View Single Post
Old 05-22-2008 | 05:50 PM
  #15  
correcting
Line Holder
 
Joined: Jun 2007
Posts: 58
Likes: 0
Default

If we dumped 100,000-150.000 barrels from the SPR onto the market then perhaps the bubble that we are in would bust in regards to oil prices
But then again I,m just a pilot
Yes, you are just a pilot and you just proved it with the above statement.

Daily worldwide oil demand is in the range of 84 MILLION barrels a day right now. Your 150,000 extra per day would not even be a drop in the bucket. Not only that, but now you've depleted the SPR and you have to start building it up again at some point.

President Bush is close to signing legislation that will divert oil from the SPR to the market for the rest of the year. This is about an extra 70,000 barrels per day. Watch what happens to gas prices in this country. You will see you're theory doesn't work.
Reply