Quote from futures_shark:
You can't be serious!?! And how could they possibly do that? There's less than a 100 day supply in the SPR.
The government is the cause of the problem, not the solution.
Clinton Administration was handed this choice on a silver platter when he took office and chose to build the strongest country in human history, at least as far as we're told, there probably were others, in a galaxy, far, far away.... (you know the movie)
evidently the same methods and processes exist now, and appear at the turn of the US Administrations in Washington.
at any rate, recent developments:
a) Libya with all its sweet crude, has been welcomed back into the fold of desirable nations. in addition to that, tourism will increase as well as international flights to and from their airports
b) Oil Sands in Alberta Canada were in the news recently as holding more refinable oil than can be used
globally in the next 100+ years. It was particularly reassuring to hear those news stories as it really didn't take oil over $33 per barrel to reap those rewards. It was ballied about at oil over $44 per barrel, and now those prices look like a dream.
c) rumblings over restitution to those who engineered this artificial run up in prices, namely this Oil Administration and the upcoming fall elections as an opportunity for the American public to respond to all those artificial stories of global demand and SUV's being the cause...
hey, someone's going to pay for all this beyond just the consumers now....