cryptoshi2k21.bitcoin on Nostr: The US just doubled its oil reserves and emptied them in the same year. Trump ...
The US just doubled its oil reserves and emptied them in the same year.
Trump announced a Venezuela deal last night giving the US control of 65 billion barrels. He says it more than doubles American reserves. Probably true.
That’s oil in the ground.
The Strategic Petroleum Reserve is the one you use in an emergency, and it’s at 289.7 million barrels. That’s 40.6% of capacity and the lowest since November 1982.
He released 172 million of it in March when Iran shut Hormuz. The promise was to replace it with 200 million within a year at no cost. Hasn’t happened.
Venezuela won’t fix that quickly either. Rystad says it takes $180 billion over a decade to meaningfully raise production there.
So on paper the US just got twice as much oil. In practice the tank you actually draw from is emptier than it’s been in 44 years.
Published at
2026-08-29 16:26:41 UTCEvent JSON
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"content": "The US just doubled its oil reserves and emptied them in the same year.\n\nTrump announced a Venezuela deal last night giving the US control of 65 billion barrels. He says it more than doubles American reserves. Probably true.\n\nThat’s oil in the ground.\n\nThe Strategic Petroleum Reserve is the one you use in an emergency, and it’s at 289.7 million barrels. That’s 40.6% of capacity and the lowest since November 1982.\n\nHe released 172 million of it in March when Iran shut Hormuz. The promise was to replace it with 200 million within a year at no cost. Hasn’t happened.\n\nVenezuela won’t fix that quickly either. Rystad says it takes $180 billion over a decade to meaningfully raise production there.\n\nSo on paper the US just got twice as much oil. In practice the tank you actually draw from is emptier than it’s been in 44 years. \n\n",
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