<DrumBeat: December 21, 2006 The Oil Drum A Conversation on Energy Issues>

94 comments on Angola Joins OPEC

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Dragonfly41 on December 20, 2006 - 5:39pm Permalink | Subthread | Parent | Comments top
OK, I didn't see a SPR draw at all here:

http://www.eia.doe.gov/pub/oil_gas/petroleum/data_publications/weekly_petroleum_status_report/curren t/txt/wpsr.txt

But, I did notice this endnote and never realized what it could mean:

1 Crude oil stocks in the SPR include non-U.S. stocks held under foreign or commercial storage agreements.

This could literally mean we have tanks or fields reserved just for the US all around the world?

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toilforoil on December 20, 2006 - 9:26pm Permalink | Subthread | Parent | Comments top
No, it means that some SPR capacity is being used to hold the oil of non-US government actors, i.e. corporations or foreign states.  

There is the possibility that some of this is Iraqi oil, being held as collateral for all of the uranium the US is shipping over there, just in case they decide not to pay their bill.

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DelusionaL on December 20, 2006 - 11:05pm Permalink | Subthread | Parent | Comments top
Ah ha!  We are trading oil for depleted uranium dropped on Iraq?  Man, why did it take me so long to figure out "the trade".  
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94 comments on Angola Joins OPEC

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