You're right, Kit. When the SPR was created starting in 1974, the US was importing 35% of its crude oil consumption and that percentage increased to 60% in 2005. While the US is now the largest crude producer in the world, we are still a net importer because so many of our refineries depend on heavy sour crude oil and the US shales produce light sweet crude. Therefore, our national security is still dependent on those imports of heavy sour crude, so the SPR is still important, a fact that DOE and the administration is ignoring. I should add that the Keystone XL pipeline would have solved that problem by providing ample supplies of Canadian heavy crude oil but Biden killed it on day one of his presidency.
Excellent article, very important subject.
When SPR IS refilled, note that some fraction is likely Putin's Oil from oil laundering schemes.
https://tucoschild.substack.com/p/redux-usa-strategic-petroleum-reserve
Thanks, Tuco's Child. No doubt there will some laundered crude oil in the SPR refill. Good article you posted. Ed
Appreciate it Ed!
I am a retired chemist, inorganic/organic/products, so always interested in energy flow.
Keep up the good work.
Best,
TC
Thanks, TC. I've added Tuco's Child to my recommended list. I would appreciate being on your recommended list as well. Ed
You're right, Kit. When the SPR was created starting in 1974, the US was importing 35% of its crude oil consumption and that percentage increased to 60% in 2005. While the US is now the largest crude producer in the world, we are still a net importer because so many of our refineries depend on heavy sour crude oil and the US shales produce light sweet crude. Therefore, our national security is still dependent on those imports of heavy sour crude, so the SPR is still important, a fact that DOE and the administration is ignoring. I should add that the Keystone XL pipeline would have solved that problem by providing ample supplies of Canadian heavy crude oil but Biden killed it on day one of his presidency.