RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Q1 EarningsDo you mean could he be wrong? Yeah, he is wrong a lot.
If they refill the SPR after the driving season then they are just going to put a floor beneath the oil price that the driving season creates.
One thing is for certain. They seem to have no intention of releasing any more from the SPR.
GLTA
Duster340 wrote: Quintessential1 wrote: I guess that is why Joe's admin just halted the recent congress mandated release and cancelled all of the congress mandated sales from 2024-2027.
They are also making plans to refill the SPR just as soon as they can.
"(Bloomberg) -- Oil extended its rally for a fourth day, reversing course midday to climb after the Biden administration announced plans to replenish strategic reserves after completing maintenance work later this year." "The US decision to cancel the previously mandated sale of some 140 million barrels and begin purchasing crude later this year to refill the strategic cache halted the slide." https://ca.finance.yahoo.com/news/oil-holds-two-day-surge-031401292.html GLTY and all
Duster340 wrote: Quintessential1 wrote: CJ is treading water in the shallow end of the pool.
In mid-summer its going to stand up and laugh this low off.
Great time to buy or add.
GLTA
egee wrote: Keep swimming
CJ will take a nose dive along with the price of oil at the end of driving season which is only 14 weeks away. super joe will keep oil in check untill then with the weekly SPR dump.
it is only speculation, my guess joe will wait until nov/dec well after driving season is over before refilling and at a much lower price. eric the nut said on BNN that the SPR would never be refilled did he tell another big whopper? lol