MacroVoices #317 Philip Verleger: Central Bank Policy Trumps Energy In Economics
Macro Voices
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The Energy Policy People Are So Dumb When It Comes to Energy
When people start worrying about future supplies, they become less willing to sell them. And so you build up a hoarding premium. If inventories were higher, it would be lower. We're sitting on one point six billion barrels of strategic stocks and all they've used is five%. I don't know what they're holding it for. The gat price of gasolene would be down 50, 75 cents a gallon if there was a huge release.
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