Have you noticed oil is up today?

Investment Analysis Clubs Macro Economic Trends and Risks
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Taking someone else’s production off-line worked in 2003. Should work again.

Steve

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or it could be this

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Well, yes, bouncing up off a 4-year low.

DB2

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NOW is the time to slowly refill the SPR. When oil is at or under $70, you refill. That was my advice to Biden and that’s my advice to Trump. You can’t buy huge amounts each week (obviously!), but you can buy marginal amounts each week, and over time it’ll slowly refill. It’ll also, in effect, act as a floor on oil prices because whenever the price drops much below $70, the USA will increase the amount it buys to refill.

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Why? The SPR was created when the US was dependent on imported oil. The US now produces a surplus. Net, the US exports 1.6Mbpd of crude, plus refined products. As posted yesterday, USian refineries are catching on to the administration’s agenda of refining nothing but USian light, sweet, so the US will not even need heavy to blend for feedstock.

Steve

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Because of quick access. In a grave emergency, sometimes you need the stuff RIGHT AWAY.

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oil will go lower. The globe is using less. Trump will begin to usher out any supply he can to raise prices.