XJ347 t1_j0k9emc wrote
Reply to comment by Al_Jazzera in US buying 3M barrels of oil to start replenishing reserves by B1gMay0
... That's the point of it. To sell off when prices are high to lower the price.
The price atm is actually reasonable so we can slowly refill the stockpile. Note we are BILLIONS of barrels down, we are slowly buying it back now that prices have dropped. If they drop any more we would buy even more.
Al_Jazzera t1_j0k9tkb wrote
At a pretty small savings at the pump, add to which a war between Ukraine and Russia with a nutcase at the helm with nukes. Not a likely scenario, but a possibility. We really could use that if something really pops off, but hey 10 cents on a gallon of gas is a pretty sweet option too.
hitman2218 t1_j0kesbm wrote
The impact doesn’t end at the gas pump. There’s a ripple effect throughout the economy.
Al_Jazzera t1_j0ky8w4 wrote
Obviously, but it doesn't have that much effect.
thefugue t1_j0m3vr4 wrote
Well by that argument there probably would never be a time you’d condone the reserve’s usage outside of war- which it isn’t usable for as it’s simply sold as crude on the open market for private refining. It is literally only used to impact prices.
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