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The Department of Energy issued a tender to buy 30 million barrels from the small producers (5,000 or less employees) in order to prioritize them first.
That tender was cancelled because government didn't want to go through with the purchase.
Not much Trump can do about that.
That tender was cancelled because government didn't want to go through with the purchase.
Not much Trump can do about that.
Even if the DoE wanted to buy oil for delivery to any of the five SPR sites, it's still a question of which oil can be delivered, at what volume and price. You have some unique grades of oil that are just in tanks, trains and congested pipelines. Nowhere near a refinery or SPR.
So when you have tankers showing up from abroad to deliver to refineries parked along the coastline, this becomes a whole lot easier for the refinery to take in, even if it costs more than buying oil they just can't get hold of way out in a desert or in the plains.
LOGISTICS.
LOGISTICS.
