America's Real Strategic Petroleum Reserve

America's Real Strategic Petroleum Reserve

by Amy Jaffe, Foreign Policy

Amy Jaffe, Foreign Policy
As oil prices ticked above $115 per barrel last week, a White House leak revealed that President Barack Obama may dip into the Strategic Petroleum Reserve (SPR), the United States' 695 million barrel stockpile of emergency fuel supplies. The leak might have been a signal that Washington wants Gulf countries to take action to lower oil prices. .http://www.foreignpolicy.com/articles/2012/08/24/Saudi_Arabia_Strategic_Petroleum_Reserve