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Strategic Petroleum Reserve uses salt caverns to store crude oil and has the capacity of 797 million barrels [1], which is equivalent to roughly 500-700 larger
by raviolo 6y ago
Strategic Petroleum Reserve uses salt caverns to store crude oil and has the capacity of 797 million barrels [1], which is equivalent to roughly 500-700 larger tankers. Both construction cost and carry cost per barrel are, of course, much lower vs. tankers.
[1] https://en.m.wikipedia.org/wiki/Strategic_Petroleum_Reserve_(United_States) https://en.m.wikipedia.org/wiki/Strategic_Petroleum_Reserve_...
- masonic 6y agoCurrently about 80% full. Seems like a good time to top it off.
- xiphias2 6y agoAutomated wikipeda page is funny: At recent market prices ($-37 a barrel as of April 2020),[5] the SPR holds over $-9.26 billion in sweet crude and approximately $-20.4 billion in sour crude (assuming a $15/barrel discount for sulfur content). This would be only true if the cost of storing would be free.