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To: thackney

Don’t know the answers to your questions, but it would not surprise me to learn that Obama has announced his intention to strategically sell off some oil from the SPR right now while the price of crude is such a bargain!


12 posted on 12/18/2014 1:33:22 PM PST by Obadiah (If the RINOs engineer the 2016 Primary for their guy, I will sit out the General for my guy.)
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To: Obadiah

I don’t see the need to expand it. I’m okay with topping off the last 5% needed to fill.

A lot of that oil was put in under a “Royalty in kind” program. Instead of getting the 1/6~1/8 payment from the value of oil produced on Federal leases, they accept the oil instead.

Doesn’t make much difference in that situation by price. Oil prices high, you get high value; oil prices low; you were getting low value anyways.


26 posted on 12/18/2014 2:27:05 PM PST by thackney (life is fragile, handle with prayer.)
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