Strategic Petroleum Reserve

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Welcome to episode #21. I just learned about the SPR (Strategic Petroleum Reserve) recently. It's four locations in the USA where crude oil is stored in salt caverns!

Why do we have this? What is it's purpose? When did SPR come into existence? And why not simply store the oil in above ground tanks? All great questions! Listen to get the answers. 

Is this stored supply of oil simply for times when the normal supply of oil to the USA is interrupted? Or is the oil used at times, like capital, and sold off to "raise money" for political budgets? 

And do we keep the oil level topped off at all times in all 4 locations? Two locations are in Texas and two locations are in Louisiana. Each facility has a name: Bryan Mound, Big Hill, West Hackberry, and Bayou Choctaw. 

Here is the link to the book I recommend every American read. Why? Because I believe it is a book that speaks to the "sifting of information" that goes on in the selection of "news" stories. And that thought leads me to the this thought: Are you educated or indoctrinated?

Find the book on Amazon by clicking here https://amzn.to/3dh460R

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I'm not a financial advisor. This podcast is for education/entertainment purposes only. You will need to do your own research and accept responsibility for the results of any money you choose to invest. I love using Schwab.com to buy/sell stocks/ETF's/closed end funds/options. Schwab has a very user friendly app/website and their customer service is excellent. I can easily get to speak to a human being whenever I have questions.