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Really the saddest display of ignorance. Chinese are building about 10 million bbls of storage capacity per month to grab oil while the price is low. The US is selling to raise cash, cash that the government produces for free. I know Americans are not the sharpest tools in the shed, but this has to be a new low.
3 comments:
The oil is meant to be a "buffer" for high prices/shortage.
Mint the damn coin Obama and Lew!
Really the saddest display of ignorance. Chinese are building about 10 million bbls of storage capacity per month to grab oil while the price is low. The US is selling to raise cash, cash that the government produces for free. I know Americans are not the sharpest tools in the shed, but this has to be a new low.
SPR STRATEGY: buy high and sell low ?
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