U.S. to release 30 million barrels from Strategic Petroleum Reserve

Discussion in 'Free Speech Alley' started by mobius481, Jun 23, 2011.

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  1. red55

    red55 curmudgeon Staff Member

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    It's going to lower oil prices, obviously. Since when is that nothing?
     
    red55, Jun 23, 2011
    #11
  2. TwistedTiger

    TwistedTiger Founding Member

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    PR move and absolutely nothing more.
     
    TwistedTiger, Jun 23, 2011
    #12
  3. LSUpride123

    LSUpride123 PureBlood

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    OBAMA 2012
     
    LSUpride123, Jun 23, 2011
    #13
  4. LaSalleAve

    LaSalleAve when in doubt, mumble

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    Is it really going to lower oil prices? How about just putting an end to the speculators?
     
    LaSalleAve, Jun 23, 2011
    #14
  5. red55

    red55 curmudgeon Staff Member

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    Oil prices are about supply and demand. Increase the supply and the price goes down.
     
    red55, Jun 23, 2011
    #15
  6. TwistedTiger

    TwistedTiger Founding Member

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    Oil prices were already on their way down and this is just a drop in the bucket. It will have very little effect and will be very short term. It was a meaningless PR move.
     
    TwistedTiger, Jun 23, 2011
    #16
  7. mctiger

    mctiger RIP, and thanks for the music Staff Member

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    Oil Consumption in North America

    So, he taking out a day and a half's worth of oil. I'm no economist, but I really can't see how that's going to have any significant impact on prices.

    This accomplishes nothing; its grandstanding. And, surprising no one, you think its a good idea. :dis:
     
    mctiger, Jun 23, 2011
    #17
  8. tirk

    tirk im the lyrical jessie james

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    because dude. if prices continue to drop as they have, guess who takes credit. this is the same dude who said he created 2 million private sector jobs when unemployment hit 10%.
     
    tirk, Jun 23, 2011
    #18
  9. SabanFan

    SabanFan The voice of reason

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    Well then...Red wins.
     
    SabanFan, Jun 23, 2011
    #19
  10. mctiger

    mctiger RIP, and thanks for the music Staff Member

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    You're too smart to really think that an extra day and a half's worth of supply is going to have any kind of meaningful effect on the price.
     
    mctiger, Jun 23, 2011
    #20
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