JP Morgan Commodities Research Issues Latest Oil Reserves Info - Catastrophe!
- Jun 8
- 5 min read
Source: Hal Turner
The latest Global Oil Reserves Report is out from JP Morgan Commodities Research, and the numbers are nothing short of catastrophic.
As seen on the chart below, as of June, 2026, Global Oil Reserves are down to about 7.7 Billion Barrels. The chart makes clear the planet will drop to 7.4 Billion barrels "by" July.
When the world drops to 6.8 Billion barrels . . . . . . . . . it's over. No more refining will be possible because we will hit "tank bottom."
You see, the remaining 6.8 Billion barrels, are the bottom of the tanks. They can't refine the oil below that because it is so contaminated with dirt, rocks, sludge, and Paraffin wax, you know, the stuff they make candles out of. The bottom of the tanks is useless.
Even attempting to pump below that number would clog pipes, clog filters, and ruin pumps.
Moreover, the physical weight of the remaining oil in the tanks, is INSUFFICIENT to push the oil into pipelines, so refinery pumps can then PUSH IT into the refinery process. Oil is much thicker and heavier than water. Pumps cannot PULL it. The oil has to be PUSHED into the pumps which then can PUSH it into the refining process.
So at 6.8 Billion Barrels, the refineries shut down. None of us know exactly the date that will occur, but with the trend being as solid as it is, most rational people will agree we are maybe 8 weeks away from Tank bottom. That means no more fuel refining.
Most regions of the country have an inventory of gasoline and diesel already refined and stored. In the Northeast US, we have 45 days. So once the refining stops, those reserves are all we have left - and the reserves vary by US region. By the way, the NYC region has the largest reserve; so all the other regions, have less time.
As regional reserves run out, Diesel runs out first.
Without diesel fuel, all the trucks and Freight trains STOP. They all run on Diesel. There are no electric freight trains in the USA.
No trucks to pick up food from farms or ranches and bring it to processing centers.
No trucks to bring it from Processing centers to Distribution Centers.
No trucks to bring it from Distribution Centers to Supermarkets or stores.
Hence: No food on store shelves.
Now, many of you are probably thinking "We have the Strategic Petroleum Reserve (SPR)." That is ALREADY COUNTED in the JP Morgan Chart.
Others of you may be scoffing "We pump more oil than anyone else in the world." Yes. We do. But what WE pump, is light, sweet crude known as "West Texas Intermediate." When our country was younger, and we built our refineries, we were pumping a different type of oil from our land: Heavy Sour crude. So when we built our refineries, we built them to refine HEAVY SOUR crude oil. Their ability to refine "Light Sweet" is almost nothing.
That's why we EXPORT so much oil; we can't refine it. That may sound outright dumb - and it is - but there's a reason we can't refine it.
For decades, the oil industry here in the US wanted to build new refineries to be able to refine the light, sweet, crude oil, but they couldn't. Want to know why? The Environmentalists and the NIMBY (Not In My Backyard) whiners. They whined, and moaned, screeched, and cried about the environment.
When their temper tantrums didn't work, they sued. And sued. And sued some more. They made it so tough to even TRY to get a new refinery built, the oil industry just gave up.
So as you sit with no gasoline and no food, you can thank the ENVIRONMENTALISTS, their attorneys, and the nitwit Judges who sided with them.
Which brings me back to the warnings I've been telling you for MONTHS now: BUY FOOD!
Get shelf-stable food you don't have to refrigerate. Rice. Beans. Pasta. Canned meats, canned vegetables and the like.
If you've got freezer space - presuming the electric remains on as power plants run out of fuel -- fill up your freezers ASAP.
Oh, and what will you do if the electric goes out? Got a generator? Got spare fuel for it, so at least you can power your refrigerator/freezer a couple hours a day to prevent your food from spoiling?
Look, I know a lot of you think to yourselves "It can't possibly get that bad." Yes. It can.
But I can only lead a horse to water, I can't make it drink.
I've given you the numbers over and over. I given you the advice to stock-up, over and over. But I can't make you do it.
If you do, you'll have a chance to get by. If you don't, you won't.
If you choose to . . . . wait and see . . . . by the time you decide that maybe you SHOULD stock-up, it may already be too late. As the general public begins to figure out what's going on, they will make runs on the grocery stores the exact same way they do when a Hurricane is coming ashore. They heard about it for days, but wait until HOURS before, to get food. Then, they all run to the stores, and the stores . . . are sold out.
So you can either take action while you still can, or ignore the information - maybe until you're too late.
I've done my job. I've warned you. Over and over and over again. The rest is up to you.
Still Not Convinced?
Here is today's print of JAPAN Oil Reserves; they're tearing through theirs faster than we're tearing through ours. Same end result in Japan.
Europe? Same thing. Only THEY hit their troubles a lot earlier than we here in the USA.
But the real "tell" as to how things are going to go, is what the U.S. Military has begun doing: Urban warfare exercises.
The United States Military has begun Urban Warfare Exercises . . . in California.
(California is expected to run out of fuel, first.)
Here's video showing US Troops landing via attack helicopters on the old St. Lukes Hospital in Pasdena LAST NIGHT. A similar "exercise" took place in Irvine.
Watch just the first two or three minutes and you'll see what the United States Government is practicing to do when the shit hits the fan over what THEY KNOW is actually coming. The reason THEY KNOW . . . is because THEY CAUSED IT.
