The White House reportedly is thinking about tapping the Strategic Petroleum Reserve, renewing discussion of the reserve’s real purpose – whether it’s to protect against serious supply disruptions or to counter price spikes. We’d argue for the reserve’s strategic role – and suggest that if the administration wants to improve its energy standing there are positive choices that would have lasting impact.
We’ve discussed the reserve’s importance in protecting the United States from dire supply disruptions before. Current talk of a reserve draw down has some saying the administration may be more concerned with domestic politics than with the strategic energy picture. Houston Chronicle business columnist Loren Steffy, in a piece headlined: “Maybe we should rename it the ‘Political Petroleum... more »