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|President Obama authorized the release of 30 Mil Barrels from SPR. The earliest the petrol can hit the markets is 13 days after Presidential authorization.
The Strategic Petroleum Reserve Web site:
(note: left panel headlines on content including removal, restocking policy and intent of use)
Energy Sec. Chu states that because Libya production is interrupted by 1.5 Mil Barrels a day we will release 30 mil. Barrels into global markets (along with 30 Mil released by other global providers. States that typically summer months are when gas prices go upâ€¦ the release will stabilize prices/economy.
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