Should the U.S. release oil from its emergency reserve to lower gas prices?
Amid the ongoing Middle East conflict, AAA put average U.S. gasoline at $4.36 a gallon while diesel topped $6 a gallon for the first time.
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Like the Fed, the oil reserve shouldn't be used as a political tool.
We have already drawn down our strategic oil reserve by 60% (714 million barrel capacity drawn down to 285 million barrels remaining). We need to maintain adequate reserves for a true emergency rather than spending it down because a fool started a war he can't finish that has led to sky high gas prices at the run up to an election.