This story has been reported at oilprice.com. The Strategic Petroleum Reserve (SPR) holds up to 700 million barrels of oil.
Congress has just given the Dept of Energy (DOE) the go ahead and start selling some of the oil out of the SPR.
In light of the Second Signpost this is a very foolish move. In many ways, it seems, the West is being led to go to sleep these days. The article says,
“Even the more hawkish members of Congress have been lulled into a sense of security from the surge in U.S. oil production and the resulting crash in oil prices. The world is awash in oil, so why does the U.S. need to stockpile such a massive volume of oil at great expense?”
The answer of course, is the Second Signpost is coming! The US has a 140-day supply today, and it will need every barrel when Iran makes its move.