With gas prices rallying, there’s bound to be growing chatter about whether or not the US should tap the Strategic Petroleum Reserve.
The answer is: no.
The longer answer is: Really, no.
Here’s a look at gasoline availability in the US:
We have more days’ worth of gasoline now in the US than at any time since the late 90s.
The SPR only makes sense as a vehicle to tap when there’s a shortage. Right now there’s none — just high prices globally and a bottleneck at the refiners.
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