That’s what George W. Bush proposed spending tonight in the State of the Union. Where? He said he wanted to double the size of the Strategic Petroleum Reserve. Here’s the math:
The current SPR holds 727 million barrels. Multiply that by the current price of oil, $55/barrel, and let’s add a $7/barrel surcharge because of the newly increased demand, increasing scarcity, and other fun shocks. That’s $45 billion going to oil companies.
One last payoff to his buddies in the bidness while he’s still got the chance.