The price of oil will not go down.
Doesn’t anyone believe that OPEC has already factored this release into the supply allotment?
Having worked there for over 9 years...you are correct...it will be a blip on the radar. You could flush the whole SPR system,flood the refineries and Obammy will export most of it and it will be over in 28 days with NO reserves.
Seems to me that oil prices are based on futures. As long as Obama is President the future is bleak and the price will remain high...regardless of supply! If it looks like Obama is losing the prices will drop like a stone...and then level because biz and demand will pick up if it looks like he is losing! Right now oil speculators are betting he will win!