!!! Breaking, IEA to give emergency press release at 9am !!!

Hey Folk, I am the OP on this, I wrote an article today on how this will actually cost us money, I am pasting it in below:

Why Releasing Oil From The Strategic Reserve Will Cost The US Money

Yesterday, the IEA announced that it will be releasing 60 million barrels of oil onto the world markets. The United States will contribute half of this, 30 million barrels, from our strategic petroleum reserve. Most commodities traders are already agreeing that this will only make a short temporary dip in oil prices. However, nobody is telling you why it will cost the tax payers money.

The US will actually sell the oil from our strategic reserve onto the market. We will have to buy the 30 million barrels back in the future to put back into the strategic reserve. The IEA announcement yesterday drove down the price of oil, so we will be selling our oil onto the market at discounted prices. When we go to buy the oil back to replenish our reserves, we will most likely end up paying more for the oil than we sold it for. Therefore, we dig ourselves deeper in debt yet again.

[link to www.navigatethezoo.com]

YES WE CAN!

Last Edited by Revbo™ on 06/24/2011 12:02 PM

it really is dumb idea...it was intended for emergency use only...it reeks


the world uses 85 million barrels per day

so total release of 60 is 3/4 of a days use

30 from SPR is less than 2 days use for US
US uses 19 million day

why the fuck is there a thread pinned that just tell exactly what my article from this thread said days ago, this is shit folks.

Mods will you please look at the thread pinned and the article and comments on the first page of this, its saying the same thing meaning this thread called that shit days ago, thanks

thanks guys and thanks mods, that rip off thread is unpinned, that was wicked fast, way to go glp

No its still pinned but here is the article that beat zerohedge and everyone else out there

[link to www.navigatethezoo.com]

So how did releasing that oil go, what we should do is threaten to blockade the gulf and drill the shit out of our own stuff and then we wont need the star wars sand people anymore.

I am the OP, in my article from my website, [link to www.navigatethezoo.com] , that was pinned in this thread, I said that oil would go up despite as a result of tapping the strategic petroleum reserve. Look today baby, West Texas Crude is going up, way to go dumbass federal government.

BTW: to Mr. Durden at zerohedge, you better quit taking coffee breaks, I beat you to the punch again.