Houston, Texas. E-mail: brucebeaubouef@people.com
In November 2005, the Cato Institute issued ‘The Case Against the Strategic Petroleum Reserve’. Its authors, Jerry Taylor and Peter Van Doren, argued that the Strategic Petroleum Reserve had become an anachronism, and that the government should terminate the programme and sell all the oil. Unfortunately, their arguments and evidence were often flawed and sometimes erroneous, and their conclusion, coming as it does in an era of increasing energy insecurity, could not be more misplaced.
