Thursday, June 23, 2011

We all know what happens when you raid an emergency stash without a good reason...

The release makes little sense for American markets. Crude and gasoline inventories are above average, and crude and gasoline prices have been trending down for weeks, despite the loss of Libyan oil, which markets have already adjusted to. The SPR was intended to be used for supply emergencies. There is no supply emergency.
Obama to Dump 30M Barrels of Oil From Strategic Reserves

I guess Obama thinks his re-election is all the reason he needs to endager our country (because, why stop now)...

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