> On Wednesday, the administration announced it would release 172 million barrels of crude from the Strategic Petroleum Reserve. The total reserve is 415 M bar

> On Wednesday, the administration announced it would release 172 million barrels of crude from the Strategic Petroleum Reserve. The total reserve is 415 M barrels [1], so this is 41% of the reserve!! And refineries use about 16.5 M barrels per day [2], so if refineries used _only_ this reserve oil, it would keep them busy for 11 days. Of course they aren't _only_ using the reserve oil. I'm sure it will still have an effect, but I think it's a shorter-term solution than it first appears. I don't think this will ease prices for more than a couple months. Would be happy to be corrected if I'm mistaken about some of this. Edit: I guess that's why they're suspending the jones act, as a longer-term solution. But the article says the Jones act will only save "pennies per gallon, not dimes per gallon", so that also doesn't seem to really do much :/ [1] https://www.spr.doe.gov/dir/dir.html https://www.spr.doe.gov/dir/dir.html [2] https://www.afpm.org/newsroom/blog/how-much-oil-does-united-states-import-and-why https://www.afpm.org/newsroom/blog/how-much-oil-does-united-...