on June 23, 2011 by ZooKeeper in Global Economic Meltdown, Uncategorized, Comments (1)
Why The Hell Are We Releasing Oil From Our Strategic Reserves To Help The IEA
Wow folks, this is pretty weird. This morning at 9:00am the International Energy Agency released an emergency press release from Paris. They announced that 60 million barrels of oil reserves will be dumped onto the global market. Ready for the crazy part? Half of the oil released (30,000,000) barrels are going to come from US oil reserves
None of the pros are sure of what to make of this but I have my theory and some traders hinted at it. High oil is derailing the global economy. We are trying to get oil lower. However, this is going to backfire on the morons running this country. If they make it appear as if we are even concerned about oil, it will go up on the fear trade.
SiliconJon
June 23, 2011 @ 3:02 pm
Great plan – we’ll call ie QOE (quantitative oil easing), and we’ll do it in three stages, until the reserves are empty, then catastrophe will strike (pumping, refinding, transportation facilities…) and we’ll be in for some real shit doom, but profits of the surviving suppliers will be epic.