Pres. Obama may authorize the release of oil from the Strategic Petroleum Reserve in a...

|By:, SA News Editor

Pres. Obama may authorize the release of oil from the Strategic Petroleum Reserve in a pre-emptive move to head off $100 prices, according to a new Citi report. Even so, an SPR release could be like pushing on a string: It may not matter how much oil authorities release, since the problem is that the “oil multiplier” isn’t working because crude isn’t being converted to product inventory.