The SPR is only equipped to remedy short-term supply disruptions.

FORBES: Is The White House The New Federal Reserve Of Oil?

But unlike the Fed, which has the authority to anchor short-term interest rates and conduct open-ended Treasury purchases, the SPR grants the President no such sway in the oil market.

FORBES: Is The White House The New Federal Reserve Of Oil?

Accordingly, opponents of an SPR release argue that the reserve should be shut-in until a true supply disruption hits the market.

FORBES: Should We Use The Strategic Petroleum Reserve?

Considine examines a scenario in which the world experiences a 5 million barrel per day loss of non-Saudi crude and responds with an SPR release of 90 million barrels per month for the first three months, 60 million barrels per month for the next two months, and 30 million barrels during the sixth month.

FORBES: Should We Use The Strategic Petroleum Reserve?

Mr Cameron has no such oil lake to call his own, but his support would provide some political cover if Mr Obama decided to release oil from the SPR without backing from the International Energy Agency, the rich-world oil club and supposed custodian of the world's strategic reserves.

ECONOMIST: Oil reserves

And is that what -- there's a reason why people are talking again about the SPR as if something is about to happen.

WHITEHOUSE: The White House

Some analysts argue that President Obama would never tap the SPR so soon before the election, out of fear it may appear politically self-serving.

FORBES: Will Obama Pull The Trigger On The Strategic Petroleum Reserve?