Crude Stockpiles
Categories: Company Management, Econ, Stocks
We all complain about prices at the gas pump (okay, not the OPEC people), but without the stockpile of petroleum that the government keeps, prices could be a lot higher. With millions of barrels of crude oil, the government hopes to keep prices somewhat stable when all the oil-producing countries decide to put on the screws and decrease production to drive up prices.
Higher levels of crude oil stockpiles can lead to lower prices at the gas pump and for heating oil.
There's also a U.S. Strategic Petroleum Reserve deep in the bowels of Louisiana and Texas, for emergency use. In case there's another national energy crisis.
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Finance: What are petro dollars?8 Views
Finance allah shmoop what are petro dollars Well they're just
money received from the mining of this guy's blood and
guts because yeah oil that's where it comes from yesterday's
stegosaurus is today's refined petroleum and we're talking about a
massive amount of dollars here like you could call them
master dollars or t rex a dollars or try sarah
dollars big wealth in the nineteen seventies came from the
petro era in the same way that it's led today
by amazon facebook and google When oil prices suddenly spiked
in the seventies the people who won well they were
the ones who had massive oceans of it underground We're
looking atyou saudi arabia and you texas and in times
when there is so much money coming into a system
with a shock well the economic driver of that wealth
becomes a kind of currency itself In fact china's made
all kinds of noise about making their currency now and
oil standard upgrading from the old gold silver and bronze
medal of shame standard that western civilization well he used
to hold so dear petro dollars petro wealth were still
feeling it and weigh no that that makes this guy
Happy at least if you're happy and you know it 00:01:18.389 --> [endTime] never moved