Doesn't make sense to me....

[3Ts]

Turns out they all belonged to the same company, decided to have a business meeting here in town. The couple were old family from a large corporation that I won’t mention, and were on the boards at Notre Dame and St. Mary’s. In total, they took many thousands of gallons of fuel, catering, lavatory services, and cleaning of the interiors. Paid for all of it with one credit card transaction. Then all were gone after dinner.

Today, a ZOOM meeting would have sufficed.

MossRoad

That made the trip tax deductable and the company paid for the travel and meal and incindentals.

By the Way! Pilots have to keep current with some amount of flying hours, number of approaches, and some number of touchdowns each month. Might as well take someone somewhere to meet the currency requirements of the pilots.

 

[Snobdds]

Don't worry, hurricane season is just around the corner. Couple that with no SPR because we drained it, we might see some high fall gas prices yet.

 

[riptides]

Don't worry, hurricane season is just around the corner. Couple that with no SPR because we drained it, we might see some high fall gas prices yet.

SPR actually sold high (April, May and June), can now buy low.

 

[Snobdds]

SPR actually sold high (April, May and June), can now buy low.

who did we sell our own SPR to?

 

[Raul-02]

rather than random comments off a web site like this).

Wait a minute there bucko~!!!!!
You don't think that a pack of tractor jockeys with no particular education or experience in the Gasoline industry are capable of providing succinct and accurate diagnosis of an issue they can neither see nor get adequate information about?

Sheesh the nerve~!!!!!

 

[TheMan419]

I'm confused. You understand each pump does not have its own tank in the ground right? There is one bulk tank all the pumps pull from. If it was empty they would all be turned off. Okay so there are two tanks, one for low grade and one for high grade. Mid grade is a mix from both tanks, but the theory still holds.

 

[TheMan419]

who did we sell our own SPR to?

Oil is fungible. So it went into the market but you can never tell who actually bought it and it does not matter. It increased supply. They only sold a small fraction if it. The amount of Oil in the SPR changes frequently. The government leases oil grounds. The royalties are paid in oil that goes in the SPR. When it gets "full" we sell off a portion of it. Try to time it when prices are high to maximize return for the tax payer.

 

[riptides]

who did we sell our own SPR to?

April went like this:
On April 1, 2022, DOE issued the second Notice of Sale for a price-competitive sale of 30 million barrels of SPR crude oil. A total of 16 companies responded to this notice, submitting 126 bids for evaluation. Contracts were awarded to the following 12 companies:

• Atlantic Trading & Marketing, Inc. (2.1 million barrels)
• Chevron USA (1.025 million barrels)
• Equinor Marketing & Trading (0.7 million barrels)
• ExxonMobil Oil Corporation (3.6 million barrels)
• Glencore Ltd. (2.6 million barrels)
• Marathon Petroleum Supply and Trading LLC (2.375 million barrels)
• Mercuria (0.5 million barrels)
• Motiva Enterprises LLC (4.05 million barrels)
• Phillips 66 Company (2.5 million barrels)
• Shell Trading (US) Company (2.75 million barrels)
• Unipec America, Inc. (0.95 million barrels)
• Valero Marketing and Supply Company (6.85 million barrels)
  

 

[MossRoad]

That made the trip tax deductable and the company paid for the travel and meal and incindentals.

By the Way! Pilots have to keep current with some amount of flying hours, number of approaches, and some number of touchdowns each month. Might as well take someone somewhere to meet the currency requirements of the pilots.

7 jets for 8 people. Even back then, it was something like $20-$25K just for the fuel (I can’t remember the exact amount). I don’t care if it’s tax deductible or whatever, just that they used 7 jets to fly in 8 people from around the country. That’s nuts.

 

[MossRoad]

I'm confused. You understand each pump does not have its own tank in the ground right? There is one bulk tank all the pumps pull from. If it was empty they would all be turned off. Okay so there are two tanks, one for low grade and one for high grade. Mid grade is a mix from both tanks, but the theory still holds.

Yep, two tank minimum. More if diesel or ethanol-free is present.