Oil from U.S. reserves sent overseas as gasoline prices stay high
Jul 6, 2022 09:23:48 #
HOUSTON, July 5 (Reuters) - More than 5 million barrels of oil that were part of a historic U.S. emergency reserves release to lower domestic fuel prices were exported to Europe and Asia last month, according to data and sources, even as U.S. gasoline and diesel prices hit record highs.
The export of crude and fuel is blunting the impact of the moves by U.S. President Joe Biden to lower record pump prices. Biden on Saturday renewed a call for gasoline suppliers to cut their prices, drawing criticism from Amazon founder Jeff Bezos.
https://www.reuters.com/business/energy/oil-us-reserves-head-overseas-gasoline-prices-stay-high-2022-07-05/
Jul 6, 2022 09:49:48 #
Jul 6, 2022 17:36:51 #
Rose42 wrote:
img src="https://static.uglyhedgehog.com/images/s... (show quote)
Perhaps you don't realize that some oil cannot be refined in the US and is essentially traded for foreign oil that can be refined in the US?
Jul 6, 2022 18:43:23 #
jcboy3 wrote:
Perhaps you don't realize that some oil cannot be refined in the US and is essentially traded for foreign oil that can be refined in the US?
Are we dumb enough to have that kind of oil in our strategic reserve?
Jul 6, 2022 22:56:35 #
Rose42 wrote:
Are we dumb enough to have that kind of oil in our strategic reserve?
Don't count me in with the dumb people that make these kind of decisions; I have nothing to do with it.
Jul 7, 2022 06:47:35 #
jcboy3 wrote:
Don't count me in with the dumb people that make these kind of decisions; I have nothing to do with it.
No kidding.
Jul 7, 2022 08:35:02 #
jcboy3 wrote:
Perhaps you don't realize that some oil cannot be refined in the US and is essentially traded for foreign oil that can be refined in the US?
Can you explain why the US would have oil in the national reserve that can't be refined here?
Oil in the reserve this is basically useless to us?
Jul 7, 2022 11:15:27 #
I haven't heard any thank yous to Donald Trump for putting that oil there when he topped off the reserves during his term. C'mon man, Give him a shout out Biden.
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