Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

Environment & Energy

Dulcinea

(10,417 posts) Mon Jun 15, 2026, 06:57 AM Yesterday

Oil executives send a blunt message to Americans on gas prices [View all]

(Yahoo Finance) "You're hitting tank bottom." That is the phrase one oil industry executive used to describe the state of global petroleum inventories, in a conversation the executive said had already been shared with senior officials in Washington. The same person gave it an unusually specific deadline: mid-to-late June, according to E&E News.

The White House's response was immediate and direct.

"Politico's anonymous sources are wrong," a White House official said, while an Energy Department official added there have been no such discussions about inventory levels, according to E&E News.

Four oil executives told Politico the opposite is true, and at least two of them have now made similar warnings on the record.

https://finance.yahoo.com/sectors/energy/articles/oil-executives-send-blunt-message-200700286.html

27 replies

= new reply since forum marked as read

Highlight:

Oil executives send a blunt message to Americans on gas prices [View all] Dulcinea Yesterday OP

Probably one reason Trump agreed to an Iran ceasefire. Lonestarblue Yesterday #1

Yes, assuming the deal is even finalized and signed, which I am doubtful about LymphocyteLover Yesterday #13

Vance says deal has been 'digitally' signed OKIsItJustMe Yesterday #20

isn't it an MOU, not a final deal? LymphocyteLover Yesterday #22

What to know about the deal to end the Iran war OKIsItJustMe Yesterday #25

Doesn't the US produce oil from it's own sources as well as from Canada and Venezuela? ChicagoTeamster Yesterday #2

Yes it is, but... MarcoZandrini Yesterday #3

75% of US crude imports come from Canada, Mexico, and Colombia and 7% from Saudi Arabia. ChicagoTeamster Yesterday #27

Each source of crude oil has different characteristics. WestMichRad Yesterday #4

"So a given refinery is pretty much locked in to use a single source of crude, or that from a very limited number..." OldBaldy1701E Yesterday #6

They know how to process all of the different grades of oil. They are doing it right now, in other countries. 3Hotdogs Yesterday #9

Deliberate for a financial reason Random Boomer Yesterday #10

It is untrue that U.S. refineries cannot process light sweet crude lonely bird Yesterday #15

Those in power don't want the public know what you explained in your post-it shows how well our Stargazer99 Yesterday #16

Say what? Random Boomer Yesterday #18

Tne general public does not know the dynamics of oil supply and therefore easier to manipulate Stargazer99 Yesterday #21

It's a pretty complex mixture to clean up WestMichRad Yesterday #24

Yes but oil is priced on the global market LymphocyteLover Yesterday #23

Reading between the lines what the oil industry executives are telling us....... KS Toronado Yesterday #5

This FalloutShelter Yesterday #7

in fact, it is likely to go up a lot because this Iran deal looks like it's going nowhere LymphocyteLover Yesterday #11

EXACTLY!!! Otherwise known as "we're getting richer, and fuck you!" niyad Yesterday #14

I have seen mention several times that gas prices will spike about July 4th... IthinkThereforeIAM Yesterday #19

And big oil profits will stay high. multigraincracker Yesterday #8

ANY statement prefaced... GiqueCee Yesterday #12

Opening the Strait is a very small part of the matter AverageOldGuy Yesterday #17

I don't think so WSHazel Yesterday #26