Thread: Gasoline at $4 Coming to a Pump Near You, Unfazed by Rising Tab
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Old 06-23-2011, 10:42 AM   #2891
Donger Donger is offline
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Quote:
Originally Posted by PhillyChiefFan View Post
Maybe someone much smarter than me can tell me this:

Why are they releasing oil reserves NOW when oil was headed down, instead of back when Oil was over 120 a barrel in 2008? Or just a few weeks ago when it was headed there?
This is in response to OPEC's recent decision to not increase production, even though the Kingdom unilaterally has chosen to do so. It's a political move mostly, with the knowledge that it would also drive down the cost of crude.
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