Whatever happen to the lower oil and gas prices as a result of releasing

[INdemo]

the oil from the oil reserves??

[Obamanaut]

1. According to some that was a remarkable display of presidential 'gamesmanship' by

releasing some of the reserves when oil prices were down.

Now, those reserves can be replenished at the higher prices.

edited to add link

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=439&topic_id=1352434

Oil Traders: Tapping Reserve Was 'Genius' Move by Obama

[INdemo]

3. Well for the speculator..Just buy contracts short and laugh all the way to the bank

maybe that was what the oil traders really were talking about with the "Genius" comment

[valerief]

2. Bwahahahahahaha! Like promises are ever kept in this 1% world! nt

[Yavin4]

4. Same Thing That Happened to the Lower Oil and Gas Prices from the Invasion of Iraq

Silly rabbit. Oil profits are for the oligarchs.

[Myrina]

5. Silly you! Thats an old headline! It's 5 minutes are up!

You didn't really expect anything to HAPPEN, did you???

[alc]

6. perception matters, not results in politics

There was a lot of good press when it happened. Most people forgot by the next week but may have some recollection that "Obama did something to help with oil prices" in the next election. If prices had gone down there would have been more press claiming the move was the cause.

[hobbit709]

7. "Lower oil and gas prices"?

:rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl: :rofl:

[Freddie Stubbs]

8. Oil and gas prices dropped

But then went back up a few weeks later.

[NeedleCast]

9. At My Local Gas Stations

Prices peaked in late spring at $4.09/gallon for regular. Over the course of the next three to four weeks, they went back "down" to a low of $3.61. After being stable at that price for a few weeks, they were up 8 cents one morning and 2 cents more a few days later and have been stable at $3.71 for about 10 days.

It's just how the gas companies, in league with the speculators, do it now. Gas prices spike, then go back down, but they never go back down to where they were before.

[TheCowsCameHome]

10. You fell for that one, too? Oh, man........

:rofl:

[ChrisBorg]

11. You might want to think about a trade-in.

[Ozymanithrax]

12. Everything dropped a bit for a while, but the market adjusts...

and companies reduced pumping to adjust prices at the end. OPEC has done this for decades, adjust the amount of oil they pump in order to manipulate supply and keep prices high.