Hmmmm.......interesting... Lets say U.S. production and imports from Canada and Mexico were to hold place. The U.S. would need to release about 950,000 barrels per day to meet all of the United States current demand. Based on the SPRs 727 million barrels in storage, we could do this for well over two years and drive down global prices significantly. Surprisingly, though, we dont even need to go to that extreme. According to economist Phillip Verleger in a recent Quartz article, if the U.S. were to release only 500,000 barrels per day from the SPR, it would lead to a $10 drop in oil prices and would cost Russia $40 billion in sales. At this pace, we could maintain this pace for more than four years and could potentially cause Russias GDP to drop by 4%. fool/investing/general/2014/03/30/america-may-have-just-unveiled-a-new-weapon-to-com.aspx
Posted on: Mon, 31 Mar 2014 16:02:57 +0000
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