Stockpile oil

[Brian The Snail]

Thinking about the low oil price ... would it be technically possible to buy LOADS of it and stick it back in the ground for future use? I'm thinking the UK government, not me.

Seems like a good investment to me.

 

[Efour]

As an ex oilfield employee i'm just going to face-palm this one.

 

[Freakbro]

We've just spent millions getting it out of the ground....now you want to spend more to put it back....hmmm....

 

[Cosimo]

 

[jamoor]

Lots of countries do this

https://en.m.wikipedia.org/wiki/Global_strategic_petroleum_reserves

 

[byeo]

Now is a good time to sell oil (stock market wise).

 

[d_brennen]

Lots of countries do this

https://en.m.wikipedia.org/wiki/Global_strategic_petroleum_reserves

Some useful info there for when the zombie apocalypse hits

 

[scorza]

The USA sold a load of their oil stockpile when the price was $110 a barrel, and are probably building it up again right now.

 

[FloppyPoppy]

The USA sold a load of their oil stockpile when the price was $110 a barrel, and are probably building it up again right now.

So that's where isis came from?

 

[Efour]

Boom bust boom bust its the capitalist's way!

 

[Whitewater]

Boom bust boom bust its the capitalist's way!

Gordon Brown was supposed to end all that. There's like a YouTube video and everything.

 

[nutcase]

You don't stockpile you build a buffer, using the oldest up and replace with fresh. You do that as a nation state not an individual though.

 

[Feek]

It would be interesting to roll up to a petrol station with a big tank on the back of the car, stick a pump in there and just spend a couple of hours filling it up! Take it home bury it and use it as your own personal reserve.

 

[NickK]

Yup. UK decided todo this when the last strikes blocked the ports and caused the country to grind to a halt.

Feek - one option is to use old car fuel tanks. Fill with Diesel and ensure you have a water separator on when you extract the diesel.

BP were suggesting mid way through the year the oil prices could return..

 

[Maccapacca]

It would be interesting to roll up to a petrol station with a big tank on the back of the car, stick a pump in there and just spend a couple of hours filling it up! Take it home bury it and use it as your own personal reserve.

My next house will have diesel heating then I'll have a 1000 ltrs of fuel, a hilux, several shotguns and a stockpile of ammunition. I don't need a prepping bag with a couple of water purification tablets and glow sticks.

 

[ci_newman]

It would be interesting to roll up to a petrol station with a big tank on the back of the car, stick a pump in there and just spend a couple of hours filling it up! Take it home bury it and use it as your own personal reserve.

Doesn't petrol degrade the longer it is extracted for, i.e. the RON drops?

 

[Calculus]

Only way you can do it cheaply is use natural caverns like the US has done in the South somewhere.

In Singapore they're building these caverns right now. Got to be expensive but the Sings are smart, they know all about successful investment into their economy and long term planing.

 

[The Funktopus]

Boom bust boom bust its the capitalist's way!

This is terrible beat-boxing.

 

[Burnsy2023]

The USA sold a load of their oil stockpile when the price was $110 a barrel, and are probably building it up again right now.

The US have pretty much exhausted all of their storage.

They pump it into salt mines. It's really quite interesting how they store it: http://energy.gov/fe/services/petroleum-reserves/strategic-petroleum-reserve/spr-storage-sites