Viewing a single comment thread. View all comments

IggyPoisson t1_ireqwse wrote

The fed announced additional releases from the SPR yesterday right after OPEC said they would decrease production to prop up prices. I don't understand your title.

4

FuhrerIsCringe t1_ireroa7 wrote

What happens when SPR goes empty? Is the more accurate question.

3

857477459 t1_iretajl wrote

Nothing "happens". At some point the government will just have to start buying back oil at a massive loss. At this point Biden is just worried about the next month until the election, after that it's irrelevant if oil prices rise.

4

857477459 t1_iresxf0 wrote

The Fed doesn't control the SPR, the President does.

2