03-31-2022, 05:48 AM
Why is the government sitting on half a BILLION BARRELS of oil?
<!-- SC_OFF --><div class="md"><p>I read an article today saying that biden plans to release a million barrels of oil to tame gas prices.</p> <p>I don’t know much about commodity markets, and I was wondering if this was a large number. At the bottom of the article it said that this is out of a reserve of 568 <em>million</em> barrels.</p> <p>What the hell are they doing with all that? Is some of it for military? Zombie apocalypse? My point being, why arent they releasing 10, 50, 100 million barrels of oil? Wouldnt the government also make some money doing this.</p> <p>Someone clue me in here please.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/EthicallyIlliterate"> /u/EthicallyIlliterate </a> <br/> <span><a href="https://www.reddit.com/r/investing/comments/tso52z/why_is_the_government_sitting_on_half_a_billion/">[link]</a></span> <span><a href="https://www.reddit.com/r/investing/comments/tso52z/why_is_the_government_sitting_on_half_a_billion/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>I read an article today saying that biden plans to release a million barrels of oil to tame gas prices.</p> <p>I don’t know much about commodity markets, and I was wondering if this was a large number. At the bottom of the article it said that this is out of a reserve of 568 <em>million</em> barrels.</p> <p>What the hell are they doing with all that? Is some of it for military? Zombie apocalypse? My point being, why arent they releasing 10, 50, 100 million barrels of oil? Wouldnt the government also make some money doing this.</p> <p>Someone clue me in here please.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/EthicallyIlliterate"> /u/EthicallyIlliterate </a> <br/> <span><a href="https://www.reddit.com/r/investing/comments/tso52z/why_is_the_government_sitting_on_half_a_billion/">[link]</a></span> <span><a href="https://www.reddit.com/r/investing/comments/tso52z/why_is_the_government_sitting_on_half_a_billion/">[comments]</a></span>Kind Regards R