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bhikkhu

(10,789 posts)

9. With the rest of the world also willing to pay that much as well...

Reply to Justice wanted (Original post)

Fri Feb 24, 2012, 10:53 AM

Feb 2012

The net effect might be to ship our strategic oil reserve overseas, and then have to buy it back from the Saudis at the same price again, for the sake of a few cents on the gallon at the pumps here.

Its a national strategic oil reserve, not an effective way to manipulate the world oil market.

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Okay help me out here. When the oil prices started spiking and oil company CEOs started being [View all] Justice wanted Feb 2012 OP

From what I hear the problem is not oil production but the closing of refineries. gordianot Feb 2012 #1

ah thank you. Justice wanted Feb 2012 #2

What exemption from antitrust legislation do oil refiners have? Romulox Feb 2012 #5

In Bismarck North Dakota, the price of gas goes up or down in unison RC Feb 2012 #10

The problem isn't an immediate shortage HereSince1628 Feb 2012 #3

Not a production problem and not a refinery problem either. The USA is currently sinkingfeeling Feb 2012 #4

You are right about speculators however the refining formula has an impact. gordianot Feb 2012 #6

Not in my state. There's probably less than $.02 variance between several counties. sinkingfeeling Feb 2012 #7

Obama did make an attempt to do the same thing. NCTraveler Feb 2012 #8

With the rest of the world also willing to pay that much as well... bhikkhu Feb 2012 #9