Does US still need a strategic Petroleum Reserve?

Wall Street Journal:
U.S.’s Aging Oil-Reserve Infrastructure Needs an Update

Energy Department report also questions whether such a large strategic stockpile is still needed
With Apache Corporation's recent find in the Permian Basin, it is questionable whether  the SPR makes sense anymore.  It was the product of dealing with OPEC's threats to cut off oil to achieve its political goals, but the US is now the world's largest producer of oil and gas.  Apache's recent find of 75 trillion cubic feet of natural gas and more than 3 billion barrels of oil is more than enough to deal with any cutoff of imported oil.


Popular posts from this blog

Democrats worried about 2018 elections

Iraq says civilian casualties in Mosul caused by ISIS booby trap, not US air strike

Liberal fascists strike against Trump supporters in Berkeley