In October of 2013, with oil over $100 per barrel, Phil Davis of www.philstockworld.com suggested selling short futures contracts against the Strategic Petroleum Reserve to generate money for the Treasury. At $30 today, those contracts would have generated $24.5Bn in profits or 7 times more than the proposed $10/barrel oil tax proposed by the President.
Now, with oil at all-time lows, Davis suggests locking in sub-$30 oil prices for the long term for the benefit of the American people using the same system. Should oil prices rise, the contract gains will offset price increases for decades to come.
The time to act is now and Davis is ready to step in as Energy Czar and oversee hedging operations that give the US full control over oil prices.