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Japan to release 15 mil barrels of oil reserves

15 Comments

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15 Comments
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That will only give little effect on current rising price

5 ( +5 / -0 )

Japan had committed earlier to releasing 7.5 million barrels, equivalent to about four days of domestic consumption.

Then why is also subsidizing the oil industry with taxpayer funds also necessary?

LDP never lets an opportunity for pork barrel politics for its cronies go to waste.

2 ( +4 / -2 )

prepare yourself for 300 yen /l at the end of 2022

-3 ( +0 / -3 )

Biden has failed, so Japan won't make a difference. Of course, Japan will retreat from the Sakhalin project under the pressure from the US.

-5 ( +3 / -8 )

ok

now they will release reserves.

day two

reserves will get empty and there will be choice or buy new oil/question is where and for how much/or stop driving cars and take a long walk.

i get no meaning of this "action" at all sorry.completely pointless.

-2 ( +1 / -3 )

So they are releasing 15 million barrels now so they can buy more later at a higher price to fill those stockpiles again. Makes perfect sense. Sooner or later all these countries need to make sure they have enough stock for emergencies or natural disasters, don't they understand that these purchases will drive up prices?

1 ( +2 / -1 )

Oil prices remain high amid concerns over a supply crunch, as the agency has predicted about 2.5 million barrels per day of Russian oil exports could be halted since April due largely to sanctions by the international community.

Could be halted? If this is correct then why the crazy prices ?? Oil companies just price gouging any chance they get!?

3 ( +4 / -1 )

prepare yourself for 300 yen /l at the end of 2022

already prepared, driving my EV at night rates cost me around 3-400yen per 100km,

at todays prices thats around 2L of fuel, does your 2L of fuel get you 100km!?

yes still got my 1 gas car , 1 diesel van but i drive them sparingly or when I go on long rd trips.

It feels great that im not totally at the mercy of foreign oil. charging an EV on Japans electricity means far more of that money stays in Japan, filling your gas cars means most of that money is exported to foreign countries

2 ( +3 / -1 )

Oil is the very primary natural resource Japan lacks of (meaning zero) and depends on the most, and now...this! Eventually this will add more debt to their nation's GDP. Get ready to rack and pack people cause prices are going to insanely rise hurting those who most struggle with barely getting by.

1 ( +1 / -0 )

Great plan! This release should give us time to mine all those extra commodity supplies so that we can fully transition to renewable energy.

-1 ( +0 / -1 )

Errr lower the 50% tax on fuel might be a better long term option.

2 ( +2 / -0 )

The US one year ago was the number one producer of energy and everybody knows what the energy policy is - don’t produce oil and instead buy it from Russia, Venezuela or Iran. Also, plead the gulf states to sell oil.

Two years ago oil had a negative price, meaning, it is more beneficial to give oil for free than to keep it.

Europe has asked Israel for oil as they wean themselves from Russian oil. This is income for Putin that will go to Israel - the hook the will bring Russia and its coalition to the mountains of Israel thus fulfilling the Ezekiel 38 war.

1 ( +1 / -0 )

Will they be releasing it at the current inflated price or at the price they paid for it?

0 ( +0 / -0 )

already prepared, driving my EV at night rates cost me around 3-400yen per 100km,

at todays prices thats around 2L of fuel, does your 2L of fuel get you 100km!?

yes still got my 1 gas car , 1 diesel van but i drive them sparingly or when I go on long rd trips.

Nice , envy you there mate.

0 ( +0 / -0 )

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