Biden administration to purchase 6 MMbbl of oil for Strategic Petroleum Reserve as prices drop

What a figleaf! How much is 6 MMbbl in the Strategic Reserve? Or in terms of US consumption. How many seconds could you keep the US running with this? It’s less than nothing and looking at the levels in the reserve right now, the US is in bad territory. Too many politicians have used it as a piggy bank to get their hands on cash for yet more useless political bling. Now the piggy is hollow. But the US could refill it very quickly and make a buck doing so. Unleash shale and allow it to grow to what it is supposed to become in unbound. That will be better than any strategic reserve. Shall we hold our breath?  

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