Oil is up almost $ 20 a barrel this month! A terrorist attack would likely not had so rapid an impact. So why are not tapping the Strategic Petroleum Reserve? In fact, we keep pumping into it.
Cynics say we only have reserves equal to 2 months of oil imports - what difference would it make? In a tight oil market a lot. After Katrina, the government pumped out about 11 million barrels - 1.5% of the reserve and it had a calming effect on the market.
What do readers think?
