This week, the Biden Administration announced it will release millions of more barrels from the Strategic Petroleum Reserve this fall.
The SPR was filled several years ago when prices were much lower, and it cannot be replenished at this price. As a result, that sets a floor for gas prices that makes 2019 and 2020 prices far off.
Cow Guy Host Scott Shellady and his guest, Co-Founder and Portfolio Manager of Path Trading Partners Bob Iaccino, talk about the end game, which he says are several negatives to emptying the stockpile.
Related:
Gas prices could fall below $4 per gallon soon
President Biden considers releasing federal diesel fuel reserves
Lawmakers introduce bill to address high gas prices
