So much oil is going to be released from the SPR that the Louisiana Offshore Oil Port (the LOOP) is designating segregated storage capacity for crude deliveries from the US SPR beginning in May. I guess this is being done to make bookkeeping easier and to facilitate exporting oil from our strategic reserves to China and India.
It took decades to fill the SPR and now in six months, half of it will be gone.
Having said all that, the release is a non-issue. Even after the release there will still be more in storage than required by law, and Congress can change that requirement any time.
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DisneyWorld
All of a sudden we're seeing a lot of stories how much this could cost Florida taxpayers. I wonder who might be writing those stories?
My hunch: any tax shortfall will be covered by an increase in property taxes on theme parks where incorporated out-of-state. Ticket prices will be increased to pay the increased property taxes.
Already the governors of Georgia and Colorado have extended offers to Disney to move DisneyWorld to their states.
Probably not gonna happen.
On another note, things like this don't just come out of thin air. Something tells me there were a lot of folks in Florida who were very unhappy with the "special arrangement" Disney had with Florida even before the recent dust-up. These folks were simply looking for a "tipping point." This "tipping point" seemed to be incredibly nebulous (as in "hazy") but it was enough to get a governor to go along with the plan.
Watching this unfold will be fascinating. I have no dog in this fight.
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