Sure! The last time this was done...all the oil released ended up over seas. The effect of this is purely symbolic.
Except it will lower the federal deficit for this fiscal year.
I believe you are right on target. The only possible benefit would be to lower crude prices making gasoline cheaper in places that don't have our current supply problem.
Didn't you just know we would get a "do something" solution? I'll be grateful if we escape the price control option.