The loss of crude oil imports from Libya since the political movements have closed production there has led the U.S. government to open the emergency reserves this summer.
FORBES: U.S. Opens Oil Reserves: Crude Futures Continue To Fall
Oil prices recovered substantial losses suffered last week after the International Energy Agency (IEA) announced it would be releasing 60 million barrels of crude from its emergency reserves.
FORBES: Oil On The Verge Of A 4-Day Rally As OPEC-IEA Conflict Escalates
Once this strategy has been fully executed, they should also consider putting a portion of their emergency reserves in an investment within their Roth IRA that is conservative and provides liquidity.
You hope to increase your retirement savings, save for education, increase your emergency reserves, pay down debt and revise your estate planning documents, but there is only so much time in the day and money in your wallet.
Several countries, including Malawi, Zambia and Zimbabwe, are already building up emergency grain reserves.
Malawi's government is notoriously corrupt: last year it chose to sell 167, 000 tons of its emergency grain reserves, and the proceeds seem to have disappeared.
Germany has also said it is ready and willing to "dip into its own emergency oil reserves" to release some 2 million barrels a day for 30 days.
As part of a three-phase program to increase its strategic petroleum reserves, China is building four emergency oil-storage facilities across western China, in the east and in the south.
News reports that Cyprus could be forced to sell its gold reserves to help cover the costs of the emergency loans from the European Commission may have also weighed on prices.
After an emergency meeting with his top advisers, President Yeltsin claimed the country had enough reserves to avoid a financial crash.
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