RE:RE:Funds for refilling the SPR has only $841 leftThe question of how effective the SPR actions are I imagine it is related to some politicians that said 1 Mb per day of additional supply would not make much of a difference when the world consumes 102 Mb/day. True or not or even partially true, that is typically what all politicians do - criticize the policy of the other party. The question of using the SPR for lowering prices was also raised as that is not the intended purpose of the reserve..
But the point to the story is that they assured us they were going to sell oil in the SPR at an average of $95 and refill at $79 or below, and therefore having zero cost to taxpayers and actually banking money. Market prices currently and if we assume lower or flat prices going forward implies the conditions are exactly for that scenario to happen. Now all they have to do is buy with the funds they accumulated. Turns out they blew the money that they were to keep to refull it. So they have only $841 million left which equates to about 12 Mb.
GLTA