Check Out This Neat (Government) Math Trick

Sell oil? Boost GDP. Buy Oil? Boost GDP. What an incredible accounting trick...

Dear Old Friend,

The U.S. government is ready to buy three million barrels of oil after draining the Strategic Petroleum Reserve (SPR) after years of dumping it to keep oil prices low.

This was especially the case in the wake of Russia’s invasion of Ukraine (during an election year).

Fast forward a year, and oil prices are down – largely thanks to depressed demand from rising interest rates and U.S. sales of our national security supply in Louisiana. The SPR is now down to its lowest point in decades.