Obama and his minions are a pathetic joke. The U.S. consumes 18.5 million barrels of oil per day. He really thinks he is going to destroy Russia and put Putin in his place by releasing six and a half hours worth of oil onto the market? Oil was trading at $99 per barrel prior to this brilliant move by the Savior. It is now trading at $98 per barrel. I’m sure Putin is quivering with fear as he has more than twice the oil reserves of the U.S. If Putin wants to show Obama how it’s done, he could announce mobilization of his armed forces and the price will hit $105 in an instant. Watching an empire in decline is fascinating. It’s like slowing down to watch a gory traffic accident.
Take That Putin: US To Release 5 Million Barrels From Strategic Petroleum Reserve In “Test”
Submitted by Tyler Durden on 03/12/2014 10:26 -0400
WTI crude prices are faling rapidly as Reuters reports that the US is set to ‘unleash’ its Strategic Petroelum Reserves in a “test-sale”…
- *U.S. TO RELEASE CRUDE FROM STRATEGIC PETROLEUM RESERVE: REUTERS
Of course, this is a direct aim at Putin’s pocket-book as his stumbling economy needs high prices to sustain itself. However, the 5 million barrell release is less than a third of the US daily consumption rate (though does sound some alarms we are sure).
Via Bloomberg,
U.S. to release up to 5 million bbls of crude from Strategic Petroleum Reserve (SPR), Reuters reports, citing govt “source.”
SPR to be test sale, check operational capabilities of system infrastructure; timing unclear
By way of reference, this 5 million barrel release compares to average US consumption of around 18 million barrels per day.
