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HISTORY MADE: US & ALLIES TO SELL 60M BARRELS OF OIL RESERVES OVER NEXT 30 DAYS!!
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Cde Monomotapa
#21 Posted : Monday, June 27, 2011 2:20:33 PM
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Joined: 1/13/2011
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OPEC countries willing to boost their quotas are mostly friends with the West. Saudi Arabia is an example. But those against the bump up in production are not. Like Iran and Venezuela.

That Obama chose now to release crude oil from our Strategic Petroleum Reserves is like giving the finger to the OPEC members who voted against increasing oil production. - tihihihi..


http://www.24hgold.com/e...ntributor=Sara+Nunnally


Brent Crude @$102. smile
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VituVingiSana
#22 Posted : Monday, June 27, 2011 2:44:20 PM
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Joined: 1/3/2007
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@cde: Did you know Venezuela owns CITGO [one of the largest downstream oil firms in USA?] & that if the USA stopped buying crude from Venezuela then chavez in bigger shit than he already is in?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Cde Monomotapa
#23 Posted : Monday, June 27, 2011 3:19:17 PM
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VituVingiSana wrote:
@cde: Did you know Venezuela owns CITGO [one of the largest downstream oil firms in USA?] & that if the USA stopped buying crude from Venezuela then chavez in bigger shit than he already is in?

Interesting..ha! He can easily b sniped (economically) kumbe..hahaha, I remember during GFC and oil raging over $150 with the Investment Banksters calling $200..si his ego SWELLED, talking smack left, right & centre! Heh! When oil collapsed a bit later alikonda mbaya!
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Cde Monomotapa
#24 Posted : Monday, June 27, 2011 3:26:48 PM
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Btw the dumbest thing I observed during the GFC was capital flight from "risky" assets into oil under the guise of hedging. The stupidity lies in the banding into the very commodity that is causing gross worldwide economic pain!!! Yet as a result of the underperfomance of those "risky" assets the only logical conclusion was that global oil demand shall do a humpty dumpty!! Lol! These markets @ times...
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Cde Monomotapa
#25 Posted : Monday, June 27, 2011 3:32:29 PM
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They should have consulted me on what a true hedge is as I was buying KGN & KPLC then @9.5 &108 respectively coupled with a recent tariff increase. Then I would've told them about fuel-cost-pass-through.
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Cde Monomotapa
#26 Posted : Monday, June 27, 2011 6:53:24 PM
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Joined: 1/13/2011
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Infact, the Research arm of the largest Investment Bankster of them all, Goldman, was giving BUY & HOLD reccomendations for oil & CDSs yet the Dealing arm was taking short positions on the same..Do ur own research people.., die ur own death if it has to come to that. smile
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