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Quoth the Raven #283 - Dr. Marc Defant

Quoth the Raven

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The Cost of Gasoline Going Up

Our strategic petroleum reserve was at 568 million barrels. The world's supply of oil is about a hundred million barrels per day, which is about 18 billion barrels over six months. So what biden is doing is his introducing about one percent of the needed oil into the market from our strategic reserves. Now how crazy is that? And he thinks that one % is going to affect the price of oil. It came down six dollars, i think, when he first announced that he was going to issue a million barrels perday.

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