The U.S. government announced that it would release oil from the strategic petroleum reserve in coordination with a handful of other countries in an effort to tame oil prices.
The amount of oil that can be diverted into the SPR will likely be of little market consequence.
Dealing with the country’s energy security vulnerabilities requires sustained and targeted involvement by the federal government. The SPR plays an important role in insulating the U.S. economy from a volatile and unpredictable global oil market
Outages from Hurricane Harvey and the subsequent price volatility provide a reminder that despite the enormous changes on the U.S. supply side over the past decade, the country is still dealing with energy security vulnerabilities.