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Joined: 10/08/1999 Posts: 4308
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Fear not, the government in its infinite wisdom is talking about

releasing 180M barrels of oil from our strategic reserves. I've read they want to release it at a rate of 1M barrels per day to lower gas prices. So, the strategic reserve is depleted and will have to be re-filled at higher prices. Plus, as a bonus the consumer gets a 6 month slight reduction of gas prices. Does anyone see any logic to this?

The real answer is to entice US producers to produce more and not empty the strategic reserve. All emptying the reserve does is provide a short term slight respite from higher gas prices. This prices will rise anyway after the strategic reserve is depleted. Oh, the the taxpayer gets to foot the bill to refill the reserve at a higher rate.

Fore reference, the US uses over 19M barrels of oil per day.

[Post edited by MCL3 Hokie at 03/31/2022 10:08AM]

(In response to this post by EDGEMAN)

Posted: 03/31/2022 at 09:59AM

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Fear not, the government in its infinite wisdom is talking about

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