Sunday, October 26, 2014

Is the U.S. holding too much oil in reserve?

                          According to the article, The U.S. has the largest emergency stockpile of oil in the world. And now that the country's oil production is booming, there's questions if America needs to hold so much crude in reserve.
                            The talk of shrinking the oil reserve is a major shift from the political debates of the past years, when Americans were being squeezed by high gas prices.
               For now, the oil prices in the United States have stumbled to the lowest levels since 2012, and gas prices have fallen below $3 a gallon in many parts of the country.
                             Currently, there's enough oil in storage to meet the nation's needs for 106 days. In contrast, most oil consuming nations have 90 days of oil supply in storage.
                         
               http://money.cnn.com/2014/10/24/news/u-s-oil-reserve/index.html?iid=H_E_News


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