Birdwatch Note Rating
2022-07-10 21:09:04 UTC - SOMEWHAT_HELPFUL
Rated by Participant: 40207DE86D2E8AD9FD85726281BA80AEBBDF045DC3DC40942C20C778DB8DF934
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