Our 800 million barrel strategic reserve, drawn down at 4 millions barrels a day would last 200 days and supply 20% of our daily oil consumption. Then we have to refill it, because it's "strategic"... for the U.S. military. But it WILL lower gas prices leading up to the November, 2012 presidential election ;>)
Exclusive: U.S., Britain set to agree on emergency oil stocks release
Friday, March 23, 2012
The Cost of Gasoline... 2012
This is more accurate data on the current cost of a gallon of gasoline: crude oil=$2.94, refining=$0.52, storage=$0.02, sales taxes=$0.10, fed & state excise taxes=$0.54, distribution, marketing and profit=$0.24. Retail price $4.36/gallon.
Estimated 2012 Gasoline Price Breakdown & Margins Details
Estimated 2012 Gasoline Price Breakdown & Margins Details
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