At its capacity, the SPR holds about 35 days of normal usage for the US. In a real emergency, that number would be about 70 days, maybe even 100.
It should always be full and never released outside of a genuine national emergency. Putting it all on the market at once would would have a negligible impact on the market for a brief period. It would ultimately harm us a hell of a lot more than Putin. Which is why it’s actually possible that this government might be considering such an idiotic thing.
I agree with all of you. It’s a bummer.
I tend to keep my own 3-6 mo tactical reserve, mostly to offset holiday and hurricane season price increases.
Obama just ordered 5 million barrels be released. He said it is part of a “test”; of what, I don’t know.