Petroleum Profits

While releases from the Strategic Petroleum Reserve totaling 180 million barrels will soon end, the benefits may not. The releases, intended to lower pump prices and which came under political pressure, were sold for an average price of $96.25/bbl. With crude prices now $74.29bbl, the U.S. is up about $4 billion. While the eventual price we will pay to refill the Reserve remains unknown, selling high is a good start.