So, President Joe Biden is taking 50 million barrels of oil out of the Strategic Petroleum Reserve (SPR) to cool the rapid rise in gasoline prices. Will it work? Not for long---if at all. We use about 20 million barrels per day. So 50 million is enough to supply all our oil for only about 2.5 days. Of course, we'll spread it over far more days, at far smaller quantities per day, but that's the total effect. Meanwhile, it's a complete misuse of the SPR, designed, when created in response … [Read more...]