With Oil so low why doesn't the U.S. fill up it's Strategic Oil reserve now? ?

The Strategic Petroleum Reserve is near capacity now.

The current inventory is 702 million Barrels. The total capacity is 727 million barrels. On going maintenance or other issues may prevent total capacity at this time.

There are plans for future expansion of the system to allow more capacity, but this will take a while.

The oil reserve is already at a record and near the full capacity of 727 million barrels. Right now there is 707.4 million barrels. Other countries could start creating their oil reserves. China started one during the height of the oil crises.

They can't, because back in May, the senate voted to suspend the 70,000 barrel per day shipment of petroleum to the emergency reserve in hopes of lowering gas prices. The move was supported by Bush. It's set to resume at the end of 2008, but we're approaching the end of 2008 and they seem to have forgotten about it *rolls eyes*

Now would be time. Hard to understand why Bush had to start buying foreign oil for the strategic reserves LAST year....

We're waiting for the oil companies to give out free NFL team glasses with every fill-up.

We already have, enough supply for 6 months to a year in case of an emergency.

It's kept in the lime stone mountains in the northern Alaska.

Regards.

WHY DO YOU THINK WE ARE IN IRAQ! Yes we are running low on oil. The main reason other than liberation that we are in Iraq is to maintain oil. If we successfully take hold of oil tanks in Iraq, Gas prices will dramatically decrease therefor improving the economy>

President Bush will do it if it's in HIS interests, afterall we wouldn't want King George to get low on funds.

Sounds like a good idea to me.

I would hope that they are.