I may not be *anywhere* near Katrina's path of terror, but when I drove past a Mobil gas station today, I felt like I had been picked off the ground, spun around and most lovingly slammed against a sharp spire or at least an extremely thorny tree-top. The red, white and blue price sign read "$2.79/gal". Only yesterday, it read "$2.62/gal". Is it possible to be nostalgic for just the day before?
So when I heard the Feds had decided to release oil from the Federal Reserves, the first question that popped in my head was: "is that like a secret storage facility where they keep barrels and barrels of gasoline?"
Turns out that is exactly what it is. A huge storage facility containing barrels and barrels of gasoline. Just how big is this reserve? Enough for all SUV owners to say "fill 'er up" simultaneously? Oh, much more. It holds 727 Million barrels of oil, representing a total investment of $21 Billion. This is the largest emergency petroleum reserve in the world.
Please, Mr. Fed, open up your caverns and take us back to the days when a gallon of gas was cheaper than, well, today's gallon of gas.