How Obama’s Policies will Affect Energy Prices
By Marin Katusa, Chief Strategist, Casey Research Energy Team
Casey Energy Opportunities
One might think the United States would be charging hard on energy security as well as border and other kinds of security in its Global War on Terror campaign. Not so. For example, America imports some 12 million barrels of oil per day, yet maintains a Strategic Petroleum Reserve (SPR) whose maximum is 727 million barrels and its inventory is currently lower, 701 million barrels, because the government cut off shipments to it last year in an effort to modulate gasoline prices. [That is just over a 58 day supply-Editor] The math gets even more discouraging when you work in the fact that the SPR’s daily drawdown capacity is only 4.4 million barrels – so America is completely unprepared for any worst-case scenarios, or even the bad-case ones. Continue reading
