To: DinoNavarre who wrote (202298 ) 9/28/2021 1:22:25 AM From: elmatador Respond to Hi Dino,Just to give the size of the reserve of petroleum At recent market prices ($58 a barrel as of March 2021), the US Strategic Petroleum Reserve holds over $14.6 billion in sweet crude and approximately $18.3 billion in sour crude (assuming a $15/barrel discount for sulfur content). Once the US needs, it auction petroleum form its reserve. Like last month: The Energy Department plans to auction off 20 million barrels of crude, twice as much as it offered for sale 3 1/2 months ago. The oil will be delivered during the fourth quarter, when U.S. demand for gasoline and other fuels typically falters and refineries slow down oil purchases while they shut down equipment for repairs and maintenance. Do not let a crisis go to waste Time for Europe and the IEA to create a strategic gas reserve Andy Critchlow Commodity Energy , Natural Gas Topic Europe energy price crisis However, the European Commission thinks otherwise. Energy Commissioner Kadri Simson, speaking on Sept. 22, said "renewables offer the alternative to our dependence on imports of fossil fuels" in response to the tight gas market member states now face. Simson's remarks came after the International Energy Agency implored Russia to increase supplies into the world's third-largest combined economy, without mentioning inventories, or reserves. https://www.spglobal.com/platts/en/market-insights/blogs/natural-gas/092721-natural-gas-reserve-iea-europe
