Joe Biden's decision to release 180 million barrels of oil from the US Strategic Petroleum Reserve - one million barrels per day for 180 days, ending just before the midterm elections which the Democrats will lose in an avalanche - was meant to help lower US gasoline prices "because Putin price hike." Instead, it is heading for Europe.
According to Bloomberg, citing a person familiar with the matter, the Suezmax ship Advantage Spring - sailing for Rotterdam, according to ship-tracking data compiled by Bloomberg - received emergency SPR sweet crude from Energy Transfer’s Nederland oil facility around April 1 for export....
....MUCH MORE
And yes, oil is the most global of commodities, almost fungible, in the same ways that money is fungible, but as the ZH article points out, a) this goo is supposed to be a strategic reserve and b) "In A Move That Stunned Wall Street The Biden Administration Will Probably Be Refilling The Strategic Petroleum Reserve At A $50 Per Barrel LOSS" .
It is not like Roosevelt's homely little sales pitch for Lend-Lease:
"Suppose my neighbor's home catches fire, and I have a length of garden hose four or five hundred feet away. If he can take my garden hose and connect it up with his hydrant, I may help him to put out his fire...I don't say to him before that operation, "Neighbor, my garden hose cost me $15; you have to pay me $15 for it."... I don't want $15--I want my garden hose back after the fire is over. "
Franklin Roosevelt's Press Conference
December 17, 1940
http://docs.fdrlibrary.marist.edu/ODLLPC2.HTML
