Thread

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

182 points · 234 comments · thelastgallon

brightball · 1790651317 · focus · HN ↗
Chart of strategic reserve levels since 1982, for context
<a href="https://en.macromicro.me/charts/41674/us-strategic-petroleum-reserve" rel="nofollow">https://en.macromicro.me/charts/41674/us-strategic-petroleum...
1. pstuart · 1790653268 · focus · HN ↗
  It looks like it started to plummet in April 2022, which was on Biden's watch (disclaimer: I voted for him). It apparently was in response to supply chain shocks spiking oil prices due to the start of the war in Ukraine.
  Having the AI summarize the pros and cons of that action has valid points on both sides. But in his defense, that particular war was not of our doing, unlike the current war with Iran which was initiated impulsively.
  1. Gigachad · 1790653412 · focus · HN ↗
    Trump spoke about this publicly, promising he would "fill the reserves right up to the top", then when in power, didn't do that but instead started a war with Iran while the reserves were still low.
    It's mind boggling how stupid it all is.
    andriy_koval · 1790654924 · focus · HN ↗
    > It's mind boggling how stupid it all is.
    I am not sure its stupid. My conspiracy theory is that Trump works/connected to US oil industry, who took control over Venezuela's oil and now printing record profits since all competition (Hormuz states, Russia) is suffering from infra damage.
    dualvariable · 1790658799 · focus · HN ↗
    Pumping up the oil price also helps Russia. Whatever they do manage to ship is still worth more.
    Also still plausible that Trump is managing to line his own pockets with the profits of that Venezuelan heavy crude being sent to Qatar.

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