richjoy

Is It Time to Bet Against Oil?

OK, let's open the SPR, drain up to 50% of it by auctioning it to all bidders. (a) How will that affect pump prices when refiners need a greater margin? (b) Can you think of a worse time to drain the SPR than when it looks like there will be an attack on Iran? (c) If attacked, what happens to oil supply and pump prices when Iran closes the Straits of Hormoz? (d) If you think expensive gasoline is your MOST SERIOUS problem, what will you think is your most serious problem when the pumps are dry because the SPR is dry, and there is no gasoline at any price?