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I wonder if the tanks filled to the brim include the US strategic reserves. It would be a good time to replenish the reserves to maximum capacity considering the fact that it could provide a buffer to the next price jump. I guess it's just wishful thinking to believe any govt tentacle could actually be run competently.
The Saudis need $80 a barrel to cover the cost of their normal expenditures which have exploded since OPEC was formed. Now we see no such cooperation in that area, greed is destroying the cartel. Wild price fluctuations are the direct result and many of those futures buyers have likely been burned quite badly if this "cheap" cycle continues.
AS far as fuel is concerned, for me it's cheaper than ever, even compared to the penny a mile it cost me 50 years ago. Wonder what the adjustment for the US taxable mileage based business deduction will be for THIS year.
regards
mech
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