U.S. surprises oil market with sale from strategic reserve

Comments (10)
MitchS wrote:

Two words: Keystone Pipeline. Time to stop wasting time and get it going. Of course, Kerry and Obama won’t budge on this, but it just makes sense at every level!

Mar 12, 2014 11:11am EDT  --  Report as abuse
nodeficit wrote:

I think it is a great idea to test the ability to move the stock pile. More important is to see if it has any bearing on the price at all. Next question should be is there a role for government in housing, insurance, healthcare, investing, banking, farming, and entertainment or is it better left to the private sector.

Mar 12, 2014 11:29am EDT  --  Report as abuse
cheeze wrote:

Good ol supply and demand, does this mean a few weeks of relief at the pump? Let’s see.

Mar 12, 2014 12:49pm EDT  --  Report as abuse
Vuenbelvue wrote:

If current market prices are $90 to $105 a barrel how much do they expect to sell for? Would it go for $25 to $45 a barrel? It is the Government selling something?

Mar 12, 2014 12:53pm EDT  --  Report as abuse
Mott wrote:

Hope they can do this from time to time.

Mar 12, 2014 1:42pm EDT  --  Report as abuse
brotherkenny4 wrote:

If we only had cheap oil again oh what a wonderful world we would have with flowers and happy children like we used to have when lead additives were still used. Yes oil has been so wonderful with it’s toxic side products and it wars and embargos. We love it and we love the pain. Oh the pain is good, the pain at the pump. As good patriotic consumers we know this.

Mar 12, 2014 3:23pm EDT  --  Report as abuse
xyz2055 wrote:

MitchS..The Keystone pipeline already exists. It currently runs to Cushing, Oklahoma and the next phase of the pipeline to Houston has already been approved and is under construction. Keystone XL is what has been stalled. Keystone XL would add a mere 1200 more miles of pipeline. Google oil pipelines in the U.S. and you will find that the U.S. currently has over 180,000 miles of oil pipeline currently in operation. And according to the CBO XL creates very few jobs. So exactly what benefit do you think XL would give the American people? The bigger question is, why are the Republican’s in the House and Senate fighting so hard for a minor piece of pipeline that is of little significant and has only a small amount of jobs attached to it? Someone’s “Big Bucks”?

Mar 12, 2014 4:50pm EDT  --  Report as abuse

“While abundant light sweet crude supplies flood the U.S. market, Gulf coast refineries are actually better suited for heavier sour crude and still require imports from countries including Saudi Arabia and, occasionally, Russia.”

Actually Shale Oil is considered “Heavy Sour Crude” and has a higher sulfur content then that associated with the term “Light Sweet Crude.”

Do your research!

Mar 12, 2014 5:17pm EDT  --  Report as abuse
matthewslyman wrote:

Perhaps not so much an experimental trade, as a symbolic one to reassure the markets about US support in the event of any reduction in the flow of Russian gas.

Mar 12, 2014 5:33pm EDT  --  Report as abuse
altalks21 wrote:

I was lead to believe that most of the US oil was exported for greater profit, rather than kept here and lower gas prices throughout the US, just like the OPEC countries?

Mar 12, 2014 6:07pm EDT  --  Report as abuse
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