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Just When We Thought The Bear Was Dead 4/21/20


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Not all.

Sumbitch. I can't edit the title. 

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Jimi,

I’ve never looked into this before. It looks like the Interior Department sells all the oil to the Department of Energy for the Strategic Petroleum Reserve. These are via leases of US public lands and tribal lands. They collect fees on the leases and distribute payments back to the states and tribes. I haven’t read enough to understand how these leases work in the mechanism for price discovery and if it could involve futures. The DOE said it was considering leasing SPR space for a year to private companies for storage as well. I understand nothing about natural resources:

https://revenuedata.doi.gov/

https://www.doi.gov/pressreleases/oil-production-department-interior-managed-leases-surpasses-1-billion-barrels-first

https://www.energy.gov/fe/services/petroleum-reserves/strategic-petroleum-reserve/strategic-petroleum-reserve-0

https://www.rollcall.com/2020/04/14/doe-negotiating-with-oil-companies-to-store-excess-supplies/

 

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