His most radical proposal is also the most interesting: eliminating the Strategic Petroleum Reserve. The reserve was created 40 years ago in response to the Arab oil embargo, and like many of our energy policies, it’s rooted in decades of dependence and a presumption of scarcity.
The 700 million barrels in the reserve were amassed at an average price of $28 a barrel, which means the government stands to make a nice return on its investment, assuming it disposes of the reserve carefully.
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