Well, yes. And these SPR releases amount to what?- a few days worth of national consumption?
As I said, he talks about releasing SPR oil because he thinks it makes him look like an action figure, not because there is any good rationale or economics behind it. One can make a better case that he should be purchasing and replenishing now instead. With oil supply being limited and war in the air it is not a good time to be assuming you are going to wait and replenish at a lower cost. That day may or may not come. Best not to even release. Of course, Biden says it is for a national emergency and I guess the midterms are what he considers an emergency.
My comment were "if" gas surges it would have a negative impact, not that it will. And if inflation surging continues, which it is.
Keep in mind that Biden is the one talking about SPR release based on Saudi cuts and other surprises/predictable events/unpredictable events. Saudis are off colluding with Russia as we know. And we know that they want to punish Biden bigtime at the polls. So I am saying "if." I cannot rule it out just because current prices are okay.
As I said, Joe be the one talking about the SPR releases. If there is no need to worry well then why is he doing that and why is he talking about SPR release or at least trying to run it up the flagpole to see if anyone salutes? Apparently he is digesting the impact of the Saudi cuts in ways that need to be more fully understood. I don't have enough information yet. In general though, I do not like to see the Saudis meeting with Russia to see how they can participate in cutting America's balls off. Nothing good can come of that. So additional surprises are not out of the question before the elections.
The limits — and possibilities — Biden faces in ordering more SPR releases
https://www.washingtonexaminer.com/...t/limits-and-possibilities-biden-spr-releases