What’s President Biden been doing - a lot

[bgreene]

The oil in our strategic supply is actually heavy crude and not the best for industrial use .
We can afford to purge some of it - use some .
600 MILLION barrels worth stored in the salt caves.

[Destroyer]

Originally Posted by bgreene

The oil in our strategic supply is actually heavy crude and not the best for industrial use .
We can afford to purge some of it - use some .
600 MILLION barrels worth stored in the salt caves.

Heavy crude is what is used in industrial applications. #2 bunker oil is the thickest. (So thick it usually has to be warmed before it will flow) It's used in most ship's boilers and in industrial applications.

Brent crude is a much lighter oil and is usually used to make various fuels, etc. used in transportation applications.

ALL oil can be cracked/distilled to make fuels. But the grade of the oil determines the amount of fuel (Gas, Diesel, Kerosene, JP2, JP4, JP5, etc.)
that you can get out of each barrel.

Thank you for making the decision that we can afford to use some of it to pay for an Infrastructure bill. I'm sure our soldiers. sailors and airmen that might have to depend on that oil for fuel for their war machines are much relieved to know that it's ok with you to sell it off.
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[bgreene]

Originally Posted by Destroyer

Heavy crude is what is used in industrial applications. #2 bunker oil is the thickest. (So thick it usually has to be warmed before it will flow) It's used in most ship's boilers and in industrial applications.

Brent crude is a much lighter oil and is usually used to make various fuels, etc. used in transportation applications.

ALL oil can be cracked/distilled to make fuels. But the grade of the oil determines the amount of fuel (Gas, Diesel, Kerosene, JP2, JP4, JP5, etc.)
that you can get out of each barrel.

Thank you for making the decision that we can afford to use some of it to pay for an Infrastructure bill. I'm sure our soldiers. sailors and airmen that might have to depend on that oil for fuel for their war machines are much relieved to know that it's ok with you to sell it off.
.

“ A drop in the bucket “

[Destroyer]

Originally Posted by bgreene

“ A drop in the bucket “

Hardly. 50 Million barrels is 1/12th or just over 8% of our entire reserves.

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[bgreene]

Originally Posted by Destroyer

Hardly. 50 Million barrels is 1/12th or just over 8% of our entire reserves.

.

And oil prices just fell 13% yesterday on covid concerns.
We don’t need to sit on 600 million barrels of oil in caves.

[Destroyer]

Originally Posted by bgreene

And oil prices just fell 13% yesterday on covid concerns.
We don’t need to sit on 600 million barrels of oil in caves.

Not sure if it was 13%, but that's on the stock market and not at the pump. Sure, it's probable that ultimately it's a good thing but what does it have to do with selling off our Strategic Reserve oil? Oil that was put into the ground as protection of our Country. I thought you said you were a patriot? How is weakening our logistical standing patriotic?

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[bgreene]

Originally Posted by Destroyer

Not sure if it was 13%, but that's on the stock market and not at the pump. Sure, it's probable that ultimately it's a good thing but what does it have to do with selling off our Strategic Reserve oil? Oil that was put into the ground as protection of our Country. I thought you said you were a patriot? How is weakening our logistical standing patriotic?

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Oil price just dropped by 13 % . Calm down

[Destroyer]

Originally Posted by bgreene

Oil price just dropped by 13 % . Calm down

Actually it's going back up again. WTI was trading at $68.18 a barrel 3 days ago, and right now it's @ $71.31. Brent Crude (a much lighter oil that most gasoline comes from) is at $75.32 a Barrel today, up $2.43 from yesterday.

In all cases, this is the cost of crude oil, and not reflected in prices at the gas pump at this time. We all know from experience that any price increase is instantly reflected at the pump but any decrease usually take 2-3 weeks (if at all) to make it to the pumps.

.

[bgreene]

Originally Posted by Destroyer

Actually it's going back up again. WTI was trading at $68.18 a barrel 3 days ago, and right now it's @ $71.31. Brent Crude (a much lighter oil that most gasoline comes from) is at $75.32 a Barrel today, up $2.43 from yesterday.

In all cases, this is the cost of crude oil, and not reflected in prices at the gas pump at this time. We all know from experience that any price increase is instantly reflected at the pump but any decrease usually take 2-3 weeks (if at all) to make it to the pumps.

.

Correct

[Destroyer]

Originally Posted by bgreene

Correct

Of course. But what does this have to do with selling some of our Strategic Reserve?

Oh, and here's a nifty little fact for everyone.... That internet infrastructure part of the Infrastructure bill for 50+ billion dollars? Guess where 32 Billion+ is going. The US Government will own the pipe line. So just like Google they will be able to see where everyone on that pipeline is going, what they are watching, what they are saying. In short they will be able to spy on anyone connected to that pipe.

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