Birdwatch Note Rating
2022-07-08 10:24:01 UTC - HELPFUL
Rated by Participant: 2211346F266DEB22A2282C71C272652519906C7DC813F7E6E67363AC78FE1DB9
Participant Details
Original Note:
Due to rising processing and refining costs in the U.S., refiners stateside do not like to use this sour crude (high sulfur concentration) from the SPR, to the point where they stopped buying it. Overseas markets are one of the few buyers right now. https://www.bloomberg.com/news/articles/2021-11-23/biden-releases-sour-crude-that-s-out-of-favor-with-u-s-refiners#xj4y7vzkg https://www.washingtonpost.com/business/energy/the-us-is-depleting-its-strategic-petroleum-reserve-faster-than-it-looks/2022/06/17/3b899c40-ee04-11ec-9f90-79df1fb28296_story.html https://www.investopedia.com/terms/s/sourcrude.asp
All Note Details