Birdwatch Note Rating
2022-07-07 13:03:11 UTC - SOMEWHAT_HELPFUL
Rated by Participant: 3A3648B9981B7F3A10D7FC32B2C84101AA063070FB032A514D6CD2A2E5C81A63
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