This entry was posted on Wednesday, April 16th, 2008 at 3:00 am and is filed under gasoline, Jet Fuel, oil. You can follow any responses to this entry through the RSS 2.0 feed.
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I would like to ask your opinion about the approach our government has when it comes to the hoarding of crude oil.
Don’t you think that they should release about half of the Strategic Oil Reserve and bring the market back to where the common man can afford to buy more than a gallon of gas at a time?
Sorry about the confusion. I’m not Tom Waterman. He runs the website http://www.oilintel.com. I just posted that article here because I eventually wanted to excerpt some things from it.
My personal view is that the SPR is for emergencies, not for lowering the price of gasoline by a few dimes in a time of non-emergency.
The result would be neglible at best and the oil would have to be replaced anyway.
The best thing that could be done with the SPR is that it should be doubled very slowly but with the oil much closer to regional refining centers instead of concentrated on the Gulf Coast.
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