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U.S. Is Already Exporting Oil From Strategic Reserve at Record Pace Devika Krishna Kumar 02:38 AM IST, 10 Nov 2021 09:23 AM IST, 10 Nov 2021 Save (Bloomberg) --
If the Biden Administration decides to tap U.S. emergency crude reserves to push down domestic energy prices, it may not help all that much. The supplies may just be exported away like last month.
About 1.6 million barrels of crude from the U.S. Strategic Petroleum Reserve -- a monthly record -- was shipped out in October, according to data from market intelligence firm Kpler.
Three cargoes were loaded onto a supertanker in the U.S. Gulf Coast and are headed to Asia. “Given the ongoing pace of the current SPR release -- 12 million barrels in the last two months and the biggest weekly release.so far last week at 3.1 million barrels -- it’s fair to assume more SPR barrels are going to leave U.S. shores in the weeks ahead,” said Matt Smith, an oil analyst at Kpler.
The White House has been mulling a range of options to ease soaring pump prices and Democrats are pressing for a potential ban on oil exports as well as the release of crude from the nation’s strategic reserves.
Comment:
How about reinstating key stone pipe line.
How about opening up areas for drilling....
How about NOT shutting down pipelines as AOC wants to do.
Joe.....you entered the White House with a country that was the largest exporter of oil. LARGEST.
You now oversea a country with lowered output and ever increasing prices.
Winter is coming.....can not wait to hear the stories ie cost for heating oil.
Your goal is working.....you are hurting Americans.....but don't worry you can have your electric car to drive.....only if you can afford the price tag and inconveniences that come with e cars.
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