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Experts Don't Think It's Wise to Tap Into Oil Reserves


A local financial advisor says it may be tempting for the President to tap into our country's oil reserves, but he doesn't think it's a good idea. Tyler Simones is with Northwest Quadrant Wealth Management in Bend: "I think that's an aweful idea. This is a temporary fixible thing and things in the Middle East will resolve themselves and the prices of oil will trade backwards; it’s supposed to trade in the $80 range and so for the President to tap the oil reserves; it would be a mistake.” High gas prices can have a chilling effect on our economic recovery. Simones says every $20 above $90 impacts GDP about half a percent.

 

 

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