Building oil reserves?

No that oil is cheap, why dont the government buy vast amount of oil so that when the oil prices rebound the government can use the oil in the future. does this make economical sense? they should build storage facilities and tankers for this. Dont you think?Building oil reserves?
The US government has extensive oil reserves, and the levels are not accurately shared.





In any case, with 21 million barrels burned per day in the US alone, oil is effectively a commodity. It's like grain or rice. This should not be so and given finite supply, but capitalist markets are irresponsible and arbitrary.





Furthermore and according to your idea, increased demand for purposes of storage would simply drive the price up. As an effective commodity, this would not make financial sense.





Thanks for your question. It's a good one. The lines of decision are based on differences between ';commodities'; and ';luxury or branded products,'; and elasticity thereof.Building oil reserves?
You seem to think that those in government want things to be different than they are. They're not in the business of solving problems for citizens. If you don't have ';Inc.'; or ';LLC'; at the end of your name you're just a faceless member of the herd to be milked.
why not drill like freaking crazy and spend that 17 billion give away to the big three on research and development of a viable fuel?





Doh! Now I know hwy, the democrat enviro-nutcases and lobbyist who work for Pelosi and Barry.





got it
If the government decided on Monday that it was going to buy a bunch of oil Tuesday, the news would be out by Monday evening, and by Tuesday morning the price would be $200 a barrel.
Buy it with what?





In any case, we have plenty of oil in the United States, but we don't drill for it enough, and we don't have enough refineries to process the oil we both import and drill.