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U.S. Strategic Petroleum Reserve Falls to Lowest Level Since 1982

182 points · 234 comments · thelastgallon

  1. consensus1 · · focus · HN ↗
    The headline is hiding the fact that this was a fairly modest 400K bbl draw for the week.
    1. hedora · · focus · HN ↗
      The reserve is effectively empty at 250M-300M barrels, and currently sits at 284M. The rapid deceleration to 400K could mean that there’s no quick way to keep withdrawing the remaining reserves.
      1. consensus1 · · focus · HN ↗
        I do not buy that the SPR is effectively empty at 35-42% of capacity
        1. excannuk · · focus · HN ↗
          Read up on the why, I didn't get it either. Its fascinating though, basically the caverns would collapse.

          Also, the bottom of the reserve is mostly sludge.

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