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sludgehound

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sludgehound

Re: None

Saturday, 10/31/2015 9:23:48 PM

Saturday, October 31, 2015 9:23:48 PM

Post# of 41155
Plans to sell tiny part strategic oil reserve

Long article but in end writer comes out saying not as bad as might appear.
Quotes some data via Bloomberg.

http://seekingalpha.com/article/3625586-u-s-kicks-retired-energy-investors-while-theyre-down-with-plans-to-sell-down-strategic-oil-reserve

U.S. Kicks Retired Energy Investors While They're Down With Plans To Sell Down Strategic Oil Reserve

Let's put all these numbers into proper perspective. The U.S., if this bill passes, 2 years from now will begin drawing down from the strategic oil reserve five million barrels per year, which is less than one day's U.S. crude oil production. To repeat, we will be selling off less than one day's production over a full year's time. Does that sound like something for investors to get their panties in a bunch about?

The greatest deception men suffer is from their own opinions.
~ Leonardo da Vinci

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