Posted on 10/20/2014 10:25:20 AM PDT by MeneMeneTekelUpharsin
The poster I was responding to.
Releasing the high priced reserves and replacing them with low priced reserves
"I'll take Pissing Away $20 per Barrel of Taxpayer Money for $1000, Alex."
“Very reliable source. “
Release them from where? To go where? For what?
And the precise source, and their credentials, please.
shades of Clinton-Gore (same thing happened)
ding ding ding
I love it when we can all speak the same language. FR Rocks.
keeping oil reserves is Raciest don’t you know , LOL
Buying votes with the peoples’ own money, I’d say.
It lowered the price of oil further.
SMDH...
Actually Gas Prices dropped today in my area.
From 3.09-3.19 to 2.83 per gallon.
I use a great little Phone App called Gas Guru (also fast to find restaurants, bar locations etc.)
This morning I thought something was broken when I saw the prices had dropped for no apparent reason.
Your source is an idiot.
They couldn’t release enough oil to affect the price of oil.
It is an artificial dump, if it happened and has zero effect on production and supply past a week.
I did notice it smells different lately, a little more acrid. Coinkydink?
It’s much more likely that O cut a deal with the Saudis to drop the price. It would have a number of short term benefits for O and the Saudis: Saudis keep their market share up, hurts the domestic oil and gas business, cuts gasoline prices going into election and hurts Putin who suddenly becomes much more reasonable on the Ukraine. O’s Long term goal: hurt domestic production to raise prices and make green energy look more economical.
What it? This release has not happened.
Secondly, how would selling oil and buying it again help? Do you imagine after this imaginary release ended, prices continue to fall? And they don't climb while being bought again?
Sorry, this is a total croc. There is not enough oil in the strategic reserve to impact prices one penny.
Google around yourself.
Daily global oil consumption is about 87 million bbl / day.
Strategic reserve is about 727 million bbl.
Which would supply the world for only 8 days.
Also, if you prefer something subjective, check old news stories around the time when gas prices are through the roof.
There’s always at least one dummy recommending a release of reserves to help the price and the answer is always no.
Because....
The SPR is only physically capable of pushing out 4.4 MMBPD. It isn’t capable of being emptied in a few days.
I believe this was the Oktober Surprise that was mentioned earlier? Low gas prices ahead of the elections? Makes sense. Sure been in the news a lot. Certainly enough to detract from the many negatives being experienced thanks directly to Obola and the America hating leftists.
Is that what the Google cars run on? Wow Google is into everything.
Gas has been uncommonly low (for the Obama administration) over the summer.
So while I may not think your story is true, It would be interesting to know what the factors are. I dont’ think the strategic reserves can be released without a big ta-do.
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