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Japan to release hundreds of thousands of kiloliters of reserve oil

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Hundreds of thousands of kiloliters, roflmao

1 ( +10 / -9 )

Unprepared rush carbon neutrality movement is inviting confusions in the world.

-1 ( +10 / -11 )

Like Pres. Biden has done in the U.S. Just a drop in the bucket. Nothing will ever change with Fossil Fuels. The Oil Cartels jack up the price whenever they want to. To hell with the havoc it causes economies and individuals.

16 ( +22 / -6 )

That Shibushi base is amazing.

5 ( +11 / -6 )

Once more the world is shown that the global fossil economy masters are in control, Japanese leaders knew in the 1930's their country lacked sufficient resources to have greater control of its own economy but have done little since then to achieve greater independence and Japan remains dependent on oil states and oil corporations. which is not surprising given many of the same families and corporations running Japan in the 1930's are running it today.

I have to assume Japanese people are content being controlled by the fossils running the world, and must think that breathing lungfuls of exhaust fumes every day causes no health problems.

16 ( +20 / -4 )

For electricity in Japan, just resume idled nuclear power plants, which would give a relief and prompt price adjustment.

The OPEC shouldn't abuse the market. Or they will face a sharp price fall.

1 ( +10 / -9 )

And there you have the truth -

The ministry official says refusing the USA request "is not an option"

And why is Japan being controlled and told what to do by the USA ?

I think we all know the answer to that question.

Oh yes iam sure that lowering the price of crude oil that needs to be refined before its sold as gasoline will really help to curb carbon emissions and global warming.

Make sure you get rid of your oil reserves before you get pushed into using the new energy source that's coming and controlled by the USA.

1 ( +12 / -11 )

So with less than a month after COP26, all pledges of carbon reductions and moving away from fossil fuel are forgotten.

Business as usual. Morally reprehensible.

16 ( +22 / -6 )

And yes its ridiculous to say hundreds of thousands of kiloliters.

Someone needs to check their liquid measure description.

Ridiculous !

7 ( +12 / -5 )

While the Japanese government has been hesitant to tap into its stockpiles as it could deplete reserves on hand for natural disasters, a senior industry ministry official said earlier it was "not an option" to refuse the U.S. request.

Yes as noted shows clearly that Japan is merely at the beck and call of the US when you get down to it.

But this is no surprise, as we know the US created and manipulated the LDP, i.e. releasing Abe's war criminal grandfather Kishi Nobusuke from Sugamo prison, installing him as Prime Minister, and getting him to push through the US-Japan Security Agreement against the wishes of the Japanese people (Kishi was forced to quit as PM a la Park Geun-hye due to the huge demonstrations).

2 ( +8 / -6 )

The faster countries can become self-reliant on their own energy needs, the faster they can break away from OPEC.

15 ( +17 / -2 )

"Political Theater" , it's the 99.9% that pay the price though

5 ( +8 / -3 )

 "not an option" to refuse the U.S. request.

We have to stop with this nonsense, and free ourselves from US occupation.

-2 ( +8 / -10 )

The faster countries can become self-reliant on their own energy needs, the faster they can break away from OPEC.

Maybe, restarting those shuttered nuclear reactors will be a good idea? Intensify investment into green hydrogen energy supply from Australia and Chile?

0 ( +3 / -3 )

Go GREEN!!!!

-1 ( +8 / -9 )

Cartels rule the oil world and hence rule the world. It's not just a case of quickly getting away from fossil fuel reliance though, geopolitical strategies are entrenched here. The correlation between where the major oil reserves are and level of mental crazies who live there is well established. Imagine the west/1st world suddenly pulling the oil rug from under these places? Their "stability" would be gone overnight, the US-UK and EU have been selling military hardware to these regimes for decades, if they were to be overrun by the mentals that they currently barely keep in check, the world would go full Hunger Games pretty dman quickly.....it's a tight rope

3 ( +5 / -2 )

peak oil?

-4 ( +0 / -4 )

I bet prices at the pump still won’t fall for a long while.

7 ( +8 / -1 )

Several millions barrels of crude released from reserves will only last for a few days. Japan uses 3.3 million barrels of oil a day. The same goes for the US. Biden is releasing 50 million barrels of oil, but the US uses about 18 million barrels a day. It will only last for a few days. Not sure what their goals are. Just short term band-aids.

5 ( +6 / -1 )

Will these reserves be sold at the price they were purchased? Or, will they be sold at the inflated rate to turn a larger profit?

3 ( +4 / -1 )

First you have to wake up before you can free yourselves.

-1 ( +4 / -5 )

The price is driven up by futures speculators after a quick gain pure and simple. Just like last time , and the one before that , and that.....

2 ( +3 / -1 )

When the rogue state of the USA say jump, we say, how high?

-1 ( +5 / -6 )

One bomb in the middle of that stupid storage area wouldn't only eliminate the fuel but pollute the area for a decade.

-7 ( +1 / -8 )

How about only those with oil in their land participate in this? Have we asked South America to release some?

I pity those that stocked up and bought their supply.

-2 ( +1 / -3 )

Too bad the pump price will still increase because... Profit.

Nobody cares about the plebe or average Joes in Japan, just care for the big Corps.

5 ( +9 / -4 )

The whole COP26 and the previous 25 were all about shooting for renewable energy and weaning off of this - oil and coal - but here we are. Not getting anywhere are we?

When crude oil prices hit zero and below during the slowdown/stoppage due to Covid, why didn't prices come down at all?

2 ( +3 / -1 )

The US' little pet dog following suit as usual.

1 ( +8 / -7 )

moonbloomToday  08:01 am JST

Yes as noted shows clearly that Japan is merely at the beck and call of the US when you get down to it.

smithinjapanToday  09:59 am JST

The US' little pet dog following suit as usual.

Seems the US is also bullying China, India, South Korea and the United Kingdom into following suit as they are also releasing oil reserves.

0 ( +4 / -4 )

TrevorPeaceToday  09:33 am JST

One bomb in the middle of that stupid storage area wouldn't only eliminate the fuel but pollute the area for a decade.

You may not know this but most major countries have similar "stupid" storage areas for oil products. Try looking around the world on Google Earth, seems you may be surprised; check your own country too.

2 ( +5 / -3 )

A crude announcement

0 ( +5 / -5 )

Drop a bomb (or two) on a country and they become your colony.

"Not an option..."

McDonald's franchise in Tokyo has more self-determination and sovereignty from McDonald's Japan than LDP has from the American 'ambassador '

2 ( +6 / -4 )

another proof that Japan is under heavy influence of uncle Sam

-2 ( +3 / -5 )

US state Japan at it again.

-2 ( +3 / -5 )

So much for national sovereignty.

America keeps its Asian-based unsinkable aircraft carrier (USS Japan) and European-based unsinkable aircraft carrier (USS Great Britain) on a tight leash these days.

-6 ( +3 / -9 )

The high price at the GAS pump is good for GOVs, it generates TAXES. people will suffer from inflation. Japanese do not make strikes. they will pay the consequences

0 ( +3 / -3 )

So, when can we expect to see the pump prices go down?

Hurry up!

I need to fill up this weekend and my car only takes high octane.

-1 ( +4 / -5 )

Tom SanToday  11:07 am JST

buy a bicycle

1 ( +7 / -6 )

So much for national sovereignty.

America keeps its Asian-based unsinkable aircraft carrier (USS Japan) and European-based unsinkable aircraft carrier (USS Great Britain) on a tight leash these days.

All are feeling the crunch of higher petrol prices and working as a team to combat that seems to some like a "lack of sovereignty" because it suits Chinese commentary against the US.

China has no idea what team work is like because it has one move. Do as the CCP says or else.

China posters again badly out of touch.

-2 ( +2 / -4 )

buy a bicycle

I already got one.

It's just that I like my Supra more.

2 ( +5 / -3 )

America keeps its Asian-based unsinkable aircraft carrier (USS Japan) and European-based unsinkable aircraft carrier (USS Great Britain) on a tight leash these days.

Looks like they have company.

China is joining the US and other countries in tapping emergency oil reserves

https://edition.cnn.com/2021/11/23/energy/asia-uk-strategic-oil-reserves/index.html

I guess (USS China) has also set sail.

1 ( +2 / -1 )

For those of you bashing Japan into a pulp, read the article again more closely. There is plenty of weasel wording in there, meaning nothing is exactly as it seems. There will be no sudden flood of gasoline to reduce the price at the pumps here, but coordinated (threatened) action internationally, might have a psychological effect and just flatten or reduce the OPEC cost per barrel over the medium term.

The internal message from the government down is: "Listen people, this is one agenda with which we CAN cooperate internationally without offending any one of our trading partners or allies, so let's do this and not drag our feet too long!"

I filled up the jerry cans with kerosene/paraffin last week, and the car with high octane yesterday. Things will only move up or down a few yen anyway.

2 ( +4 / -2 )

The Master gave an order. The Servant obsequiously obeyed.

Yes, it is good that China finally understands it's place and is releasing reserves as commanded by the US.

-1 ( +1 / -2 )

Japan uses 3,6 million b/d so you do tue maths how much this will impact the price….

-2 ( +0 / -2 )

So much misinformation in this discussion it really boggles the mind. Releasing strategic oil reserves is to be expected when supply issues are prevalent.

OPEC have lowered production to protect their bottom-line, this was due to lower consumption, caused by the lockdowns. AFAIK the volume has not increased since.

As we approach winter and consumption increases, this is to ensure that there are no sharp rises in prices. Prices will not go down but supply will be guaranteed through the coldest months of the year.

-2 ( +1 / -3 )

Rest assurred that the Global Strategic Maple Syrup Reserve is fine

3 ( +3 / -0 )

Essentially a futile gesture by Biden et al which uses up fuel Japan has set aside for emergencies.

[ The coalition Biden assembled — bringing together India, China, Japan, South Korea and the U.K. to tap their strategic oil reserves — is unprecedented, Galimberti said. Altogether, the group could be adding 70 million to 80 million barrels of oil onto the market, he estimates.

“It’s kind of a coalition of oil importers,” he added. “But can they really supplant, or can they really represent a rival to OPEC-plus? The answer is absolutely not.” That’s because the group of importers are using their strategic petroleum reserves, which are limited. On the other hand, OPEC and its allies have oil reserves that can last for decades. “So there is no comparison between the two,” Galimberti said. ]

https://japantoday.com/category/business/explainer-what-is-the-strategic-petroleum-reserve

0 ( +1 / -1 )

Hundreds of thousands of kilolitres .... should have been written "100 million litres"

1 ( +1 / -0 )

gogogoToday  02:25 pm JST

Hundreds of thousands of kilolitres .... should have been written "100 million litres"

No, "Hundreds of thousands of kilolitres" is an inexact quantity whilst "100 million litres" is an exact quantity. The word kilolitre is in increasingly common usage in the oil industry in some parts but I agree, saying "hundreds of thousands of kilolitres" does come over as being wrong. For me "millions of litres" would have been OK or just the "several million barrels" which they used in parenthesis.

2 ( +2 / -0 )

Don't violate the law of volitile oil stockpiling and release too much oil as it could deplete crude oil on hand reserves whilst staying in tandem with other major energy consuming countries prices.

It appears to me that stockpile of oil storage containers location is a recipe for disaster and i would imagine their contingency planning for an oil spill response would not adequate.

-1 ( +0 / -1 )

Using kilos for liquid measurement is most amusing

0 ( +1 / -1 )

Whatever amount they release the producers just decrease production by the same to maintain the price.

so no change.

1 ( +2 / -1 )

Wouldn't "over a hundred million litres" be easier to read? Such a strange headline.

1 ( +1 / -0 )

https://youtube.com/watch?v=Vk8Z4f_U0Mc&feature=share

-2 ( +0 / -2 )

Japan to release hundreds of thousands of kiloliters of reserve oil

Ridiculous. Firstly, it is a drop in the bucket, and secondly the high oil prices and renewed power of OPEC is the result of the Biden admins destruction of US oil production. No amount of reserve oil release changes that.

0 ( +1 / -1 )

can't help but think what a mess it would be if a sizeable tsunami were to hit that islet.....

-1 ( +0 / -1 )

What a mess when a tsunami hits that island!

-1 ( +0 / -1 )

Ridiculous. Firstly, it is a drop in the bucket, and secondly the high oil prices and renewed power of OPEC is the result of the Biden admins destruction of US oil production. No amount of reserve oil release changes that.

total brainwashed BS, US president has very little control of crude oil prices. even if America had huge oversupply do you think US companies would sell it at a discount or sell it to other countries at market price. Supply and demand, oil prices low during the middle of the pandemic when countries were in lockdown and the economy was in the toilet. Countries start opening up and economic activity increased so does demand prices rise. Opec and Russia control world oil prices, even if America was at 200% production it still wouldnt change the market prices.

With so many EVs in the US you really cant feel sorry for Americans complaining about gas prices. EV cost about 20% to run compared to a ICE.

-2 ( +1 / -3 )

should have been written "100 million litres"

100 megaliters

1 ( +1 / -0 )

wtfjapan

total brainwashed BS, US president has very little control of crude oil prices. even if America had huge oversupply do you think US companies would sell it at a discount

Nothing brainwashed there. Bidens stop for new permits for fracking and systematic closure of pipelines has directly affected US oil production. And with US oil production down, we back to dependency on OPEC. Those are facts, even if the talking heads on TV ignore them.

And releasing any oil reserves (which are meant for short term emergency) can not address a systemic problem.

0 ( +2 / -2 )

They are selling oil at current high prices. After the price drops, they’ll buy it back.

0 ( +0 / -0 )

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