Realcent.org

Looks like QE3 came through the back door yesterday with Obama authorizing the release of what will end up being 60 million barrels of oil from the emergency reserve. Obviously this will lower the price of oil at least short term but will this effect overall commodity prices?

The real question is, how does this benefit Goldman Sachs?

Our economies run on money and energy. Cheaper money didn't work, in fact it made energy more expensive. Time to try something else.

The problem is that they can not print oil.

All that "strategic" oil must be replaced sometime in the future.

fasTT wrote:The problem is that they can not print oil.

All that "strategic" oil must be replaced sometime in the future.

Part of how Clinton "balanced the budget". He used up consumables stored for future emergencies.

I thought saudi arabia was going to increase their output by a lot in order to drop the price. I don't see why this is needed at all. Oil prices should drop soon because the sauds want to bankrupt Iran to keep them from obtaining nukes.

It's ridiculous political posturing, and a waste of those reserves in order to release something like 16 hours worth of global consumption. Meaningless. Though it's possible they can actually make money on it by selling high and re-filling the reserves again at a lower price. I think they did that before, so since they have decided to do this I hope they can at least be smart about it.

Why not, its not like when a disaster hits and oil is hard to get you will get any of that oil in that type of condition. The popo and plastic people will be driving not us. The oil is ours to begin with and alot of people miss driving around aimlessly give em a break.

I'm pretty sure this oil shortage thing is just an excuse for corprate husks to raise prices and cut quanity so the stockmarket can go up. Gas is high, but people still buy.

Or maybe it's just the wonderful government profiting while the prices are high because they know the barrels have to be replaced later anyway at a lower price. Of course that's just if you take the political motive out of it.

There could be a legitimate low supply flow right now, but business dictates you capitalize as much as possible. Whats good for all big business? raising prices as much as possible and cutting portion.

The price of socks was 10 pairs for 5.50 earlier this year, now 5 pairs for 5.50 b/c cotton went up 5.00 per ton. The cotton in 10 pair of socks is less than a .50 so how did that work? Mister suit says it is b/c cotton went up dramaticly.

Milk that tet, lie like hell

But like most people say after they get one over on you, Nothing personal just business.

With the republican line up this year I think I'm converting to communism.

Ron Paul is still calling himself a Republican. Don't like his Constitutionally-based philosophy? Can't be any worse than the 2 party nonsense we have endured since the days of Woodrow Wilson, the puppet of Col. House.