I thought maybe we were since the prices are going up again but evidently we aren't. We may deplete about a third of the reserve which is pretty big. Here's a little note about how you store 600 million barrels of oil. It's not all in this country.

The Department of Energy oversees the Strategic Petroleum Reserve, which is a supply of about 568 million barrels of oil stored in four underground caves across the Texas and Louisiana coasts. The highest level the supply has reached was 727 million barrels in 2009.