Why Tapping The Strategic Petroleum Reserve Now Would Be Completely Insane

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:

chart

Photo: EIA

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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