Despite the opposition of the current Administration to more drilling in the US, he's going to release oil to the market from the Strategic Petroleum Reserve.
I don't get it.
More oil equals lower prices for fuels like gas and diesel. But he won't let new supplies to be created, instead pushing ale, biofuels and ethanol.
While I am all for development of alternative fuels(albeit not
The logic of his move with the Strategic Reserve escapes me....unless it is just a campaign stunt. And if more oil in the market is a good thing, then lets get serious about it and develop new sources in our own turf.
Price stabilization is not the intended use of the Strategic Reserve.