Re. the Strategic Petroleum Reserve sales, who knew…? | Bud's Offshore Energy (BOE)

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Re. the Strategic Petroleum Reserve sales, who knew…?

July 25, 2022 by offshoreenergy

…that the SPR legislation authorized the sale of large volumes of oil for the purpose of easing worldwide prices. Per section 151 of the statute, which was passed following the oil embargoes in the 1970’s, the SPR was intended to diminish the vulnerability of the United States to the effects of a severe energy supply interruption.
…that SPR oil could be sold to all entities including Chinese companies that are also buying oil from Russia, the country being boycotted. How absurd is that? (The confirmation of one such transaction is pasted below.)
…that increased worldwide emissions from the consumption of SPR oil are okay, but emissions from the consumption of our offshore oil and gas are not. Remember that Lease Sale 257 was vacated because BOEM did not analyze the effect that lower prices (from increased US production) would have on GHG emissions. Why are EarthJustice et al silent on the SPR sales? Where is DOE’s environmental assessment of these sales?

Posted in climate, energy policy, Gulf of Mexico, Offshore Energy - General | Tagged China, Lease Sale 257, oil sales, Russia, SPR | Leave a Comment

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