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 The U.S. Department of Energy announced Friday it has approved an exchange from the Strategic Petroleum Reserve, or SPR, with the ExxonMobil Corporation to ease issues that affect crude oil deliveries to the companys Baton Rouge, LA, refinery. U.S. Secretary of Energy Chris Wright sanctioned the move to help keep the regional supply of transportation fuels across Louisiana and the broader Gulf Coast stable. The agreement will provide up to one million barrels of crude oil from the SPR to ExxonMobil to support the restoration of refinery operations that had been diminished due to an offshore supply disruption. The release states that ExxonMobil will eventually return the borrowed oil, as well as an unannounced amount of additional barrels of crude to the SPR at no cost to taxpayers. Protecting their profit margin is a huge cost to consumers though. |
 MjL
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