Idea of the Day: Sell Oil from the Strategic Petroleum Reserve

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There are very few immediate actions that government can take to stop the oil price escalator. But selling a relatively modest amount of crude oil from the U.S. Strategic Petroleum Reserve and promoting oil efficiency could pop the speculative oil price bubble and lower prices.

The United States sits on 705 million barrels of oil in the Strategic Petroleum Reserve.

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At www.americanprogress.org

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