Gas prices are still high, diesel is at a record high, and the reserve has shrunk more than 30% in six months. While the reserve held around 415 million barrels of oil in February, it now holds less than 285 million barrels of oil — lower than it has been since the early 1980s.

These rapid drawdowns of oil threaten the salt caverns' structure, says Samantha Gross, director of the energy security and climate initiative at the Brookings Institution, a nonpartisan policy think tank. As the reserves get lower and lower, the physical facilities can get degraded, Gross says: " You can damage them by pumping too much out of them."

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[–] 39 points 2 days ago (13 children)

yeah he pretty much does not care about prices after the election so they are pumping out as much as possible to keep prices from skyrocketing.

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  • [–] 5 points 2 days ago (5 children)

    Prices have already skyrocketed. They've doubled since he took office.

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  • [–] 3 points 1 day ago (4 children)

    thats with massive pumping from the reserves. The true height is at least double again.

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  • [–] 1 point 1 day ago (3 children)

    When Trump took office this time around I was paying around $2.00 a gallon. Today it was 4.19. I don't know if I can afford much more.

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  • [–] 2 points 1 day ago (2 children)

    oh wow. I can't remember the last time I saw two bucks a gallon. Im lucky though in that I have only begrudgingly had a car so don't use a whole lot. like gas going up is such a drop in the bucket vs other things. I can't not eat.

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  • [–] 6 points 2 days ago (5 children)

    I wonder why markets are betting against a new shortage tho.

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  • [–] 6 points 2 days ago (2 children)

    So I watch broadcast tv and there are so many buy gold commercials which makes me wonder what they have up their sleeve for that.

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