NO! Tapping The Strategic Petroleum Reserve Is A Horrendous Idea

According to FT, the drumbeat is growing louder for Obama to release oil into the market via the Strategic Petroleum Reserve in order to reduce gas prices.

We posted this chart over the weekend, but we’re bringing it back again.

This is how many days worth of gasoline we have.

See a shortage? Neither do we.


Photo: EIA

What’s more, given that a big part of the problem is a refining capacity, there’s literally no reason to think that more crude oil in the market would be the answer.

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