Filling the SPR

Why fill the SPR now, of all times?

Does anyone have an argument in favor of continuing to fill the Strategic Petroleum Reserve while oil prices are at all-time highs an the futures markets are predicting lower prices a year from now?

This is a different question from taking out out of the SPR (though it’s worth noting that 1 MBD x 60 days wouldn’t “drain” a 700m barrel reserve). But why should the Bush Administration be helping OPEC maintain world oil prices?

Author: Mark Kleiman

Professor of Public Policy at the NYU Marron Institute for Urban Management and editor of the Journal of Drug Policy Analysis. Teaches about the methods of policy analysis about drug abuse control and crime control policy, working out the implications of two principles: that swift and certain sanctions don't have to be severe to be effective, and that well-designed threats usually don't have to be carried out. Books: Drugs and Drug Policy: What Everyone Needs to Know (with Jonathan Caulkins and Angela Hawken) When Brute Force Fails: How to Have Less Crime and Less Punishment (Princeton, 2009; named one of the "books of the year" by The Economist Against Excess: Drug Policy for Results (Basic, 1993) Marijuana: Costs of Abuse, Costs of Control (Greenwood, 1989) UCLA Homepage Curriculum Vitae Contact: Markarkleiman-at-gmail.com