[GSlob]

"Still not the right thing to do though, IMO"
Why "not the right thing"? If that same amount of oil can be put into strategic reserves not @ $75/bbl but at a lower price a bit later, then it sounds like a right thing to do unless the reserves are to be replenished pronto, no matter what. Timing the markets is a bitch, but he's an oilman, after all.

[BenLurkin]

Because we will need as large a stockpile as possible for the inevitable time comes when there is no oil to had any price.