And...
we are still going ahead with plans to draw-down and sell-off the crude that is in the Strategic Reserve.
Idiocy.
we are still going ahead with plans to draw-down and sell-off the crude that is in the Strategic Reserve. Idiocy
If it weakens America...
Seems like we should be adding to it buying low selling high not buy high sell low
Notice how the fund generation of oil has decreased by some 60-70% since last year, notice how that affects certain oil producers that we would prefer to be cash poor at this time. (not saying our fedgov is control of that, it is not, but it does lessen the buying/operating power of certain nations). Net exporters/oil focused producers like Me, Asian and NE European folks mainly- on the other hand, the US has become significantly more oil independent and the over supply of oil in our storage capacity is a good thing strategically... I do feel for my friends in the oil patches, the ride was good for a few years, tightening up now, and our economy has the fuel it needs for production cost effectiveness, equating to either higher profits and or lower costs to both the industrial base and the consumer. As always, it is cyclic.
we need the cash to pay the insurance companies that were damaged by obamacare
old ladies sell the silver to make ends meet