high prices as an excuse to not refill the “oil piggy bank” in August and September are disingenuous, as the levels in the bank have been absurdly low for nearly 2 years now, and there have been multiple opportunities to replenish much more favorably before now.

From the two screenshots below you can see that Jobie and his cabal have allowed our strategic petroleum stockpile to dwindle to a level not seen in 40 years, and quite abruptly. The precipitous declining slope of the curve is wholly the result of using the reserves for injunctive political relief when The People where up in arms over $5.00 gas prices back in 2022.







Had Jobie and Company not earlier dismantled our capacity to produce oil domestically, the price to us would have been much more tolerable, and any draw down of the reserves would have been much smaller.

That domestic supply is inadequate is an indication, not of accidental neglect, but of a concerted effort to force consumers into other less supportable sources of energy.

This mess is purely political . . . symptomatic of liberals bludgeoning The People into submission to a green culture, and and not the result of others charging us too much for their oil.

 

There is a dirty little secret, though. There is no method to know how much is in SPR.

The salt mines are self-healing. Constantly. To add to the SPR, the method requires pumping liquid into the salt, in order to store the product. Same in reverse. This method shrinks the "vault", since the salt will naturally fill in...heal. if you will.... any voids, and by doing so, the containment becomes smaller. The process has been repeated many times....removing and filling..... over the previous decades, to a situation that now exists that it is mathematically impossible, even if Einstein was still around to help, calculate.

What we do know, is it is a hell of a lot less (the best guess is 20%) than blarney statements of quantity, whether made by the Fed or the Petroleum industry.

 

Until better educated to the contrary, I must believe in the numbers the DOE puts forth, as they most assuredly compute the balance based on deposits and withdrawals in barrels. While the geometry of the chambers may well change, a barrel is still a barrel.

 

No. No barrels. That is manufactured federal feel good stuff.

As of today, there simply is not anything but a probably/maybe/might be/I think guess.

I am sure you can research and satisfy the process. I expect you will. Your training demands you do so and you can't fight Mother Nature.

Now, get crackin' on those books....

 

Gosh Charley, I had no idea that the ledger entries would be in minesfull . . . Don't accountants count beans, and not how full the jar looks?

 

You are on the right track of research. The fallacy of the bean counting, is that, since the first cavern measurements, it was not bean counters. It was and remains sonic measurement. As an engineer, you are well versed in the change of a geographical measurement is subject to constant forces of nature...collapse, movement, voids, resettlement, layer differentials, etc. Salt.... a wonderful storage given to us by nature....while being as structurally superb as (example) 6.000LB. concrete , and self healing and impervious to anomalies such as rust (BARRELS OR TANKS!). But (there is always a "but") it self-heals, and the process of pumping in and/or out, causes a differential in measurement. So...back to sonic measurement. There is a best estimate guess based on the sonic measurement equations, but that is all it is, because, again as basic engineering knows, the signal systems are subject to many variances. This is crude being stored, with various properties of consistency.

But you know this, of course. Thus, sonic measurement, while helpful, is not a simple matter of a before and after calculation that is infallible. Over the time since inception of this storage method, the quantity calculations have been significant, due to the previous natural changes discussed, which, in the most simple description possible, can only yield a guess. As to the beans, if as an example only, if the container for the beans was impacted by air pressure, fracture, evaporation ,etc., causing the beans to escape the original size of the containment, between the counting of the beans originally and following the change event, the beans have to be counted again. This, on first thoughtful consideration, may appear to support the exactness of bean counting as the infallible method of measurement. The problem is, the beans are solid and are within a definitive available void, calculated by a never changing container space. Crude is not stored in this manner, and Crude is fluid and constantly in motion.

So.....

This has been an overly simple Charley Talk, just to demonstrate, as usual, that I know some stuff.

PS: it may be that I have the experience of of observing the storage and removal process, and that got me interested in the subject about 10 years ago. There is a guy called Park Byoung Yoon that had written about the storage method and problems, if anybody really wants to waste some time on a dreary evening (which I doubt anybody really wants to do anyway).

 

I can buy your firsthand knowledge of sonic measurement Charley, but it appears that salts above and below the surface of the oil do not appear to heal in the same manner.

While I acknowledge that the dimensions of the chamber above the oil line would indeed change with healing, and that depositing / withdrawing across the affected zone would produce measurement uncertainty, I submit that coupling the results of debits and credits with "dipstick" reading before and after each deposit / withdrawal should produce more reliable results. The purpose of the debits and credits to do the accounting, and the purpose of the dipstick measurement to determine whether there has been any "drift", due either to leakage, or to healing displacement since the last reading.

In any case, I suspect the published DOE numbers are somewhat erroneous, but not radically different from reality.

 

The problem with your reference: not factual in the stored manner and removal manner used. Brine (salt slush if you will) is pumped in....and remains as a "constancy" that isn't, below the Crude level. It is not a few gallons. It is a hell of a lot of gallons and the method has been repeated over and over for decades. This simple conundrum exhausts the usefulness of your suggested dipstick method. The brine is constantly slushing the in situ salt base and the in situ base is constantly fracuring and healing and re-profiling the cavern dimensions.

I don 't know if you had the chance to read the Park -Et Al paper I mentioned, published after the NLM Filing (although I do commend the grab bag search method you tirelessly employed to use as a point of debate).

I would not want to cast disparities on the education qualities at the University level located in the land of our very good friends....China..... that produced the wonderful equations used, and funded by our other very good business friends residing in Switzerland, but....

Accountants and dipsticks do not change the simple fact that while we can accurately measure what went in originally in waybackthentimes, and we can accurately measure any Crude we add now, we don't total bupkus now, decades later, and will not know decades from now.

Concerning this thought:

What would be "radical".... 2%, 5%, 10%, 20%?

We can measure what goes in. We can measure what goes out. We can not in any confidence measure what is actually there....and the most conservative market and price point determination considerations use 12% 'loss" over the decades. Is that radical? The Market does not think so. The Oil companies don't think so. The Feds don't think so.