The SPR statute states that the reserve may be used when "there is a significant reduction in supply which ... (results in a) severe increase in the price of petroleum products ... likely to cause a major adverse impact on the national economy".
To me, "significant", "severe" and "major" would apply in a Persian Gulf shutdown situation, not a temporary supply reduction due to a hurricane.
If the Persian Gulf is shut down, then you see these adjectives satisified, not just a temporary $.25-.50 increase in gasoline prices as we are currently facing.
Here are the operative words. It's only your opinion, not what the statute states.
I really don't like it when personal opinions are stated as facts.
There has been a 'significant reduction in supply' which already has resulted in a 'severe increase in the price of petroleum products.'
Obviously, the President and his cabinet don't share your personal opinion that the emergency need originate in the Persian Gulf (which is not, incidentally, stated in the statute), and have made a decision based on the state of emergency that the oil supply is currently in.