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Posts Tagged ‘SPR depletion’

SPR update: down to 396.2 million bbls as of 11/4/2022

Posted in energy policy, tagged , on November 9, 2022| Leave a Comment »

Lowest since April 1984.

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Strategic Petroleum Reserve falls below 400 million barrels (as of 10/28/2022)

Posted in energy policy, tagged , , on November 1, 2022| Leave a Comment »

For the first time since May 18, 1984, when the SPR was being filled, the reserve has fallen below 400 million barrels.

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This will reduce the SPR to <400 million (from 727 million bbls when full) for the first time since May 1984

Posted in energy policy, tagged , on October 19, 2022| Leave a Comment »

As of 10/14/2022, the SPR inventory was 405.1 million barrels.

President Biden will announce on Wednesday that he is releasing 15 million more barrels of fuel from the Strategic Petroleum Reserve, a move aimed at easing gas prices three weeks before voters anxious over rising costs head to the polls as Democrats have been battered by GOP attacks on the economy.

WP

One objective is to support domestic drillers😀😀😀

The administration is also expected to release further details on timing for refilling the stockpile, reflecting its desire to combat rising pump prices while also supporting domestic drillers with future demand for their oil, they said.

Reuters

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Declining SPR nears the 400 million barrel mark

Posted in energy policy, tagged , , on October 13, 2022| Leave a Comment »

SPR “Milestones” update:

  • Largest-ever one year SPR decline – 208 million bbls or 33.7% (10/8/2021 to 10/7/2022)
  • 43.7% decline since 2010
  • 79 consecutive weeks of decline – 4/9/2021 to 10/7/2022
  • Lowest inventory since 6/15/1984

Don’t forget that in the spring of 2020 the previous administration proposed to refill the SPR to maximum capacity of 727 million barrels at $24 per barrel, but Congress failed to authorize the purchase.

Above numbers are end of year volumes except for 2022 which is as of 10/7

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Updated Strategic Petroleum Reserve “milestones”

Posted in energy policy, tagged , , on October 5, 2022| Leave a Comment »

  • Largest-ever one year SPR decline – 203 million bbls or 32.8% (9/24/2021 to 9/30/2022)
  • 42.8% decline since 2010
  • 78 consecutive weeks of decline – 4/9/2021 to 9/30/2022
  • 84 million bbls below the strategically important 500 million barrel threshold which was first breached (on the downside) on 6/24/2022
  • Lowest inventory since 7/6/1984 when the SPR was being filled
Above numbers are end of year volumes except for 2022 which is as of 9/30

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Updated SPR “milestones”

Posted in energy policy, tagged , , on September 7, 2022| Leave a Comment »

The reckless depletion of an important strategic resource continues:

  • Largest-ever one year SPR decline – 179 million bbls or 28.8% (9/3/2021 to 9/2/2022)
  • 39.2% decline since 2010
  • 74 consecutive weeks of decline – 4/9/2021 to 9/2/2022
  • 58 million bbls below the strategically important 500 million barrel threshold which was first breached (on the downside) on 6/24/2022
  • Lowest inventory since 11/23/1984
Above numbers are end of year volumes except for 2022 which is as of 9/2

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