Infrastructure Bill-Borrow, Print, Spend. What is the SPR?

Send us a textI am going to break down everything that you need to know about the SPR. The SPR stands for Strategic Petroleum Reserve- a system of underground tanks that hold up to 700 million barrels of crude oil reserves, or around 13% of total U.S. consumption capacity, which are used in times when there are disruptions in supplies due to natural disasters or conflicts.The President released 50 million barrels from the SPR and now we are being told the price of gasoline is going to decrease by almost a dollar in several weeks. The one key element that the government forgot to tell us is that the oil can only be released at a rate of 4.4 million barrels per day. That is roughly 6 days of usage at our current consumption of 18.19 million barrels. Is this a song and dance or are we going to see long-term relief at the gas pump? Support the showThanks for Listening! Follow us on Tik Tok Facebook and Instagram