Birdwatch Note Rating
2022-07-14 07:21:39 UTC - HELPFUL
Rated by Participant: 4D9CFB0E835FB8E22A1DB864E8DD8B2EB25BE68D0AFB1A66843842F89FED023C
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