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Did you just buy Puts in $Oil because you believed that Obama will use the US Oil Reserves?

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LOL fat chance, they just say that to scare off oil bulls.

If Obama was so worried about $Oil prices he would order drilling Oil in the Gulf of Mexico deep water ASAP. 

Chances they use US Oil Reserves? Less than 1% in my opinion.
If they didn't use it during the time when Saddam was burning Oil Fields in Iraq then they won't do it now.

Its for emergencies AKA "WAR disruptions" not price swings.