Not even close. For one, this is not "barry's" doing, its a cooperative, coordinated effort by the IEA (U.S. and European energy officials). Two, this is a move aimed directly at oil speculators. It's not politics, it's solely about driving oil speculators out of the market, and it'll work. With the IEA dumping two million barrels a day onto the market, how many speculators are going to be comfortable betting long on oil? None. Instead of $110 or $120 a barrel oil, we'll see oil trading around the $90 a barrel soon, and into the mid- or high $80 range before too long.
Not Obamas doing wow so the US has to do what the IEA says???? It is political and Barry is only doing this to help his re-election just like his time table for troops coming home is political and not based on Military strategy
Wow so you're saying that the IEA has to do what Obama says? They don't, and we don't. That's why I called it "a cooperative, coordinated effort", because, you know, it was a cooperative effort in which people agreed to do it, and in which the releases are to be coordinated.
Yeah, um, OK, if you say so. This is so far away from the presidential election that it makes no political sense whatsoever to do this for political reasons. The lower energy prices from this thing will be too short-lived to benefit Obama for re-election, anyway. This is a short term smackdown of speculators to quickly get pricing under control to price at which oil should be trading, which is about $20 less than it was trading at yesterday. IEA members have conducted coordinated releases of emergency stockpiles on two other occasions since the group was founded in 1974. The first was during the 1991 Persian Gulf War, and the second was in the aftermath of Hurricane Katrina in 2005. Those weren't any more political than this one is.
No but you seem to say that Obama has to do what the IEA tells its members to do. Wrong Obama makes the choice for America to go along and mostly to help his re election and anybody that thinks this will keep prices down for long is dreamingSorry but I have to disagree .....
as was reported on the BBC
"The price of oil has fallen after the International Energy Agency said that its members will sell some of their reserves on the world market"
Unless of course you are saying that the President strong armed the IEA into doing this for political reasons
As always IMO
You are correct the lower price will be short lived but he can point back to it during his campaign and say look I tried to do something and if you think he did not consider how it would or not help his poll numbers you must be blind
LOL...just another, "look what i am doing for the people" moment for barry that will have nothng but a short term drop in the price of a barrel of crude....politics and nothing more..LOL, that 30 million barrels he is releasing, we as a nation use that much in 1.5 days....
OK, you got me. It's all about the president and his re-election campaign. Same as it was in 1991 and after Katrina. You win. I'm blind.
