The strategic oil reserve for the United States was never meant for general use. It was designed for keeping the military running if oil sales were stopped. The whole strategic part of the name.
You are correct about why the strategic oil reserve was created. Sadly, our Biden buddy ignores reasons & does whatever he thinks will look good at the moment, like draining much of the reserve to lower gas prices a few cents. Thanks, Joe.
@@jamesgoode9246 i think you are American, take some thing from your house to your hand, look where it is manufactured, now think that if oil price goes up 30% that things price would go up 50%-300%, you know oil is used for many things.
@@lacai527 -- Regardless of whether you are American or not, take something from your house and determine if oil was used to manufacture it. Then, think what happens to its cost if oil price goes up 30%.
@@jamesgoode9246 But you said it that way Biden did it and it was a bad thing, so was it a smart thing to stabilize the economy? maybe Sleepy Joe did a smart thing
The Brenham Tx Natural Gas explosion happened as a result of a vehicle hitting an above ground section of the pipeline and causing a small leak. As it was late evening a on a chill night the gas, which is heavier than air, stayed low to the ground and drifted along the contours of the area. It eventually reached a single family home where it accumulated overnight until a source of ignition ignited it in the early morning hours. This explosion was not the result of any lapse in safety or engineering fault of the petroleum industry. It was a drunk driver who ran off the road and hit an above ground section of the pipeline. This incident lead the Texas Railroad Commission to require that all above ground pipelines be provided with guard rails or other protection to protect against accidental damage such as this.
oh here we go a know it all repeating the crap they been fed ya cant trust nothing ya government says and when it the usa you know your being screwed for them $$$
Oh it's even worse because, despite what this video says, Biden has released emergency oil reserves multiple times and is currently not rebuilding our reserves. This likely means that after the election - regardless of who wins - the gas prices are going to skyrocket because they are currently being artificially kept down.
Because it is taken off the market, raising the price. Plus the price of oil has zero to do with US politicians accept by selling or filling the reserves. The price is completely controlled by the oil companies and has nothing to do with supply and demand. Besides they are not American companies anymore. This stuff doesn't fit on a bumper sticker so it is hard for some to understand.
Because pumping oil is a skilled trades requiring high paying jobs to pump, refine, and transport. Oil is also traded on a global exchange. Price is set by the global market
The "immigration crisis" in the US cost taxpayers $150 Billion dollars last year. To give perspective, the NFL in the US is an $11 Billion dollar per year industry. Taxpayers are the losers.
We never "give" anything away,we provide assistance,but it's always on paper as a "loan." We gave you help, and we get this when the situation is resolved. Thinking that any country is getting a free pass from us,that's not the way it happens. You should look into it,like,how many countries are in debt to us. All you hear is the media and naysayers saying that we are pissing money away. We never,ever have done something without it being of a long term reward for us. Our "loan" programs are why we are,everywhere.
You know we can easily look at the facts to see you are lying. Of the 700 million barrel reserve the oil in storage never went below about 1/2 of total capacity and since then when the price of oil dropped they have already started refilling it turning a profit.
Why lie. Do you not know we can research the real data in less than 10 seconds? The reserve was only drawn by about half and has been being refilled since the middle of last years, at a profit.
The current administration was required by law to sell oil from the strategic oil reserve because of republican bills passed in 2016 and Donald Trump and his decision in 2018 to sell more oil .Sometimes people should know what they’re talking about.
@@robertanderson5092 correct, and the price of a gallon of "gas" has a huge amount of taxes on it roughly 15% on average. i am sure there are lots VAT on oil and oil products themselves or the production of said products. taxed to death
Plus the hidden tax of regulation regulation regulation. So they can build solar farms in the desert that after a few short years is busted, broken, destroyed and polluting the land killing off the sweet little precious desert life. But don't hear the enviros and save the earthies saying a word lol. They're the same ones who gets a new iphone everytime a new one comes out and drives electric cars that would have to stay operating for near 20 years before they reach carbon neutral and that's as long as they don't need a new battery yet the mega huge strip mines are still there and the earth is destroyed and with a limited supply of the lithium for those batteries. And still no feasible recycling for solar panels and for that matter the windmill blades that has to be replaced every couple of years and don't bring up all the mass bird kills from those blades. So how do like your green energy now..? And to think my gas powered truck reached carbon neutral long before 20 years and it's pollution and carbon output is less than buying the replacement battery pollution and carbon output to mine, extract, process, manufacturing and shipping to the dealership to put in ur electric vehicle... Oops guess people don't know about that. So I'll continue saving the environment, earth and not contributing to child labor and slave labor to get the lithium for those car batteries by driving my gas powered truck. Don't get me wrong I have a battery powered car and I race that little RC screamer for entertainment outside so I don't knock anything over or scratch the furniture. My neighbors kids love it and I let them play with it and run the batteries down and I'll charge them back up and life goes on...
I was about 25 miles away from the 1992 explosion. It shook buildings 70 miles away and was heard 140 miles away. I was outside when I saw and felt the pressure wave as it passed by.
Small town Cushing Oklahoma has more pipelines coming into it than any place on earth. Over 98 million barrels of oil stored in above ground tanks. Our first tanks was built in the 40's and it has been expanded since then and keeps getting bigger every month. For the last 15 to 20 years one to 3 tanks are built almost monthly. Like 400ft round 80 ft tall. They are still building them, to give a Idea in 2016 our farm held 54 million barrels and now in 2024 is at 98 million. sure so I am not where you got the info that they just started building them in 2020 and can only be here 5 years. I have lived here since 98 when we had about 600 tanks the biggest 200 ft in diameter & today it is like 16oo plus tanks and many are at 400 ft wide. When you see the top of the tanks the roof float on the oil and goes up and down in the tank helping to prevent oxygen from mixing with fumes .So when you showed the tank farm in China many of those tanks was empty.. But inject oil or gas into salt caverns is nothing new and has been done in the us over 100 years. So I think your info is off a lot on this video. I have lived here since 98 and I have worked in the tank fields hauling oil but also doing remediation clean up when spills happen as well as every so many years ech tank must be taken off line and drained and pressure washed spotless inside and all the welds xray and inspected before returning them to service. I have cleaned many of these big ass tanks and live here so I know I am right and you are miss informed at best. Like I said Cushing is the largest above ground tanks. Also the tanks have huge earth berms built all around them.. if a tank was to rupture the berm is supposed to hold the oil in a pond built around the tank. Most the old rivet built tanks have been replaced but some have been her 80 plus years now. We are connected by pipelines they go all over America and even into canada alaska and mexico as well as as pipes that can connect to the lines coming in from the gulf or any place in the world. We was about to have another big one fro canada but Biden stopped it day one in office. Also just before covid we was full and we had purchased the oil for $37 a barrel and in 2022 it got as high as $128 a barrel. Joe biden also released millions of barrels of oil out of the reserves and then to replace it it cost us premium prices. Costing us over double to replace.
The oil sold by Biden is not costing billions, because nobody has been buying it as you say. And while you have many nice details, I do not see any serious conflicts between that information and this video.
I think we have used our strategic oil reserves 4 times not 3 You forgot to tell the audience that the current administration sold nearly half of our strategic oil reserves
Don’t forget our refineries are not designed for American crude. Our refineries are designed for heavier and more sour crude than what we generally produce. That is why we sell our crude and import foreign crude. It is not the headline description.
@@andrewday3206If that is true, then why would we have stored it in the first place? It was virtually unusable and wouldn’t have been a strategic resource.
@@scottweisel3640 I never said it was unusable!! I said our refineries are more efficient with heavier crude that is more sour than refineries that are outside the USA A few percentage points makes a huge difference
His wef handlers told him to weaken the nation, if these are empty the military is a bit more vulnerable. The pathetic lie told to the public was that Joe was trying to lower gas ⛽ prices.
@@pk5727 nope. He was as usual doing so poorly at everything he does that ruining a nation is normal for him, he was trying to lower gas ⛽ prices in silly fashion, meanwhile weakening the national defense strategy at the same time. Typical wef puppet 🎭 being played like a fiddle by someone else pulling the strings.
Yea he also destroyed thousands of jobs and families as we all know the "Key Stone". Gas would be about a buck sixty today if Trump would have won. This also means food, heating, well hell everything energy would be half what it is.
Here is a summary of the key points from the video: The video discusses the global strategic oil reserves and underground storage facilities used by countries to maintain emergency supplies of oil. A few key points: - Many countries, including the U.S., Japan, and China, have invested heavily in developing vast underground storage facilities, often in salt caverns, to hold strategic oil reserves. This allows them to access these supplies in times of disruption or crisis. - The U.S. Strategic Petroleum Reserve holds around 700 million barrels, enough to last about a month if needed. However, this is just a small fraction of global oil consumption. - There are concerns about the safety and environmental risks of storing oil and gas in unconventional geological formations, as this can lead to groundwater contamination. Past incidents have shown the potential for leaks, explosions, and other problems. - As oil reserves become depleted, some countries are exploring using these salt caverns to store alternative energy sources like hydrogen, which could play a role in the transition to greener fuels. - Overall, the strategic oil reserves are meant to provide a buffer against supply shocks, but the long-term sustainability and environmental impacts of this approach are still being grappled with.
Great, current, informative, entertaining, and educational. I hit the like button as soon as he mentions coffee, and settle in for the ride. Always excellent content, and never disappoints. But first, coffee..
The GOP voted to remove the 40 year old ban on exporting US produced crude oil in 2015. Our reserves underground are limited, they sold us out. Dems voted against the Bill. Our crude is much more expensive to produce than OPEC’s and limited in supply. If there were deposits we had that were better than shale producers would be tapping them right now.
@johnwalker8417 I bet you'd believe just about anything the news tells ya huh? BTW I said he pulled outta our reserves. And you should've said "Yes but he".... since ya did confirm that he pulled out some out. Also do you know that Hunter B was on the board at barisma Ukrainian energy company making 6 figures (even though he doesnt know the language nor does he know about energy) back when Joe was VP? And that Joe not even having the authority to do so, he threatened them not to give the support aid that congress was giving em unless they fire a prosecutor that was investigating barisma. It's on video. Quid pro quo. Dirty AF corruption. Biden is the real criminal not Trump. Plus Joe likes sniffing kids and people's wives right on camera plenty of footage on that. I'd rather the president talk about females is a sexual way. I feel bad that reality will hit you some time and you'll see that both sides are dirty just in their own ways.
@@gregorymalchuk272 -- Okay, it WAS meant to be used in a national emergency. However, current politicians in DC have been using it to try to influence prices. Feel free to explain how the Biden administration has pulled much oil out of the reserve with little influence on prices.
hydrogen in its current form will never replace gas, for example the UK started creating hydrogen to eventually replace natural gas the only issue is we were creating it in a process called natural gas reforming also called gray hydrogen (most countries use this method including the US), this process involves fossil fuels mainly methane from natural gas with an efficiency conversion rate of 70-85% which means for every $1 of methane used you get back on average just 70 cents in hydrogen meaning hydrogen production is a wasteful production method with a loss of between 15-30% of the initial resource and the natural gas still gets burned like it would in your home boiler or fireplace so whilst the hydrogen is pollution neutral the production method releases the same pollution and is far more wasteful than just burning the natural gas in your home
Most Interesting & Informative! Oil is a big asset for the nation & an important source for the world!So proper process must be maintained for its reservation & suply to prevent environmental hazards & inflation !
It's not supposed to be for temporary price increases due to inflation. It's for emergencies. Our emergency supply isn't for helping an administration with bad energy policies.
I've heard oil can be used to make things. Like, you know, gasoline. So, why is gas so expensive, if the gvmnt is sitting on so much oil they're running out of places to put it?
I have heard some people say they are recycling when they do a oil change on a piece of equipment in their yard and dump the oil back into the ground beneath the machine...returning the oil back to the earth from which it came
Oil seems to be a hot topic, regardless how much we are making use of there are people "concerned" about how it's a finite resource that "should" be in the ground. And no oil can develop should the billions of years pass. Even though there is a way to create oil thanks to certain algae.
I was going to say something about that he got to it towards the end where the last two and a half years we've been pumping out of it... And it still considered strategic because it's to distract people from the horrible job that they're doing
Cant afford it now.. it it was filled cheaply and could be sold off at Price heights to help bring down the price and help pay for storage cost. If that was done, in a situation where the reserves were needed by the public the government could sell it at a medium of cost and storage. That being said no telling if the government even considers storage cost they spend money like it's actually printable! That's how I would would store it so it wasn't just a complete loss for the country and could keep fresher oil in the reserves
Thats why gas is high we pay other countries to refine it it and when their are conflicts in the world or are government is sanctioning certain countries are prices go up
My thoughts are if its moving its selling an if its selling its moving but if its not selling its only moving an that comes at a significant cost without renumeration paying workers an shipping an its not used sigh
Yes we have alot of crude oil but their are alot of different types of crude oil we out source a large portion to refine the oil into bi products gas petroleum ect we do not have any large enuff refineries to mass produce are oil point blank
This commentator says it doesn't want to get politically involved or political notice the information that is included and not included. The reserve has been used the last two times in order to influence pricing for political purposes. If he didn't want to get political then why did he say anything about why it was done.
I see those massive concentrations of oil tanks and because of what is going on between Russia and Ukraine, I see them as incredibly easy targets should some other country want to severely damage their oil infrastructure. Above ground tanks seem very vulnerable.
Saudi Arabia has 4 completely underground storage sites for gasoline, diesel, kerosene and lubrication oil. You can only see them if you know where to look, and even then it's hard. They also have infrared camouflage.
Wow what a lie only 50 years lol. I work in the industry and know for a fact in Alberta our oil sands at the rate they are mining the oil sand it will last 300 years. Once all of that is mined down to the lime stone there is a richer more plentiful layer under the lime stone so that’s even more then 300 years after that. And that is just the oil sands let alone conventional drilling wells.
What on Earth makes you think we can never run out of oil? There's only so much in the ground. There's no process creating new oil, it was all made millions of years ago under conditions that will never exist again (hopefully, because we would be super dead). I almost can't believe you wouldn't know that.
The strategic oil reserve for the United States was never meant for general use. It was designed for keeping the military running if oil sales were stopped. The whole strategic part of the name.
You are correct about why the strategic oil reserve was created.
Sadly, our Biden buddy ignores reasons & does whatever he thinks will look good at the moment,
like draining much of the reserve to lower gas prices a few cents. Thanks, Joe.
@@jamesgoode9246 i think you are American, take some thing from your house to your hand, look where it is manufactured, now think that if oil price goes up 30% that things price would go up 50%-300%, you know oil is used for many things.
@@lacai527 -- Regardless of whether you are American or not, take something from your house and determine if oil was used to manufacture it. Then, think what happens to its cost if oil price goes up 30%.
@@jamesgoode9246 But you said it that way Biden did it and it was a bad thing, so was it a smart thing to stabilize the economy? maybe Sleepy Joe did a smart thing
Biden did an excellent job using the strategic oil reserve to prevent Russia and China from weaponizing the price of oil
The Brenham Tx Natural Gas explosion happened as a result of a vehicle hitting an above ground section of the pipeline and causing a small leak. As it was late evening a on a chill night the gas, which is heavier than air, stayed low to the ground and drifted along the contours of the area. It eventually reached a single family home where it accumulated overnight until a source of ignition ignited it in the early morning hours. This explosion was not the result of any lapse in safety or engineering fault of the petroleum industry. It was a drunk driver who ran off the road and hit an above ground section of the pipeline. This incident lead the Texas Railroad Commission to require that all above ground pipelines be provided with guard rails or other protection to protect against accidental damage such as this.
we felt the shock wave/explosion 50-75miles near Dayton Tx
oh here we go a know it all repeating the crap they been fed ya cant trust nothing ya government says and when it the usa you know your being screwed for them $$$
Because if you do that, it might turn back into a dinosaur 🦕? 😆
🤣🤣🤣🤣
When asked if I want a bag for 1-3 items I say "No, save a Dinosaur."
@@samfrancisco8095 - good looking out.
Not all heroes wear capes. @@samfrancisco8095
Oil doesn't only come from the dinosaurs. Plant leftovers, animals and humans contribute to the making of oil over time
if we have too much oil why are the gas prices so high?
Oh it's even worse because, despite what this video says, Biden has released emergency oil reserves multiple times and is currently not rebuilding our reserves. This likely means that after the election - regardless of who wins - the gas prices are going to skyrocket because they are currently being artificially kept down.
Because it is taken off the market, raising the price. Plus the price of oil has zero to do with US politicians accept by selling or filling the reserves. The price is completely controlled by the oil companies and has nothing to do with supply and demand. Besides they are not American companies anymore. This stuff doesn't fit on a bumper sticker so it is hard for some to understand.
Because pumping oil is a skilled trades requiring high paying jobs to pump, refine, and transport. Oil is also traded on a global exchange. Price is set by the global market
I assume the political response is it would be higher if there wasn't storage. It's a buffer which keeps prices low
Because we don’t use our own oil,
6:15 - 200 Mil is absolutely nothing compared to what we've literally been giving away to other foreign countries.
The "immigration crisis" in the US cost taxpayers $150 Billion dollars last year. To give perspective, the NFL in the US is an $11 Billion dollar per year industry.
Taxpayers are the losers.
We never "give" anything away,we provide assistance,but it's always on paper as a "loan."
We gave you help, and we get this when the situation is resolved.
Thinking that any country is getting a free pass from us,that's not the way it happens.
You should look into it,like,how many countries are in debt to us.
All you hear is the media and naysayers saying that we are pissing money away.
We never,ever have done something without it being of a long term reward for us.
Our "loan" programs are why we are,everywhere.
"has only been used 3 times" other than what the current admin did as they drained it to less than a third
They made a profit after refilling at a lower cost.
You know we can easily look at the facts to see you are lying. Of the 700 million barrel reserve the oil in storage never went below about 1/2 of total capacity and since then when the price of oil dropped they have already started refilling it turning a profit.
Why lie. Do you not know we can research the real data in less than 10 seconds? The reserve was only drawn by about half and has been being refilled since the middle of last years, at a profit.
The current administration was required by law to sell oil from the strategic oil reserve because of republican bills passed in 2016 and Donald Trump and his decision in 2018 to sell more oil .Sometimes people should know what they’re talking about.
@@robertsprague8448Biden didn't refill it at a lower cost numb nuts..in fact it never has been refilled yet and it would cost a shit ton more
surplus oil is supposed to reduce prices!
Crude oil cost is a small contributor to the price of petroleum products
@@robertanderson5092 correct, and the price of a gallon of "gas" has a huge amount of taxes on it roughly 15% on average. i am sure there are lots VAT on oil and oil products themselves or the production of said products. taxed to death
Plus the hidden tax of regulation regulation regulation. So they can build solar farms in the desert that after a few short years is busted, broken, destroyed and polluting the land killing off the sweet little precious desert life. But don't hear the enviros and save the earthies saying a word lol.
They're the same ones who gets a new iphone everytime a new one comes out and drives electric cars that would have to stay operating for near 20 years before they reach carbon neutral and that's as long as they don't need a new battery yet the mega huge strip mines are still there and the earth is destroyed and with a limited supply of the lithium for those batteries. And still no feasible recycling for solar panels and for that matter the windmill blades that has to be replaced every couple of years and don't bring up all the mass bird kills from those blades.
So how do like your green energy now..? And to think my gas powered truck reached carbon neutral long before 20 years and it's pollution and carbon output is less than buying the replacement battery pollution and carbon output to mine, extract, process, manufacturing and shipping to the dealership to put in ur electric vehicle...
Oops guess people don't know about that. So I'll continue saving the environment, earth and not contributing to child labor and slave labor to get the lithium for those car batteries by driving my gas powered truck.
Don't get me wrong I have a battery powered car and I race that little RC screamer for entertainment outside so I don't knock anything over or scratch the furniture. My neighbors kids love it and I let them play with it and run the batteries down and I'll charge them back up and life goes on...
I was about 25 miles away from the 1992 explosion. It shook buildings 70 miles away and was heard 140 miles away. I was outside when I saw and felt the pressure wave as it passed by.
The 'Clampets' were the first to LITERALLY bury their oil (What they thought was their second oil find but turned out to be their first)
You think they haven't been accessed since 2011?
Sheesh!
Our reserves got sold .
no there up ya bum along with all the other propaganda lies
They have been doing this since Regan was in office
Small town Cushing Oklahoma has more pipelines coming into it than any place on earth. Over 98 million barrels of oil stored in above ground tanks. Our first tanks was built in the 40's and it has been expanded since then and keeps getting bigger every month. For the last 15 to 20 years one to 3 tanks are built almost monthly. Like 400ft round 80 ft tall. They are still building them, to give a Idea in 2016 our farm held 54 million barrels and now in 2024 is at 98 million. sure so I am not where you got the info that they just started building them in 2020 and can only be here 5 years. I have lived here since 98 when we had about 600 tanks the biggest 200 ft in diameter & today it is like 16oo plus tanks and many are at 400 ft wide. When you see the top of the tanks the roof float on the oil and goes up and down in the tank helping to prevent oxygen from mixing with fumes .So when you showed the tank farm in China many of those tanks was empty.. But inject oil or gas into salt caverns is nothing new and has been done in the us over 100 years. So I think your info is off a lot on this video. I have lived here since 98 and I have worked in the tank fields hauling oil but also doing remediation clean up when spills happen as well as every so many years ech tank must be taken off line and drained and pressure washed spotless inside and all the welds xray and inspected before returning them to service. I have cleaned many of these big ass tanks and live here so I know I am right and you are miss informed at best. Like I said Cushing is the largest above ground tanks. Also the tanks have huge earth berms built all around them.. if a tank was to rupture the berm is supposed to hold the oil in a pond built around the tank. Most the old rivet built tanks have been replaced but some have been her 80 plus years now. We are connected by pipelines they go all over America and even into canada alaska and mexico as well as as pipes that can connect to the lines coming in from the gulf or any place in the world. We was about to have another big one fro canada but Biden stopped it day one in office. Also just before covid we was full and we had purchased the oil for $37 a barrel and in 2022 it got as high as $128 a barrel. Joe biden also released millions of barrels of oil out of the reserves and then to replace it it cost us premium prices. Costing us over double to replace.
Thank you for the information. 😊👍
The oil sold by Biden is not costing billions, because nobody has been buying it as you say. And while you have many nice details, I do not see any serious conflicts between that information and this video.
South africa is storing oil the same way since the 70's
U.S took a loan and is paying the Earth back lol
Oil is typically measured by volume in barrels (BBL's)
I think we have used our strategic oil reserves 4 times not 3
You forgot to tell the audience that the current administration sold nearly half of our strategic oil reserves
Don’t forget our refineries are not designed for American crude. Our refineries are designed for heavier and more sour crude than what we generally produce. That is why we sell our crude and import foreign crude. It is not the headline description.
@@andrewday3206If that is true, then why would we have stored it in the first place? It was virtually unusable and wouldn’t have been a strategic resource.
@@scottweisel3640
I never said it was unusable!!
I said our refineries are more efficient with heavier crude that is more sour than refineries that are outside the USA
A few percentage points makes a huge difference
Command & Conquer e.g. games: As long as possible take the resources most far away - in case of issues you still have your local ones...
@@scottweisel3640 we store it to influence markets and to profit by selling high, and buying low.... EXACTLY what happened here... LOL
What is amazing is that the cost went up, instead of down with a depression of use
This just proves there's no shortage and the price is artifically maruipulated to strengthen control of the masses
I thought joe Biden got rid of our strategic reserve to “lower gas prices”
His wef handlers told him to weaken the nation, if these are empty the military is a bit more vulnerable. The pathetic lie told to the public was that Joe was trying to lower gas ⛽ prices.
Only half of it. He mentions it towards the end of the video as if it doesn't count as one of the three / four times we've pulled out of it
There you go "thinking"
@@pk5727 nope. He was as usual doing so poorly at everything he does that ruining a nation is normal for him, he was trying to lower gas ⛽ prices in silly fashion, meanwhile weakening the national defense strategy at the same time. Typical wef puppet 🎭 being played like a fiddle by someone else pulling the strings.
Yea he also destroyed thousands of jobs and families as we all know the "Key Stone". Gas would be about a buck sixty today if Trump would have won. This also means food, heating, well hell everything energy would be half what it is.
One of my favorite narrators. Almost sounds like a Muppet lol
TLDR even the best underground storage is barely safe.
My dad had a gas station in the 70's before the oil embargo = one gallon of Regular Gasoline was just 35 cents!
And minimum wage was $1.65. go figure.
It was 15-17c in the 50s.
Figuring that gasoline is very cheap now, or Trump's billionaires are not paying fair wages today. Which do you think?
Congratulations on reaching 3M, bro ! 🎊🎉
Here is a summary of the key points from the video:
The video discusses the global strategic oil reserves and underground storage facilities used by countries to maintain emergency supplies of oil. A few key points:
- Many countries, including the U.S., Japan, and China, have invested heavily in developing vast underground storage facilities, often in salt caverns, to hold strategic oil reserves. This allows them to access these supplies in times of disruption or crisis.
- The U.S. Strategic Petroleum Reserve holds around 700 million barrels, enough to last about a month if needed. However, this is just a small fraction of global oil consumption.
- There are concerns about the safety and environmental risks of storing oil and gas in unconventional geological formations, as this can lead to groundwater contamination. Past incidents have shown the potential for leaks, explosions, and other problems.
- As oil reserves become depleted, some countries are exploring using these salt caverns to store alternative energy sources like hydrogen, which could play a role in the transition to greener fuels.
- Overall, the strategic oil reserves are meant to provide a buffer against supply shocks, but the long-term sustainability and environmental impacts of this approach are still being grappled with.
Shut up
Great, current, informative, entertaining, and educational.
I hit the like button as soon as he mentions coffee, and settle in for the ride.
Always excellent content, and never disappoints.
But first, coffee..
I wish more people understood the reserve its not only about millitary but for fighting the middleeast and their momopoly on oil.
Biden pulled outta our reserves 😮
No, he sold high and replaced at lower prices.
The GOP voted to remove the 40 year old ban on exporting US produced crude oil in 2015. Our reserves underground are limited, they sold us out. Dems voted against the Bill. Our crude is much more expensive to produce than OPEC’s and limited in supply. If there were deposits we had that were better than shale producers would be tapping them right now.
@@johnwalker8417 sold to China.. And bought it from???
@johnwalker8417 I bet you'd believe just about anything the news tells ya huh? BTW I said he pulled outta our reserves. And you should've said "Yes but he".... since ya did confirm that he pulled out some out. Also do you know that Hunter B was on the board at barisma Ukrainian energy company making 6 figures (even though he doesnt know the language nor does he know about energy) back when Joe was VP? And that Joe not even having the authority to do so, he threatened them not to give the support aid that congress was giving em unless they fire a prosecutor that was investigating barisma. It's on video. Quid pro quo. Dirty AF corruption. Biden is the real criminal not Trump. Plus Joe likes sniffing kids and people's wives right on camera plenty of footage on that. I'd rather the president talk about females is a sexual way. I feel bad that reality will hit you some time and you'll see that both sides are dirty just in their own ways.
Nordstream pipeline! 🫣
14:06 Hydrogen!?... The highly flammable downright explosive gas, Hydrogen!? Okay 🤣😂🤣
Their storing it instead of putting it on the market so they can keep the prices up
No, they're storing it to keep prices from going up.
Having a reserve supply helps prevent a shortage.
A shortage would greatly increase the price.
The SPR was never meant for price speculation. It was meant to have oil left to rebuild after a nuclear war.
@@gregorymalchuk272 -- Okay, it WAS meant to be used in a national emergency.
However, current politicians in DC have been using it to try to influence prices.
Feel free to explain how the Biden administration has pulled much oil out of the reserve with little influence on prices.
@@gregorymalchuk272Actually that really is funny 😅 👍
@@jamesgoode9246👍
lol, love the reminders they make me giggle every time. I do the clicking before the video starts but I still giggle over it.
hydrogen in its current form will never replace gas, for example the UK started creating hydrogen to eventually replace natural gas the only issue is we were creating it in a process called natural gas reforming also called gray hydrogen (most countries use this method including the US), this process involves fossil fuels mainly methane from natural gas with an efficiency conversion rate of 70-85% which means for every $1 of methane used you get back on average just 70 cents in hydrogen meaning hydrogen production is a wasteful production method with a loss of between 15-30% of the initial resource and the natural gas still gets burned like it would in your home boiler or fireplace so whilst the hydrogen is pollution neutral the production method releases the same pollution and is far more wasteful than just burning the natural gas in your home
It'd be nice if you could add converted units on the screen for non American people, especially for miles/square miles/gallons
Most Interesting & Informative!
Oil is a big asset for the nation & an important source for the world!So proper process must be maintained for its reservation & suply to prevent environmental hazards & inflation !
It's not supposed to be for temporary price increases due to inflation. It's for emergencies.
Our emergency supply isn't for helping an administration with bad energy policies.
I've heard oil can be used to make things. Like, you know, gasoline. So, why is gas so expensive, if the gvmnt is sitting on so much oil they're running out of places to put it?
Our refineries are set up to refine foreign oil ,domestic oil is mostly used for other uses. New refineries are extremely expensive.
Basically because people buy it. They like their big SUVs.
Best idea I've heard all year
you forgot the most recent reserves the president gave away...
Wtf you talking about ,u goof, Joe???
Why don't you refreshen us, wtf you talkingabout ???The pos Biden???
The Usurper in Chief
Biden did not give the oil away...he sold it to China (Big Guy got his 10% cut)
Why not just lower fuel prices for Americans?
Because greed is rampant no mater political affiliation.
Our oil isn’t good for making gas.
Well you idiots just voted in the party for the 1% so there is 0% chance of anything like that happening.
I have heard some people say they are recycling when they do a oil change on a piece of equipment in their yard and dump the oil back into the ground beneath the machine...returning the oil back to the earth from which it came
After it passes through our water supply.
Maybe it will go back to Texas.
1992 7.75% and zero closing costs was a good deal on a heloc. 11:50
It’s America, we don’t have to speak in metric terms !
Ya we do, but those mtfrs had better be able to work it both ways!!! I can, AN I AM CANADIAN
That coffee looks widely underextracted 😐
The way he said Visakhapatnam killed me.
Smart move. Buy in cheap. Create stock while other countries have nothing.
Thats a cost to pump oil back into the ground thats crazy
did we dump them or give them away to another country? theses lies need to stop. daddy govt has some explaining to do. 🍻
Oil seems to be a hot topic, regardless how much we are making use of there are people "concerned" about how it's a finite resource that "should" be in the ground. And no oil can develop should the billions of years pass. Even though there is a way to create oil thanks to certain algae.
Modern society has a serious fossil fuel addiction.
So why are the prices so damn high
Current usage of the strategic reserve?
Biden gave it all away to reduce fuel prices....it didn't work, like all his shit
I was going to say something about that he got to it towards the end where the last two and a half years we've been pumping out of it... And it still considered strategic because it's to distract people from the horrible job that they're doing
@@mccarterjgSo the horrible job is keeping gasoline prices low? Interesting.
Oil is the lube of our planets joints we definitely should put it back!
This is sounding like propaganda 🤮🤮
Oil will never run out really :(
An that's great
Thank god
I love American oil and gas.
@@a-person_0 YAY!!! DRILL BABY DRILL
@@MarkO-im7lc so do i American oil is very tasty and it has so many more nutrients
storing hydrogen underground??? imagine that explosion one day. lol
It’s another storage tank.. 😂😂😂
The USA needs to restore the oil reserves first, the government started selling our reserves. So, it needs to be restocked!
Cant afford it now.. it it was filled cheaply and could be sold off at Price heights to help bring down the price and help pay for storage cost. If that was done, in a situation where the reserves were needed by the public the government could sell it at a medium of cost and storage. That being said no telling if the government even considers storage cost they spend money like it's actually printable! That's how I would would store it so it wasn't just a complete loss for the country and could keep fresher oil in the reserves
When you see Canada's oil reserves remember that is just the United States oil reserves
I don't remember the price of fuel dropping during the pandemic with all the supposed surplus we were supposed to have.
Yeah. A lot of people have had massive memory dumps since covid. They even forgot how bad Trump was. Some even forgot he was already president.
So basically if war breaks out those are the first targets😂😂😂😂😢
Oil is th3 earth's blood .
Price fixing oil should be illegal and enforced... right now it isn't enforced.
They definitely could’ve asked me. I would’ve let them flood my backyard with the crap 😂
Thats why gas is high we pay other countries to refine it it and when their are conflicts in the world or are government is sanctioning certain countries are prices go up
My thoughts are if its moving its selling an if its selling its moving but if its not selling its only moving an that comes at a significant cost without renumeration paying workers an shipping an its not used sigh
5:50. MERACA!
Of course America
They will do anything to keep the money flowing.
A cup of coffee ☕
Yes we have alot of crude oil but their are alot of different types of crude oil we out source a large portion to refine the oil into bi products gas petroleum ect we do not have any large enuff refineries to mass produce are oil point blank
Here's to Seth Rogan for doing the voice over.
Will the poisoned water only affect TX?
Soooo stupid
If we are lucky .... it won't grow any bigger.
Hi Steve, how are you? Still love those eyes! LOL Thanks for the interesting information! Love these vids! Catch you next time!
Down bad
@@jumpobumpoit’s some obsession with Steve serial killer vybes
im sorry bro i should have subscribed years ago just got so into your videos forgot to hit that button
I mean that's where the oil came from originally
Should have built more tanks to hold it all.
You omitted the latest reserve tap by sleepy Joe.
The strategic oil reserves where created way before 2020. Trump just happened to be the first to drain it for political reasons.
Mmmm oil
Oil companies are just playing the market making zillions each year.
Because it’s a mineral
Consequences *are* politics -_-
Finnish did it first. There is large cave for crude oil.
This commentator says it doesn't want to get politically involved or political notice the information that is included and not included. The reserve has been used the last two times in order to influence pricing for political purposes. If he didn't want to get political then why did he say anything about why it was done.
I see those massive concentrations of oil tanks and because of what is going on between Russia and Ukraine, I see them as incredibly easy targets should some other country want to severely damage their oil infrastructure. Above ground tanks seem very vulnerable.
Spoken by a great ,military strategist. Lol
Saudi Arabia has 4 completely underground storage sites for gasoline, diesel, kerosene and lubrication oil. You can only see them if you know where to look, and even then it's hard. They also have infrared camouflage.
I knew Earth didn't have incident resource
TRUMP2024
It so they can say it’s my oil that’s why we put it in storage tank and caverns that we own!
Wow what a lie only 50 years lol. I work in the industry and know for a fact in Alberta our oil sands at the rate they are mining the oil sand it will last 300 years. Once all of that is mined down to the lime stone there is a richer more plentiful layer under the lime stone so that’s even more then 300 years after that. And that is just the oil sands let alone conventional drilling wells.
Why does your coffee look gross and watery? Serious question
I really feel like this video is sharing classified information. Dude did some research and a half.
Give me a break, nothing here is new,you just been under a rock,hiding
This is like dating your ex again the cost the issues an the resolve what a waste some will never learn
But when I pour oil into the ground it’s a fine 😂
see you...😀🤗
Seems like a Massive amount of wasted time, labor and Money. But that's Capitalism and Corporate Socialism.
What better place to contain our oil reserves?
KEPLER 🗿
This is no secret
15 minute post upload already watched
What if oil was fuel for our planet to keep turning instead of for your car?😮
Run the car, that is so stupid of an ,analogy
What on Earth makes you think we can never run out of oil? There's only so much in the ground. There's no process creating new oil, it was all made millions of years ago under conditions that will never exist again (hopefully, because we would be super dead). I almost can't believe you wouldn't know that.
I put my used car oil back in the ground for years
😬
Got your own Family Strategic Reserve right under your driveway, eh? 😂
15 minutes of oil
We got oil for eons, stundo