tag:blogger.com,1999:blog-7800828841873738105.post2054010345222666969..comments2023-07-02T06:58:33.737-05:00Comments on WebberEnergyBlog: More on the SPRMichael E. Webber, Ph.D.http://www.blogger.com/profile/12416546342365493633noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-7800828841873738105.post-30917121850589355452008-04-22T19:27:00.000-05:002008-04-22T19:27:00.000-05:00Another point that I thought of after class, is th...Another point that I thought of after class, is that we are currently stockpiling oil when it happens to be at record prices. While Ben is correct to point out that the SPR does little to effect the cost of oil on the open market (b/c the SPR is only purchasing a small amount compared to the total amount of oil bought/sold) the government is still purchasing oil for the reserves at record highs. Last I checked the people benefiting from record oil prices weren't the average Joe paying the taxes collected to purchase the oil in the first place. While I'm not sure I understand the true benefits/risks of the SPR, I do know that it doesn't make sense to purchase something at a record price unless you need it. Thoughts?Jonathan Q. Weldonhttps://www.blogger.com/profile/14980322403773749376noreply@blogger.com