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10min chapter
Arthur Berman: "BRICS+, Strategic Petroleum Reserve & Metaphysics”
The Great Simplification with Nate Hagens
The Significance of the Strategic Petroleum Reserve
This chapter discusses the history and importance of the Strategic Petroleum Reserve (SPR) in the United States. It covers topics such as the establishment of the SPR in response to the Arab oil embargo, the ban on crude oil exports and its subsequent lifting, and the criticism of releasing oil from the reserve in 2021. It also mentions the process of storing oil in salt caverns and highlights the collaboration between the US and European allies to replenish the reserves and challenge OPEC's influence.
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Discover
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