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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