Skip to comments.The Strategic Petroleum Reserve Release Has Now Been Fully Priced In As Crude, Gasoline Surge
Posted on 06/28/2011 2:28:24 PM PDT by mojito
Remember how 4 very long days ago, the 60 million barrel SPR release was vaunted as being the reason for the second consumer renaissance after it was largely expected it would lead to sub $90 crude, and low $3/gallon gas, and result in every Joe Sixpack going out and buying 3 houses at least? Well, so much for that: the IEA's [International Energy Agency] action has now been fully priced in and WTI [West Texas Intermediate] is back to precisely where it was before the IEA announcement on Thursday.
(Excerpt) Read more at zerohedge.com ...
This WH's track record of economic success is truly astounding.
knew this was coming
worked about as well as the “stimulus” (and for largely the same reasons)
Just like the Feds can print more money, Obama can continue to release the reserve.
Obama hasn’t got a clue ,and evidently neither do his advisors.
It was all political anyway and he gave the imression he cared. That’s all that count in the end. For Obama.
If 60 million did not work, obviously we need to release 120 million in to the supply!
That was, uh, unexpected.
What a load of crap.
Follow any profits made from this ‘deal’ directly to the zer0’s largest campaign contributors.
My first grade grand-daughter has more economic sense than all of the so-called experts.
I just learned last week that "insider trading" rules do not apply to congress. Members of congress have an astounding investment track record vs. the market averages. No wonder so many come in upper middle class and leave as potentates.
>>> No wonder so many come in upper middle class and leave as potentates.
And their earning power does not stop even after they left their seats.
And you wonder why so many want to run to ‘represent you’.
Gee, and I though Zero’s plan would work! /s/
Next November can’t come soon enough!
spending millions for a job that nominally “pays” 140 grand
So was the Obama administration just trying to generate revenue for the federal government?
Obozo gets smacked upside the head by the invisible hand.
“spending millions for a job that nominally pays 140 grand”
Spend millions of someone else’s money, paying your “expenses” during the campaign from their money, etc.
I could live with $140 grand (actually, it is $174,000)
Heck, by close of business Friday it was back up to the same price it was on Monday.
Just like the rest of what this bunch of meat heads does... it is a joke and they know it.
You can’t print more oil.
Once again, Obama has told the private sector that there is no climate of stability or predictability. Now go hire!