Bill’s Commentary:
“The problem is this: they cannot print oil and drop it off where needed. By the way, how much will be left in the SPR… if more is needed in another emergency?”
U.S. To Begin 86-Million-Barrel SPR Dump Next Week Via Exchange Program
The speed of the energy shock rippling out from the U.S.-Iran conflict in the Middle East and the near-paralysis of the Strait of Hormuz forced the 32-member IEA last week to approve a 400-million-barrel release from Strategic Petroleum Reserves to help cushion the blow to the global economy. The bulk of that supply will come from the U.S., with the Trump administration preparing a request to exchange 86 million barrels of crude oil as soon as next Wednesday.
The planned U.S. SPR release of 86 million barrels of crude, part of a broader 172 million-barrel U.S. release and part of the IEA’s “historic” 400-million-barrel emergency release action plan across 32 nations to shield economies from the worst energy shock ever to hit the world, has been altered by the end of the week.
The latest from USA Watchdog –
Bill’s Commentary:
“I guess we will know who is correct in the short term soon enough? I see Iran without an air force nor navy, that is not “winning.” Long term (maybe measured in only months?) the $ is toast. As I posted, this military operation is not going over well with the BRICS nations (and new pledges). This is incredibly dollar bearish no matter what the military outcome.”
The latest from Erik –
BillHolter.com 
Bill, Why is the SPR being touched? We get zero oil from Iran. Whereas China imports about ~60% of its oil from Iran. Please correct me if I’m wrong but I have read and heard this from multiple sources. If I am correct why are our gas prices going up?
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