Technically it's called an exchange of oil that we deliver today and that we will get oil back plus some interest, if you will, in the future. We will be tapping that today.
More Quotes from Samuel Bodman:
We're going to go through a very challenging time the next six months, is my guess,Samuel Bodman
Just by applying this technique to the oil fields of Western Canada we would see billions of additional barrels of oil and a reduction in CO2 emissions equivalent to pulling more than 200 million cars off the road for a year,
Samuel Bodman
The department continues to review other requests as they come in, ... This administration has been clear that SPR is a national asset that can be used in times of supply distribution, like a natural disaster.
Samuel Bodman
We recognize there are some bad actors that may be to take advantage of the situation,
Samuel Bodman
Many oil producing countries do not operate in a manner consistent with U.S. federal law, but they are not based here.
Samuel Bodman
By and large, they seem to be understanding that we have a situation where there needs to be more oil rather than less oil in the world. There seems to be a commitment to it.
Samuel Bodman
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