Monday, May 17, 2004

Bad strategery

It is a good strategic idea to have the oil reserves. But to use them to threaten down oil prices? Seems to me, if we flooded the market with that oil to bring prices down there would be the expected price drop. Temporarily. Then, in 30 or 60 days when we run out or choose not to reduce our reserves any further, the old market dynamic is restored and prices return. With the added upward pressure of not having to worry about the US dumping its reserves again.

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