Analyst: Tapping Oil Reserves Helped China More

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Canceled2

Banned
More incompetence from the our Commander in Boob~

Not only are gas prices starting to creep up 12 days after President Obama tapped the U.S. Strategic Petroleum Reserve to relieve price pressure, but China and other foreign markets likely benefited more than American drivers, according to an analyst's blunt new report. [Strategic Oil Reserve Release Could Give Brief Economic Stimulus]

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pure politics and repubs would be retarded if they don't beat him over the head area repeadely with this stick.

I remember when his numbers were hitting similar low's a year or so ago he started promising more domestic production. When he's in trouble he channel's Reagan, then he pusses out.
 
Ice Dancer said:
More incompetence from the our Commander in Boob~

Not only are gas prices starting to creep up 12 days after President Obama tapped the U.S. Strategic Petroleum Reserve to relieve price pressure, but China and other foreign markets likely benefited more than American drivers, according to an analyst's blunt new report. [Strategic Oil Reserve Release Could Give Brief Economic Stimulus]

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Obama releasing oil from the strategic reserves was stupid, but criticizing the move because it "benefits China" is exponentially stupider.

It's akin to a left-winger opposing an increase in domestic oil production on the grounds that any increase in global oil supply attendant to a increase in US production would benefit China. Stupid.
 
David St. Hubbins said:
Obama releasing oil from the strategic reserves was stupid, but criticizing the move because it "benefits China" is exponentially stupider.

It's akin to a left-winger opposing an increase in domestic oil production on the grounds that any increase in global oil supply attendant to a increase in US production would benefit China. Stupid.
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With China owning most of our foreign debt it is not a stupid reaction to "look" at who actually benefited. Since oil is traded in US currency it is exponentially stupid to not see how that helped China and did nothing to help us. It is important, because it highlights the incompetency of this presidents knowledge, of how trade works. The president is an idiot in chief.
 
Did you whine when the Bushes (father and son) also tapped the SPR?

I'm guessing.....not.
 
Ice Dancer said:
With China owning most of our foreign debt it is not a stupid reaction to "look" at who actually benefited. Since oil is traded in US currency it is exponentially stupid to not see how that helped China and did nothing to help us. It is important, because it highlights the incompetency of this presidents knowledge, of how trade works. The president is an idiot in chief.
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You are yet to demonstrate expertise in the field of business and international trade yourself.
 
Lowaicue said:
You are yet to demonstrate expertise in the field of business and international trade yourself.
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I don't have to be an expert to understand basics Low. You have yet to demonstrate an understanding of much of anything except how to be a caustic asshole..but I digress, in that, you are an expert :D
 
in my opinion they really fucked up the release........they announced it ahead of time and only sold 2 million barrels a day........they should have sold a half billion barrels at $100 a barrel the first day and bought them back at $80 the second.......
 
Ice Dancer said:
I don't have to be an expert to understand basics Low. You have yet to demonstrate an understanding of much of anything except how to be a caustic asshole..but I digress, in that, you are an expert :D
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It has taken a lifetime of study and practice. I'm glad you are able to recognise the results.
But it would be a boring world without us caustic arseholes. A bit like America, I guess, where no one is allowed to be a loser and a hug has become a common greeting.
 
Lowaicue said:
It has taken a lifetime of study and practice. I'm glad you are able to recognise the results.
But it would be a boring world without us caustic arseholes. A bit like America, I guess, where no one is allowed to be a loser and a hug has become a common greeting.
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I only hug those I know well- except for the goofy bliss ninnies, rarely do strangers hug one another in greeting in America. It has been American liberals who have made our society a PC zoo of intellectual insipidness where everyone's a winner and there are no losers.
 
Ice Dancer said:
I only hug those I know well- except for the goofy bliss ninnies, rarely do strangers hug one another in greeting in America. It has been American liberals who have made our society a PC zoo of intellectual insipidness where everyone's a winner and there are no losers.
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Seems cultural to me (strange word to use when talking of the US) not political.
I'm glad you are not a hugger. It means that should we ever meet we could simply nod in the general direction of the other and continue with our beer. I like that.
 
Lowaicue said:
Seems cultural to me (strange word to use when talking of the US) not political.
I'm glad you are not a hugger. It means that should we ever meet we could simply nod in the general direction of the other and continue with our beer. I like that.
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LOL...whatever Low~
 
Ice Dancer said:
With China owning most of our foreign debt it is not a stupid reaction to "look" at who actually benefited. Since oil is traded in US currency it is exponentially stupid to not see how that helped China and did nothing to help us. It is important, because it highlights the incompetency of this presidents knowledge, of how trade works. The president is an idiot in chief.
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As Dung stated, it was stupid to release the oil. But bottom line, it didn't help ANYONE. The author of your piece is saying that because China is the #1 consumer (by about 0.1%) THAT is the reason it helped China more. It is a stupid argument.
 
Word on the Street is Obama was trying to burn speculators which he might have.

Kinda retarded to artificially restrict supply of a key product then try to intervine in free markets.
 
Superfreak said:
As Dung stated, it was stupid to release the oil. But bottom line, it didn't help ANYONE. The author of your piece is saying that because China is the #1 consumer (by about 0.1%) THAT is the reason it helped China more. It is a stupid argument.
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As the author stated- it helped China more then it helped anyone-including us. His point and mine, is that the release was purely political. He further stated that we, the American public, paid the cost to release it without any real benefit. But thanks for your astute insight~
 
Ice Dancer said:
As the author stated- it helped China more then it helped anyone-including us. His point and mine, is that the release was purely political. He further stated that we, the American public, paid the cost to release it without any real benefit. But thanks for your astute insight~
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No question it was political. But I think Toppy is far closer to the truth than the author trying to say China benefited more. If someone was fully hedged in oil futures betting on the up side, they got their ass kicked. That said, most pro's are not going to tend to have everything tied into one type of contract, nor do they tend to not be able to absorb swings of 5-10% (especially when they KNOW the move is based on short term stupidity of the government)
 
The Dude watches CNBC & Bloomberg daily before the wake n Bake!!

Not one economist or commentator referenced China, catching speculators with thier pants down was a benefit brought up several times, most didn't think emergency conditions warranted were sufficient.
 
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