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September 4th. The US federal government released 1.5 million barrels of oil reserves to deal with the gasoline shortage in Louisiana. But some analysts question whether this measure will work.
CNN reported on September 2 that Hurricane Ida caused fuel shortages in two-thirds of the gas stations in New Orleans and Baton Rouge, and the US government decided to use strategic oil reserves.
On August 30, a gas station was destroyed by Hurricane Ada in Houma, Louisiana, USA. (Posted by Xinhua News Agency, photo by Nick Wagner)
The U.S. Department of Energy said in a statement that the above-mentioned measures will alleviate regional crude oil transportation problems to "ensure that the region gets fuel as soon as possible."
A spokesperson for the Department of Energy said that the logistic obstruction was mainly due to the closure of the Mississippi River due to the closure of the Mississippi River due to the number of sunken ships affected by "Ada".
Nine refineries in Louisiana are now partially or completely closed. Regulators said on the 2nd that more than 93% of oil production facilities in the Gulf of Mexico were closed. The price of gasoline per gallon (approximately 3.79 liters) has risen by nearly 4 cents in the past week.
At several gas stations with gasoline, people have to wait in line for 8 to 9 hours.
Robert Yoge, head of the Energy Department of the U.S. branch of Mizuho Securities, Japan, said that some gas stations "are in a terrible situation", "there is no electricity, roads are blocked, and they are hit hard."
On May 12, an electronic screen at a Mobil gas station in Brooklyn, New York, showed the price of oil products. (Posted by Xinhua News Agency, photo by Guo Ke)
According to CNN, the way the US government released oil reserves this time is similar to issuing a "loan." The Department of Energy spokesperson said that when Exxon Mobil's Baton Rouge refinery reopens, it will receive 1.5 million barrels of oil reserves to fill the gap. But Exxon Mobil needs to "repay" these oils and their "interest" within 2 to 3 months.
However, some analysts questioned the role of releasing oil reserves. Chad Joswick, head of the Global Energy Analysis Department of Platts Energy Information Corporation, said: "The gasoline shortage is not caused by a shortage of crude oil supply, but because of the shutdown of the refinery... The release of oil reserves cannot alleviate the gasoline shortage."
Jordan said that since crude oil must be refined before it can be turned into gasoline, restoring electricity supply is a top priority.
This is a fuel supply facility of Colonial Pipeline Company, a large fuel transportation pipeline operator, taken in Baltimore, Maryland, U.S. on May 11. (Photo by Xinhua News Agency reporter Liu Jie)
The US Strategic Petroleum Reserve System was established after the oil crisis in the 1970s, and the underground caverns on the Gulf Coast now reserve more than 600 million barrels of crude oil.
This is not the first time the United States has used oil reserves. In August 2017, the US government used emergency oil reserves in response to the increase in gasoline prices caused by Hurricane Harvey. The US government also released oil reserves due to the Libyan war in 2011 and Hurricane Katrina in 2005.
