Everything Obama does is political, Why release Oil reserves now?

[hellofromwarsaw]

See, actually everything Obama does is for the good of the country, especially the nonrich. And you conspiracy ggeks are the poor tools of the greedy corporate megarich. Glad I could help.

 

[The Rabbi]

See, actually everything Obama does is for the good of the country, especially the nonrich. And you conspiracy ggeks are the poor tools of the greedy corporate megarich. Glad I could help.

If he wanted to do something for the good of the country he could resign. After he killed Joe Biden.

 

[The Rabbi]

See, actually everything Obama does is for the good of the country, .

The quesiton is which country?

 

[8537]

OK so you admit the price of oil was declining before Obama announced this decision.

Yes, that's a fact. Did the release lead to a further decline? Of course.


The size of the reserves change regularly as the government either adds to it or sells some off. This sale was a drop in the bucket and will return it to about the level of 2005.

And it's in the government's interest and that of the public to sell when the price is high and buy when the price is low.

If you want to go argue the policy ought to be different, go right ahead, turd-head.
So far you have had your ass kicked in this discussion. Are you going to stay around for more?

Ah yes, the keyboard kommando in full bloom! Nice, Rabbi. Showing your true colors (Which are white, of course. All white)

OK. So we can agree that Obama released oil at a time of declining prices. There was no interruption of supply, no threat, no skyrocketing crude prices. It was a ham-handed political move that endangers this country for short term political gain.

Please explain how it "endangers this country".

purpose of the reserve is for "strategic" use, i.e. when there is an interruption in supply. It is not a plaything for the gov't to play commodities speculator.

an "interruption in supply" is pointless since we would also experience an "interruption in refining capacity." The reserve would not serve our needs in the case of an actual, physical disruption, and its use is always related to supply constraints (another name for prices)

 

[Sallow]

See, actually everything Obama does is for the good of the country, especially the nonrich. And you conspiracy ggeks are the poor tools of the greedy corporate megarich. Glad I could help.

If he wanted to do something for the good of the country he could resign. After he killed Joe Biden.

Wishing the death of Joe Biden. Our Vice President.

Nice chief.

 

[hellofromwarsaw]

Brainwashed beyond belief- love that Pub propaganda/hate machine....

 

[editec]

I think he ought to dump even more oi on the market.

Break the speculators balls, O!

 

[The Rabbi]

Yes, that's a fact. Did the release lead to a further decline? Of course.


The size of the reserves change regularly as the government either adds to it or sells some off. This sale was a drop in the bucket and will return it to about the level of 2005.

And it's in the government's interest and that of the public to sell when the price is high and buy when the price is low.


Ah yes, the keyboard kommando in full bloom! Nice, Rabbi. Showing your true colors (Which are white, of course. All white)

OK. So we can agree that Obama released oil at a time of declining prices. There was no interruption of supply, no threat, no skyrocketing crude prices. It was a ham-handed political move that endangers this country for short term political gain.

Please explain how it "endangers this country".

purpose of the reserve is for "strategic" use, i.e. when there is an interruption in supply. It is not a plaything for the gov't to play commodities speculator.

an "interruption in supply" is pointless since we would also experience an "interruption in refining capacity." The reserve would not serve our needs in the case of an actual, physical disruption, and its use is always related to supply constraints (another name for prices)

It reduces the emergency supply the US has.
We have refineries here in the US. We do not have large supplies of crude in the US.

You're flagging here.

 

[The Rabbi]

I think he ought to dump even more oi on the market.

Break the speculators balls, O!

You're assuming gov't bureaucrats are smarter than people who trade oil every day for a living. SOmehow I doubt that.
But if the fantasy of "sticking it to da man" appeals to you, go for it.

 

[The Rabbi]

Brainwashed beyond belief- love that Pub propaganda/hate machine....

That's all you got. Insults. You fail on every factual issue.

 

[Harry Dresden]

Think about how stupid the OP question is for a moment? Obama is our democratically elected president, he is the leader of the nation and as the leader of the nation all he can do is engage in politics. That's what he is there for, the idiots who use this empty criticism are really saying they don't like the politics of our president but don't have the balls or intelligence to understand whether any particular political act is the best we can do. When all you do is whine and throw stones as the right does, you quickly understand why in power they are such failures, out of power they cry like little children.

Midcant yes or no......does the Left Whine and throw stones also?.......

 

[8537]

It reduces the emergency supply the US has.

...To levels equivalent to 2006. And it's about 5% of reserves. Oh, and it's not guaranteed immediate delivery

We have refineries here in the US. We do not have large supplies of crude in the US.

our refineries are near capacity, which explains why so much of our crude is refined outside the US.

You're flagging here.

...more keyboard kommando!

 

[8537]

Brainwashed beyond belief- love that Pub propaganda/hate machine....

That's all you got. Insults.

The irony in this statement does not go unnoticed.

 

[thereisnospoon]

I think he ought to dump even more oi on the market.

Break the speculators balls, O!

Before you post, do your homework.
Commodities traders do not care in which direction prices go.
They can trade up or down.
SO if the President or whomever decides to do something to manipulate the price of oil, the traders jump on it and they make money.

 

[thereisnospoon]

Why wouldn't we sell at the highest possible price?

We can start with, we didn't. Oil has already come down.

It's coming down because the reserves are being sold. That will happen any time a large amount of a commodity is sold.

As noted here many times.
Second, the strategic petroleum reserve is not a commodity speculation fund for the government. It is there for a very specific purpose. And shoring up presidential ratings isn't it.

So in your opinion the government shouldn't use the strategic reserve to moderate speculation, protect the economy and draw a profit? Oh wait, Obama did it...nevermind.

Answers to your question.....No and No..
The SPR exists for national emergencies such as major supply interruptions due to natural disasters such as Katrina. Or in case of war or insurgency.
The Reserve is not a political tool for the chief executive.
The size of the SPR release by Obama last week was just two days worth of US Consumption but it will take 3 weeks to replace it. By law that oil MUST be replaced.
Obama was simply trying to shore up his political base.
It didn't work.

 

[8537]

We can start with, we didn't. Oil has already come down.

It's coming down because the reserves are being sold. That will happen any time a large amount of a commodity is sold.

As noted here many times.
Second, the strategic petroleum reserve is not a commodity speculation fund for the government. It is there for a very specific purpose. And shoring up presidential ratings isn't it.

So in your opinion the government shouldn't use the strategic reserve to moderate speculation, protect the economy and draw a profit? Oh wait, Obama did it...nevermind.

Answers to your question.....No and No..
The SPR exists for national emergencies such as major supply interruptions due to natural disasters such as Katrina. Or in case of war or insurgency.
The Reserve is not a political tool for the chief executive.
The size of the SPR release by Obama last week was just two days worth of US Consumption but it will take 3 weeks to replace it. By law that oil MUST be replaced.
Obama was simply trying to shore up his political base.
It didn't work.

Well, I appreciate you admitting that it was a tiny portion of the reserves - which we can now replace at a lower price.

 

[thereisnospoon]

Why is a limp-wristed piece of shit like you showing off a pic of a bike? I'd run you over with my hog, shithead.

Interesting to note that while in 2008 when gas and oil prices spiked to historic highs, the democrats and their useful idiots in the MSM blamed Pres Bush, using a link between the Bush family to the oil business.

Gee....whatta shame you couldn't find any data (from 2008) to support your allegation....mostly 'cause your allegation is Teabaggin'-bullshit.​

August 20, 2008​

"Was the recent spectacular rise, and subsequent fall, in oil prices driven by $peculation?

....The CFTC, which learned about the nature of Vitol's activities only after making an unusual request for data from the firm, now reports that financial firms speculating for their clients or for themselves account for about 81 percent of the oil contracts on NYMEX, a far bigger share than had previously been stated by the agency."

OIL SPECULATION​

You Teabaggers ENJOY making fools o' yourselves????

​

I hope somebody driving a tractor trailer runs over that stupid motorcycle.

 

[8537]

I hope somebody driving a tractor trailer runs over that stupid motorcycle.

Stay classy.

 

[thereisnospoon]

Think about how stupid the OP question is for a moment? Obama is our democratically elected president, he is the leader of the nation and as the leader of the nation all he can do is engage in politics. That's what he is there for, the idiots who use this empty criticism are really saying they don't like the politics of our president but don't have the balls or intelligence to understand whether any particular political act is the best we can do. When all you do is whine and throw stones as the right does, you quickly understand why in power they are such failures, out of power they cry like little children.

"This is going to sound sort of obvious, but here we go: A study from University College London published this week in Current Biology has discovered that there are actually differences in the brains of liberals and conservatives. Specifically, liberals' brains tend to be bigger in the area that deals with processing complex ideas and situations, while conservatives' brains are bigger in the area that processes fear." Liberal Brains Bigger in Areas of Complexity; Conservative Brains Bigger in Areas of Fear - Culture - GOOD

We don't pay the Chief Executive to do his best. We pay him to lead and do the right things.
What your piss poor excuse making enabling comment does is give you comfort in your 2008 vote for Obama.
"A study".....Paid for by whom? Please.
With enough money anyone can fund a study that fulfills or advances their political agenda.
Political polls and or studies are nothing more than phone solicited movie review blurbs.
When intelligent people ran Washington and journalists had some integrity, polls and studies were conducted to take the national temperature on the events of the day.
Now polls and studies ARE the news. They are the news because people in the news delivery business have figured out that most people choose to be uninformed. So polls and studies are used by policy wonks and political groups in order to tell their target audience what to think.. You are one of their victims.

 

[thereisnospoon]

Ah yes, Rabbi vs. myriad analysts who actually know what they are talking about! I'm sure it's hard to admit you're wrong about Obama from behind the white sheet.

And why would we NOT use the reserve to moderate speculation and draw a profit? I'm still waiting an explanation...

OK so you admit the price of oil was declining before Obama announced this decision.

Yes, that's a fact. Did the release lead to a further decline? Of course.

The purpose of the "strategic" reserve is just that: to serve the national interest in times of crisis when crude might become unavailable.

The size of the reserves change regularly as the government either adds to it or sells some off. This sale was a drop in the bucket and will return it to about the level of 2005.

And it's in the government's interest and that of the public to sell when the price is high and buy when the price is low.

If you want to go argue the policy ought to be different, go right ahead, turd-head.
So far you have had your ass kicked in this discussion. Are you going to stay around for more?

Ah yes, the keyboard kommando in full bloom! Nice, Rabbi. Showing your true colors (Which are white, of course. All white)

when people ignore the facts they tend to look stupid. You are ignoring the facts.
You are arguing your objection to the SPR policy.
If you were on top of things, you'd have posted how you'd like to see the federal government issue oil drilling leases in ANWR, off shore and in the high plains where oil is readily recoverable. The royalties alone would solve a majority of the government deficit problem.
So please, your excuse making for Obama's political gaffe is really sickening. Just stop it.
The guy fucked up and that's that.....