Wednesday, August 06, 2008

NOW is the time

For the US to release crude from the Strategic Petroleum Reserve and/or swap out light crude for heavy crude.


Benchmark crude is trading at $117.75 a barrel- it's lowest level in FOUR months having dropped precipitiously in the past month from $147 highs as sentiment as turned sharply.

Selling now while crude is wounded will CRUSH the market perhaps down to $100. That will be very good for the republic and will also help the crude market back down to a lower paradigm and put the market on notice that the government will be opportunistic.

Won't happen though because democratic governments react to panic and there is no panic at the moment. Also none of the decision-makers with the notable exception of Paulson have direct experience in the financial markets.

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