Another public good to be repaired when this is over.
> The SPR will sit at around 243 million barrels after the drawdown is finished.
> The Energy Department has said at least 70 million barrels must remain in the reserve to safely manage the caverns. Amos Hochstein, a senior energy advisor to President Joe Biden, disputed that figure this week.
> “Don’t believe the people out of the government that are saying the SPR can go to 70 million barrels. It’s nonsense,” Hochstein told CNBC’s “Squawk Box” Thursday. At that level, the reserve would be depleted to “the point of never resurrecting it,” he said.
> Depleting the reserve below 300 million barrels risks damage to the caverns, the former Biden administration official warned in June.
> “I don’t know anyone who believes we can go below 300,” Hochstein told CNBC’s Brian Sullivan at an Atlantic Council event. “I know plenty of people who think we can’t get near 300 because physically you will damage the caverns where the oil is stored.”
Permanent damage? Putin approves.
The U.S. really should stop destroying its military, infrastructure, health and education. His sixth column in this country needs to be removed.
China's known reserves will get them through another year or more if you add all the strategically hidden reserves.
Another public good to be repaired when this is over.
> The SPR will sit at around 243 million barrels after the drawdown is finished.
> The Energy Department has said at least 70 million barrels must remain in the reserve to safely manage the caverns. Amos Hochstein, a senior energy advisor to President Joe Biden, disputed that figure this week.
> “Don’t believe the people out of the government that are saying the SPR can go to 70 million barrels. It’s nonsense,” Hochstein told CNBC’s “Squawk Box” Thursday. At that level, the reserve would be depleted to “the point of never resurrecting it,” he said.
> Depleting the reserve below 300 million barrels risks damage to the caverns, the former Biden administration official warned in June.
> “I don’t know anyone who believes we can go below 300,” Hochstein told CNBC’s Brian Sullivan at an Atlantic Council event. “I know plenty of people who think we can’t get near 300 because physically you will damage the caverns where the oil is stored.”