Release of strategic oil reserve

Discussion in 'Current Affairs, News and Analysis' started by hogstable, Mar 20, 2012.

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  1. Did a search and can't find a thread on this using the search box , so here goes, apologies if a thread eluded me.

    Exclusive: U.S., Britain set to agree on emergency oil stocks release | Reuters

    Releasing Oil from the Strategic Petroleum Reserve Will Not Do Much to Lower Prices

    Using and more importantly filling up the Passat I appreciate that a reduction in price is welcomed and releasing some of the reserve would seem to bring down prices.

    But with the joys of the Middle East at the moment, I would have thought it would be a good idea to hold quite a significant reserve.

    Standing by to be both mocked and informed.

  2. Do what they want, OPEC will just drop production again and ram up the price. China want oil to sustain their growth, the West.....who the **** are they?
  3. This does rather seem a pointless gimmick to try to manipulate prices without threatening the tax yield on pump prices.
  4. didnt they do this 2 mths ago.......
  5. A reserve always needs to be reconstituted as soon as possible, so two questions:

    How are they going to do that and keep the national debt down if the OPEC nations have taken an income hit from the temporary depression of prices?

    What do they imagine will happen to oil prices once our reserve is sold?

  6. Well, i guess somehow, it will do a little help, many countries keep large reserves of oil in the event of crisis, such Strategic Petroleum Reserve held by the United States Recently, the industry cost of crude oil dipped after suggestions of a partial release by the American and British governments, which caused the market to blink. Article resource: Oil prices dip briefly after hint of oil reserve release.