Posted on 10/20/2014 10:25:20 AM PDT by MeneMeneTekelUpharsin
It appears the U.S. government has made a major release of oil reserves to deliberately affect the price of fuel prior to the elections.
Didn’t happen for all reasons already mentioned. Price of gas is already dropping, and a release of oil from the reserves wouldn’t affect the price of gas anyway.
Understanding how Democrats think: Buy oil at 110 dollars a barrel and put it in the strategic reserve. Sell oil at 80 dollars a barrel to lower gas prices ahead of an election. Wait until oil goes back to 110 dollars a barrel to replenish the strategic reserve. See? So simple! (I also am not buying the idea that a huge amount of oil has suddenly been released)
Sorry, but that’s not how it works. Oil, like stock, is worth what it is sold for today - not what it was bought for last week.
Just saw gas near Chicago, under $3 a gallon, wouldn’t doubt it. Hasn’t been that low since Obola took office!!!!
Why are gas prices bottoming out?
Did the speculators make all the money they wanted?
OPEC blames speculators for big drop in oil prices
http://www.marketwatch.com/story/opec-blames-speculators-for-big-drop-in-oil-prices-2014-10-10
Speculators can make and lose money with it going up or down.
Russia is dependent on high oil prices. Lower prices will destabilize their economy.
Not just Russia.
These 6 Countries Will Be Screwed If Oil Prices Keep Falling
http://www.freerepublic.com/focus/f-news/3217232/posts
http://data.cnbc.com/quotes/%40CL.1/tab/2
shows five year low for crude
been going down for some time
Absolutely.
The claim the recent drop in oil prices is from an unannounced release from the SPR is just silly.
Oil just doesn’t show up on the market.
Someone has to sell it. You just don’t slip a couple million barrels into the system.
and if the supply outstrips demand- as we see happening now, the price drops...
From the "We'll make it up on volume" School of Economics.
If you like your Strategic Petroleum Reserve, you can keep your Strategic Petroleum Reserve. :)
Top .... Men
Oil prices have been dropping over the last few weeks. Lo and behold! The U.S. dollar is stronger than it's been in years, too.
Very reliable source.
*************
Curious does this ‘very reliable source’ happen to work anywhere in the
commodities or stock markets? If not what is his source of income.
Is the SPR filled with lower grade sour grade crude anyway bought at a higher price ?
Actually no better time than now then to get rid of the old crude that was sold at higher price and refill it with a higher grade at a lower priced.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.