percysunshine
Diamond Member
1.5 days of US consumption?
So by Monday, things will be back to normal.
So by Monday, things will be back to normal.
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0bama is a wall street speculator now? sheesh...
You didn't answer his question....
Did so. Not my problem you did not understand.
Did not. Not my problem you think you did.
So am I to get this straight. The very same liberals. Who have told us over and over that drilling for Oil In ANWAR for example. Will not lower prices, are now going to tell us that releasing a measly 30 Million Barrels of Oil, Will lower prices?
Really is that what you would have us believe?
Liberals are the speculators on Wal street?
They are driving the price down right now not liberals.
0bama is a wall street speculator now? sheesh...
Stop being so oblique.
Liberals are the speculators on Wal street?
They are driving the price down right now not liberals.
You didn't answer his question....
Did so. Not my problem you did not understand.
I guss he must be behind in the polls.
You didn't answer his question....
Did so. Not my problem you did not understand.
No you didn't. You clearly did not understand it at all.
See above post. Of course it is speculators that drive prices up and down, the point is Liberals, and OBAMA tell us that drilling for more of our own oil which will add more supply. WILL NOT LOWER the price at the pump, YET NOW liberals and Obama are saying that this release by Obama will help lower Prices at the pump.
If you can't get it, you are indeed slow.
look, we have had debates here on drilling and I clearly remember people going off, denigrating opening up another patch in say, Anwar for a measly 500k or 1 million barrels a day for oh 5 years didn't make a difference yet here we are, THIS s supposed to make a difference?
I guss he must be behind in the polls.
Behind who?
Actually it's 60 million. 30 million from the US and 30 million from other countries.So am I to get this straight. The very same liberals. Who have told us over and over that drilling for Oil In ANWAR for example. Will not lower prices, are now going to tell us that releasing a measly 30 Million Barrels of Oil, Will lower prices?
Really is that what you would have us believe?
Actually it's 60 million. 30 million from the US and 30 million from other countries.So am I to get this straight. The very same liberals. Who have told us over and over that drilling for Oil In ANWAR for example. Will not lower prices, are now going to tell us that releasing a measly 30 Million Barrels of Oil, Will lower prices?
Really is that what you would have us believe?
Let me get this straight....the right attacks Obama when oil prices are too high. They come down, but they give Obama no credit. And now through this move, oil prices are dropping sharply, and the right attacks Obama again. Is that about right?
Thursdays surprise release of 60 million barrels of crude reserves is not about keeping oil consumers well supplied. Its about chasing oil speculators out of the market. And it seems to be working. This is the straw that breaks the camels back this is the tipping point, said Fadel Gheit, oil analyst for Oppenheimer, a leading investment bank. The speculators will have to change their positions. Instead of betting on higher prices they have to bet on lower prices."
In a coordinated move, U.S. and European energy officials announced they would release 60 million barrels of oil from strategic stockpiles over the next month after OPEC failed this month to agree on an increase in production. Those extra OPEC barrels were supposed to replace crude output lost when civil war in Libya shut down production. "This supply disruption has been underway for some time and its effect has become more pronounced as it has continued," said the International Energy Agency in a statement. It said expectations were that Libyan production would remain off the market for the rest of 2011. "Greater tightness in the oil market threatens to undermine the fragile global economic recovery," it said.
But independent analysts said the move was aimed more at bursting the speculative bubble rather than substantially improving market supply. Lowering oil prices further would help boost the weak U.S. economy at a time when both the Feds monetary stimulus and the governments spending stimulus are winding down. Based on the market's immediate response, the plan seems to be working.
News of the oil release sent gasoline tumbling 14 cents a gallon in the futures markets. Thats the equivalent of about $56 million a day in savings at the gas pump or about $20 billion a year, according to Peter Beutel, and oil analyst a Cameron Hanover. In New York trading crude oil was down $4.01 to $91.40 a barrel, more than 20 percent below peak levels of $114 hit in early May. Its a shot in the arm for the economy, said Beutel. It acts like a massive tax rebate to the American consumer.
More Surprise oil release targets speculators - Business - Going Green - msnbc.com
You're right it was barrels not dollars.Actually it's 60 million. 30 million from the US and 30 million from other countries.So am I to get this straight. The very same liberals. Who have told us over and over that drilling for Oil In ANWAR for example. Will not lower prices, are now going to tell us that releasing a measly 30 Million Barrels of Oil, Will lower prices?
Really is that what you would have us believe?
No--our stategic reseveres are in THIS COUNTRY--not Brazil-- It's 30 million barrels--out of our reserve of 737 million.
This is nothing more than political advisors of Barack Obama telling him to do it--in this attempt--to throw a HAIL MARY PASS--because his approval numbers have plummeted several points in the last two weeks.
Unemployment still high and going higher--after Obama has borrowed and spent over 1 trillion dollars trying to micro-manage it.
BTW--Obama claiming that we are drilling more in this country than ever? He conveniently forgets to mention that those permits to drill--came from the Bush admininstration.
So let me get this straight.
Its okay for privately owned corporations to make money on the flucuation of commodities.
Its okay for private corporations to make money by investing in foreign enterprises that compete with onshore businesses.
But it is NOT OKAY for the people government to buy kow and sell high, or to invest that will not share the wealth with the nation do?
Now there's a telling example of just how much some of you self proclaiming libertarians, conservative or lovers of sham Capitalism really fucking HATE this nation and its people.
Seriously, why do you people HATE your neighbors os much?
What are you so afraid of, really?
Why did obama do this? To increase the supply and ease the high price of oil/gas right?
Hmmmmm....so why doesn't he just push for us drill more to do this?