Uh-oh...I wonder what they do to "fake news" purveyors in the gulag. Mine's working now too. Room 237 at the Siberian Hilton awaits.
They will keep stockpiling until they have about 5/6 months and have all drills in the US running,... then drop the bomb.... So VIX calls in Dec17.... get them while they're hot!!! EDIT. Ai... I forgot, I took my conspiracy theory hat off already....
I had read a GS research paper that said resistance for crude will be $91 when WTI was at $140 and I think that will play out during the " Trump years". Buy the dip until $90...
The chart suggests 695 MN barrels and the U.S. uses 19 MN barrels a day. So, that would be about 5 weeks. But that does not include the oil we would be producing domestically at the same time or importing from Canada and Mexico. But don't put too much importance on the oil reserve.........if there was a major conflict and we actually had to rely on the reserves, it would not be used for me and you to get to work and drive the kids to soccer practice. It would be used for the military.......or at least they would get the first priority.
Does that mean that the fall in consumption is an indication of an upcoming Recession? Or is it an indication of more fuel efficient cars and electric vehicles?