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A release of strategic oil reserves is not warranted by market conditions at this time, says IEA...

A release of strategic oil reserves is not warranted by market conditions at this time, says IEA head Maria Van Der Hoeven, calling the market "sufficiently supplied" and reminding the stocks are there to bridge serious disruptions. Yesterday, chatter hit that the WH (or is it the reelection campaign) is considering an SPR release.
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Comments (6)
  • youngman442002
    , contributor
    Comments (5131) | Send Message
     
    That does not mean Obama will not release them.....desperate men do desperate things
    17 Aug 2012, 11:49 AM Reply Like
  • Denny_Chasteen
    , contributor
    Comments (700) | Send Message
     
    Good point youngman. This indicates that Obama has gotten trigger happy. This may have broader implications to signal QE3 could be on the way for September.
    17 Aug 2012, 01:08 PM Reply Like
  • geologist
    , contributor
    Comments (372) | Send Message
     
    Obama will release SPR crude for one reason, for his re-election, period. Anyone that thinks he would do it for other reasons doesn't understand the oil industry. If he wants prices lower at the pump he would have the country build more refineries. Enough. Regards
    17 Aug 2012, 01:17 PM Reply Like
  • phxcrane
    , contributor
    Comments (483) | Send Message
     
    I'm amazed at how many people don't realize that very fact. Most are quite ignorant of why gas goes up. The politicians have done a wonderful job demonizing the oil companies. People love to have something to rail against.
    17 Aug 2012, 03:14 PM Reply Like
  • patcobill
    , contributor
    Comment (1) | Send Message
     
    Agree. If I had his record, I would do it. The average person will not fully understand why it is not the proper time based on data. It will be viewed as trying to "help" average Joe.
    17 Aug 2012, 03:23 PM Reply Like
  • Brian Bobbitt
    , contributor
    Comments (2007) | Send Message
     
    I weep for our dead soldiers. I weep for America. When we are gone, and it will happen soon, the "New Dark Ages" will be upon the world.
    If only I were smarter, I would run against both of them.
    We have met the enemy, and he is us.
    Capt. Brian
    The Lost Navigator
    17 Aug 2012, 10:50 PM Reply Like
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