Calling Card Online

The IEA is going to release oil reserves also..Squeeze those speculators.

The release of strategic oil reserves of IEA countries puts an additional
supply of up to two million barrels a day on the market in the next 30 days.
This is more than the Libyan oil outage.

Even so, the countries in the Gulf region apparently do not want to restrict
production and this should mean a marked oversupply on the oil market in the
coming weeks, which should push prices down further

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Area gas prices have fallen 50 cents in the last month and could continue to drop as the U.S. prepares to release 30 million barrels of oil from the Strategic Petroleum Reserve.

The average price for a gallon of regular unleaded gasoline in the Canton-Massillon area was $3.28 Sunday



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http://abcnews.go.com/Business/motor-gas-inventories-decrease-gas-prices-rise/story?id=13438587

Gas prices are up while gas inventories are down. That may mean extra trouble to drivers with just five weeks to go before the summer driving season begins on Memorial Day weekend.

In last eight weeks, gas inventories have dropped 32.8 million barrels, about 10 percent, according to data from the Energy Information Administration. Total motor gasoline in the U.S. was 208.1 million barrels for the week ending April 15, a decrease of 7.5 percent from a year ago. Inventory was 240.9 million barrels ending Feb. 4

If inventories are down, it would be somewhat connected the reduction in supply from Saudi Arabia, which cut production to ‘stabilize prices’ in the face of excess inventory (of crude).  The inventory of gasoline is massively manipulated for profit.

My President has again confirmed that he sees no price gouging.  I guess that is true, if you insist on keeping your gaze down on the books of domestic refineries and and stations.  The cost of oil in the ground hasn’t changed since I filled up  at $0.12/gal in high school.  Does the phrase ‘gas war’ ring any bells?

The gouging is international.  As the third largest producer in the world, our oil drillers are part of that gouging.  Their paper transfers, they somehow make the case that California crude costs them the same $105/barrel, that OPEC charges us.

There are two Presidential options.  We could have a real ‘gas war’, with the OPEC nations that openly operate a cartel, and remove about half of out GNP.  The President might have ‘his Attorney General’ conclude that the profits that occur when a $10 recovery cost is converted to a $105 resale price, are taxable in California and the United States.

It must take a lot of grease to prevent that ruling.  I’m glad the President openly refers to Mr. Holder as his Attorney General.  He is certainly not representing the country.  I guess we could refer to this country as ‘his nation’, until removed.  It was once “OUR COUNTRY”.