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re: U.S. Department of Energy to Release 1 Million Barrels of Gasoline from Reserves
Posted on 5/21/24 at 9:14 pm to ragincajun03
Posted on 5/21/24 at 9:14 pm to ragincajun03
As a nation we use 8 million barrels of gas a day. Let's say the northeast (where the reserves will be emptied) is responsible for 1 million of that.
He's basically selling an extra day's worth of gas cheap into the local supply. This won't put a golf ball dimple in prices at the pump.
But the tanks get stirred, the old gas gets cycled out and the propaganda machine feeds him another talking point to soften a blow that comes every summer.
Posted on 5/21/24 at 10:45 pm to AUFANATL
quote:
He's basically selling an extra day's worth of gas cheap into the local supply. This won't put a golf ball dimple in prices at the pump.
First, I am not saying it will result in a large (that's subjective after all) or sustained change but because gas is a highly inelastic good supply/demand mismatches have an outsized impact on price.
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