Obama Releases 30MM Barrels from the SPR --- OIL Nosedives (government, 2013)
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
This is great news and is already having the desired effect. This sends a message to the speculators to get out now or be crushed and it sounds like they have gotten the message. And if they don't get the message, we have another 7 billion barrels we can drop on the market. Speculators beware: take your profits now and head for the exits.
Those who think that more drilling in the US would lower prices are wrong. Domestic production is only profitable when prices are high. If you get the prices down to where most Americans are happy, no one will be interested in drilling in the US.
This is great news and is already having the desired effect. This sends a message to the speculators to get out now or be crushed and it sounds like they have gotten the message. And if they don't get the message, we have another 7 billion barrels we can drop on the market. Speculators beware: take your profits now and head for the exits.
Those who think that more drilling in the US would lower prices are wrong. Domestic production is only profitable when prices are high. If you get the prices down to where most Americans are happy, no one will be interested in drilling in the US.
Um.. no, oil speculators can speculate on the oil price going up, or down.. The price of oil doesnt stop speculation from going on, no different than the price of a stock stops options from trading.. It just changes the execution price
the release of the oil reserves did bring the price of BARREL of oil down but otherwise it won't do much... its not going to have any significant lasting effects... its like someone said we going to add 10 ml to 1000 ml... whoopee doo.... I am not sure why he is releasing the surplus considering it won't have any significant effect... was he hoping it will drop the price of gas? Not likely... is he hoping it will make OPEC produce more? Not going to happen... so I don't know why ppl think its a strategic move considering it really won't do anything...
Um.. no, oil speculators can speculate on the oil price going up, or down.. The price of oil doesnt stop speculation from going on, no different than the price of a stock stops options from trading.. It just changes the execution price
They can short oil all they want. No problem there.
jeez, your gas prices are about to plummet and you go on about George Soros.
are you serious http://thankyoubasedgod.com/forum/images/smilies/drakehah.png (broken link)
You understand a symbolic move, right? They are showing the speculators that they have the will to crush them. They could start releasing 30 mil barrels a day and speculators would lose everything. What happens when the reserve runs out doesn't much matter.
Oil down over 5% to $90/bbl. Obama pulling out all the stops...releasing 30 Million barrels and pulling 30k troops.
Speculators crushed.
Effectively a major tax cut.
Wall Street reverses sharp sell-off after Greek deal - Yahoo! Finance (http://finance.yahoo.com/news/Wall-Street-drops-at-open-on-rb-3592006168.html;_ylt=Aml0t2ny9ebrzj4GTefXpKa7YWsA; _ylu=X3oDMTE1amdvZ2FuBHBvcwMzBHNlYwN0b3BTdG9yaWVzB HNsawNkb3dmYWxsczIwMG8-?x=0&sec=topStories&pos=main&asset=&ccode= - broken link)
Effectively a major campaign ad for Obama's "re-election" funded by all of America. Anyone unable to see what this really is, should have their guardian pick up an ample supply of Pamper's for their future use.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
... down to $89 now, it's in free-fall. Brent Crude down over 6%. Gas should be back at around $3/gallon in no time.
