Yale Daily News

The United States already has a mechanism to deal with real supply shocks - the Strategic Petroleum Reserve, which would not only be far more politically expediant than your proposed solution, but is actually possible and what the Reserve was created to do.

In response to comment #1, using the petroleom Reserve has virtually no effect on the overall economy. You seem to be one of those Dolts that does not actually read the article...which was about moving the Supply Curve back to the right so it is at a relative equilibrium with the Demand Curve. The Petroleum Reserve would not move the Supply Curve and use of it is almost entirely for political, not economic, purposes.

To #2, While #1's suggestion wouldn't be a permanent increase to supply, it would, "move the supply curve".

I'm curious about your comment that using the reserve has no effect on the economy, since it's really never been used for a large scale drawndown.

The fact is, that releasing the reserves and convincing our allies to release some of their reserves, would certianly have an effect on oil supply (though temporary, perhaps long enough to ride out a recession and be on a path to longer term solutions like increased domestic drilling). If there is really such an immediate supply shock, why would these options be less attractive than "convincing" Opec nations to produce more?

This is a good article Trevor. From one WY alum to another I say long live the GOP!