Originally Posted by
SilentLurker
[MENTION=8313]Mesabah[/MENTION] is right.
Fuel Speculators have been driving prices higher than actual value of supply increases.
This is why Pres. Trump is now considering releasing some oil from the SPR (strategic petroleum reserves).
Some of you can joke all you want but it’s facts. Read more & watch more Bloomberg TV/CNBC/Financial Times/Fox Business/CNN Money.
Oil speculators even more than OPEC (according to economists) are propping up oil prices, so much so OPEC is considering increasing production, because prices have risen much more quick than expected.
Don’t mock, get facts! Poster above is correct.
He is considering releasing oil from the Strategic Petroleum Reserve because the midterms are November 6. The SPR is supposed to be used for “strategic” reasons affecting the US. Not political reasons like more Dems might be win House seats because gas prices are high.
Not surprisingly, the White House, thinking they’re being clever, have Iranian oil sanctions kicking in November 4th. Oil speculators, also being clever people, plan ahead.
Not to mock, but I might add the OPEC likes high prices. OPEC’s mission statement: "coordinate and unify the petroleum policies of its member countries and ensure the stabilization of oil markets, in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers, and a fair return on capital for those investing in the petroleum industry."
i.e. keep prices high
Surely we don’t have to debate this?