Posted on 06/26/2011 5:26:14 PM PDT by Abathar
I was just wondering if some knowledgeable freepers could enlighten me on Obama's release from the strategic reserves and the sudden and severe drop in oil prices that occurred within minutes of his announcing it. I'm wondering exactly who has to agree with this for it to happen, or is this something that is entirely up to the President's whim.
The reason its been bothering me is a few weeks ago I heard about a group of traders that slowly bought up millions of barrels of oil on the open market over a span of months. It was small purchases that normally are bought and sold quickly but in this case they held on to them until they had a very large amount. I don't remember the exact amount, but what I do remember is when they dumped them all on the market at the same time the price of oil plunged steeply. No one knew where this large amount of oil had come from, but the markets shift was both abrupt and quite large.
This group of investors planned for this and they had sold their oil short. In a very short amount of time they had made an incredible amount of profit, many hundreds of millions of dollars worth. The part of the story I remember most is the talking heads admitting that they didn't even know if any laws were broken by them doing this.
This brings me back to Obama and what he did that was almost exactly the same thing as these traders did. Since I don't trust the SOB further than I can throw him, my mind wandered as to who could benefit from knowing beforehand whether or not he tapped those reserves? Who exactly would know in advance of him making that announcement?
One phone call a day before the announcement could mean untold millions of profit for anyone in the markets who could sell short, like the group of investors did recently I mentioned. Is there any way of seeing if big time Obama supporters and donators places buy and sell orders before the announcement, gambling on sudden major drops in the price of oil?
Its horrible to think our own President capable of stooping this low, but I just can't see him passing up on an opportunity to enrich his backers so easily by not letting word slip to a few big traders. On another note since McCain/Feingold was struck down these companies can turn around and put some of this profit back into the Democrat election machine and still make a fortune.
This just all seems too easy to me, what am I missing here? Where is the checks and balances or oversight on decisions like this?
Do you mean an AFDB?
http://zapatopi.net/afdb/
Do something, even if it’s wrong
(note he dithered for two months and by the time he decided, the problem was already diminishing)
Election season has begun.
one component was to take global action with his 27 world comrades.
Payoff to Goldman Sachs oil traders to make sure they’ll get their bonuses this year.
Mine is WAY nicer that those...
Obummer did this because George Soro’s told him to do so. Soro’s wants to sell the replacement oil to the us at today’s prices. He will make billions of dollars from it. In turn he will fund Obmmer’s campaign again with plenty of money stolen from the American people.
This was all about money to Obummers friends. It will cost us billions or trillions.
That is exactly what I was thinking. Is there any way of determining if their trading patterns took a sudden turn just before the announcement? As Blago said - “I’ve got this thing, and its ******* GOLDEN, and if they think I’m just going to give it away, they’re crazy.” (paraphrasing)
Three reasons, make friends money, he was told to and told was good PR.
When it comes to the motives and agenda of Obama and his commie, radical cohorts and their agenda, NO thought, idea or theory is so outlandish that it would require a tin foil hat.
Remember who primarily funded Obama’s 2008 campaign. An evil billionaire that is also a known manipulator of currencies and of governments. Soros is the epitomy of every evil mastermind that has ever been portrayed in the comics or in fictional books and movies. Only....he’s real.
One possibility, certainly, is that some of the big-time insiders shorted oil just before the announcement, and then quickly covered.
Half the oil was released from the U.S. reserves, and half from the EU. That does make me wonder a bit about the short theory, since it would have involved quite a few more people knowing about it beforehand.
Another possibility is that he just wanted to look like he was doing something.
better poll ratings.
By jove, I think you’ve got it!
When all other possible explanations make no sense whatsoever, the one remaining explanation must be correct: that the Krook from Kenya did this simply to enrich a chosen few.
By jove, I think you’ve got it!
When all other possible explanations make no sense whatsoever, the one remaining explanation must be correct: that the Krook from Kenya did this simply to enrich a chosen few.
As an official Sorros butt boy, he was told to do it as it will weaken the country in the future.
The answer is easy: Obama will do anything to weaken America.
Releasing 30M barrels is literally a drop in the bucket. It may lower prices slightly for a week, but they will then climb back to where they started because there is no extra production to keep the extra oil in the marketplace.
This also means we will have to replace that oil at today’s market prices. So... we’ve lost some of our emergency reserve, we’re out more than we paid originally to replace it, and the final result is higher prices at the pump. A win-win-win if you’re an anti-American communist retard.
The price of oil was laready dropping in stages. In his usual bastardizing style, he merely tried to capitalize on the already clear trend so he could claim he was responsible for lowering our pump prices. Barry plans his day with an eye to how he can lie for best effect.
So it's not there when we really need it. From their point of view, there should be no SPR.
The SPR provides a way in case the SHTF to keep the domestic refineries going so as to supply our armed forces.
Our armed forces require a lot of refined petroleum to keep moving and be effective. The Left wants to cut us off and leave us completely vulnerable to foreign powers when the major conflict occurs.
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