Birdwatch Note Rating
2022-07-10 21:09:04 UTC - SOMEWHAT_HELPFUL
Rated by Participant: 2F09072BCA549A54686F4BF19B1DFEC40ABB0DFBF1A4292911209E0DA8A6D67E
Participant Details
Original Note:
The SPR contains sour crude, to which U.S. refiners do not like to buy due to its high sulfur makeup. That means it would be more costly and work intensive to refine, so these stateside refiners refuse to buy 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