China and other foreign markets likely benefited more than American drivers after President Obama tapped the U.S. Strategic Petroleum Reserve to relieve price pressure, according to US News and World Report.
“Yes, the government can reduce the price of oil by suddenly releasing 30 million barrels from our reserves,” says But it does not help the United States in any way. Even if it reduces the price of gasoline by 10 cents a gallon and saves the average consumer $6 a month, it does so over the entire world, not just in our country,” says financial analyst David Marotta, president of Marotta Wealth Management in Charlottesville, Va
Read more on Newsmax.com: Expert: Obama’s Tapping of Oil Reserves Helped China More
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