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What is Obama Trying to Achieve with Thursday’s Shocking Oil Announcement?
I’m surprised by the move by the President and the IEA. What’s this about?Is it about the price of oil?
Before the announcement WTI was sitting around 95. That’s a solid $20 lower than it’s peak eight weeks ago. Why would Obama & IEA act today? A very big price adjustment has already been made. If the circumstances were different and the price of WTI was through $120 I might have agreed to this. But why make a splashy show now when no show is required?There is more to this than meets the eye is my conclusion.
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