The US is refilling its Strategic Petroleum Reserve (SPR) at a rate of 3 million barrels per month as oil prices decline, but there are physical limits to how much can be stored, according to a top energy official. The SPR currently holds 352 million barrels, less than half of its 2010 peak. While the Biden administration plans to continue refilling the reserve, the current rate of 3 million barrels per month represents the physical limit of capacity. The goal is to ensure a sufficient emergency stockpile for future needs.
The US is refilling its Strategic Petroleum Reserve (SPR) at a rate of 3 million barrels per month as oil prices decline, but there are physical limits to how much can be stored, according to a top energy official. The SPR currently holds 352 million barrels, less than half of its 2010 peak, and the Biden administration aims to continue refilling it as much as possible. However, the current rate of 3 million barrels per month represents the physical limit of the US's capacity to buy back oil.
Spyra has released the SpyraThree, the most expensive model to date at $179, which carries forward the same features as the SpyraTwo, including easy refilling by just sticking the end of the barrel in a bucket of water and pushing the trigger forward. The SpyraThree is promised to fire individual blasts of water up to 32 feet, or closer to 50 feet with the charged-up PowerShot option that uses far more water. It also has three new firing modes, selectable with a three-way switch, that promise to make water gun fights more challenging.
US Energy Secretary Jennifer Granholm said that it will take years to replenish the nation's Strategic Petroleum Reserves, even though oil prices are currently trading at a sweet spot for buyers. The SPR currently holds 372 million barrels of crude oil, down from 638 million at the beginning of 2021, and it will take a few years to replenish it. The Biden Administration sold off 221 million barrels of crude oil from the SPR last year, and the idea was to buy oil to replace what was withdrawn.
