Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (383060)	5/7/2008 2:03:42 PM
From: i-node	Read Replies (2) \| Respond to of 1574953

MM In '05 the legislature required the SPR to grow to 1 billion barrels, and they are involved in that process now. Even that only gives us a couple of months' protection based on net imports. The average cost in the SPR today is between $25 and $30 per bbl, so adding some oil (relatively small amounts, at that) at today's cost will still result in a low average cost when compared with the rates we can expect to see. If Congress has required the SPR to increase, I'm not sure DOE is in any position to gamble on whether prices are going higher or lower. I guess we could think of it as "dollar cost averaging". At any rate, we are up 300+% on what's already in there so it probably doesn't hurt to keep adding the small amounts we are adding.