jwz

Oil collapse (no not that kind)

BLDGBLOG: "The U.S. Strategic Oil Reserve is a series of vast, subterranean salt caverns in four different sites in Louisiana and Texas. Many are enormous -- the average cavern holds about 10mn barrels [...] This...
https://jwz.org/b/yk48

Mar 24 at 2:36amjwz.org
Show threadThe Orange Theme2d ago
@jwz The president can stay irrational longer than the salt caverns can stay structurally sound. Or however that quote goes.
Show threadDr. Juande Santander-Vela2d ago

@jwz it would be hell of a moment for the US oil strategic reserve to go bust…

If it was not for the implications on global economy, I’d almost cheer if it happened…

Show threadWestern Infidels2d ago

@jwz I knew the helium reserve was a physical site. But I had a vague idea the oil reserve was virtualized or outsourced in some way. As if it were just an agreement or arrangement in which oil and refining companies would stockpile more crude than would otherwise be financially efficient.

It would be great to learn about some big American infrastructure thing I hadn't heard of before *without* the immediate follow-up of "...and it's falling apart."

Show threadLanda 2d ago
@WesternInfidels I fear we’re 30 years late for that… :-/ @jwz
Show threadA_Minion2d ago
@jwz I don't see a problem, North slope Alaska has at a minimum of 25 Billion barrels of oil and tho they are only pumping at 200,000+ bpd they have pumped far more a day in the past. We also have our own refinery, tho small can produce far more than it is now. That's not counting off shore or Texas Calif and other wells in the US. It would take far longer then current problems to even begin to tap S.O.R.