Supposedly left leaning sources are talking about big happenings this week... Anyone else hear anything?
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I’m from Louisiana. Heard on the local news a few days ago (don’t remember the specific number or which reserve bc I was cooking) but supposedly we have around 80 million typically on hand, it was down to 50 last month, I think he said 18 last week and soon to be 15. With nothing being put back in. The problem is that the Biden admin placed all kinds of green energy laws into drilling and production. When you couple that with the increase from royalties, no company is willing to risk the expense. Shell (and others) have shut down a ton of refineries. This has been heading into a really bad place for awhile. People just haven’t realized how bad it’s going to get. It’s been happening.
https://www.npr.org/2022/04/16/1093195479/biden-federal-oil-leases-royalties
https://www.bloomberg.com/news/articles/2022-02-07/refinery-insights-huge-u-s-plant-shutdown-may-spook-market
https://www.theadvocate.com/baton_rouge/news/business/article_fc20a70c-6c80-11eb-915b-1f7fd4b2acd0.html
https://www.nbcnews.com/business/oil-tapping-strategic-petroleum-reserve-lower-gas-prices-guide-rcna22484