By Bob van der Valk (Guest Post)
The Obama administration’s decision to release 30 million barrels of sweet crude oil from the Strategic Petroleum Reserve (SPR), located in Louisiana, makes no sense. House Speaker John Boehner remarked “President Obama is using a national security instrument to address his domestic political problems.” His observations may be an over simplification of our current crude oil supply situation. Here are some of the immediate impacts this decision will have on consumers and the markets: First – To answer the question asked in the headline – it will temporarily…
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