IEA Joins Fed In Making Failure Into Policy: Says Additional SPR Releases Possible

Tyler Durden's picture

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
the not so mighty maximiza's picture

sell assets and print money, all the signs of a strong economy. 

chdwlch1's picture

How about this for a reason.  JPM is "The Feds Bank" and is the largest holder of short contracts in the PM markets.  They are also the main beneficiary of the last SPR emergency, making a bundle at the auction after the release.  The last release was on the 22nd of June with Gold/Silver options contracts expiring on the 27th of June.  Could it be that JPM is getting killed on its PM shorts and is less willing to load up on more short contracts unless a deal is reached?  Could it be as simple as a cash flow issue due to the delay in raising the debt ceiling (and receiving $2.5 trillion to continue the charade)?  If they release more oil and then sell it a week later to JPM we'll have a better idea.  Next PM contracts expire on July 26th...look for the SPR release on the 20th or 21st to give this scenario some support.  BTW, debt ceiling deal deadline is the 23rd (I believe...10 days before August 2nd interest is due.)  This SPR release would get them through one more month, or until their eventual $2.5 trillion payday.

Confused's picture

Really? I guess the question is, are any of you surprised?

Hondo's picture

This is all zero sum also...after the SPR is depleted ( I quite confident that they will say it's never depleted)  and the corporate SH have been given more of the wealth of the citizens we'll end up right back to where we were going anyway...expect be much poorer for the journey.

Franken_Stein's picture

 

It's not an error, it's a feature.

It's not stupidity, it's a plan.

 

fallout11's picture

Perhaps if they tell lies long enough, they start to believe them themselves?

macholatte's picture

IEA Joins Fed In Making Failure Into Policy

no, no, no..... it's not failure if the plan is to destroy the USA. What you're witnessing is success. What else could you expect from the Soros-Obama Progressive-Communist agenda? C'mon. Get real! Open your eyes.

Next up - the carbon tax.

CrashisOptimistic's picture

Saudi Arabia EXPORTS only 7 million bpd nowadays.  It was 9+ in 2005.

They are burning it all domestically (especially in summer, their electricity is from oil fueld power plants), and what they are burning is depleting and output of quality oil is falling.  They will publish upticks when Manifa comes online, but it's very heavy, very sour oil and no one can use it.

There is no answer to this.

fallout11's picture

Peak cheap oil came and went, and we're on slipside now. Exportland model in full effect.

Global Hunter's picture

I've heard how bad the economy would have been without TARP, stimulus spending, quantative easing. Its not hard to imagine the arguement will be, "imagine how much crude would cost if we didn't release 60mm barrels".  I suppose they keep releasing crude...then what?

CrashisOptimistic's picture

Saudi Arabia EXPORTS only 7 million bpd nowadays.  It was 9+ in 2005.

They are burning it all domestically (especially in summer, their electricity is from oil fueld power plants), and what they are burning is depleting and output of quality oil is falling.  They will publish upticks when Manifa comes online, but it's very heavy, very sour oil and no one can use it.

There is no answer to this.

Sudden Debt's picture

their water distillation plants use as much oil as they produce clear water from seawater.

talk about waste...

 

digitlman's picture

How many fucking iPads does SA export a day?    NONE.

Hence, QE3!

;-)

TheTmfreak's picture

We will have continued food riots if we don't. And by food I mean Ipads of course. Especially since they'll be a shortage of peas now since, yes in fact they will be consumed here locally in the good ol' US now that we've manned up.

alien-IQ's picture

"Making Failure Into Policy" = A.K.A. Tradition.

Gringo Viejo's picture

...and children shall lead them....

you could'nt make this shit up.

NotApplicable's picture

Well, you could, but it wouldn't be worth the effort, as nobody would believe you.

NotApplicable's picture

So, I guess it's time to get a fuel tank and create my own SPR on the dips.

CrashisOptimistic's picture

Gasoline doesn't store well.  It fractionates and loses quality over a month or three.  Sorry.

Citxmech's picture

Diesel stores for years.  Just make sure you keep an eye on condensation/water in your tank and microbial growth.

Right now I've got close to 100 gallons on hand at any time.  If I can swing it, I'd love to get a 250 gallon tank for precisely that purpose:  My own strategic reserve. 

Ahhh - so many preps - so little time!

francis_sawyer's picture

correct... but additives will prolong it a little

francis_sawyer's picture

better yet...

convert your engines to run off propane

 

fallout11's picture

Modern computer-controlled EFI engines don't mind that, though. They compensate.

Recently put 2 year old (jerrycanned) 87 octane RUG through my old pickup truck to prove the point to a non-believing friend (he helped me haul it and dump it in the tank). Ran fine, as always....I do the same thing every year or two to rotate my storage.

Anglo in Abitibi's picture

The stabilizer you can get at your gas station works well enough to store your snowmobile over summer with gas in the tank. I have no personal experience but people I consider quite handy consider Pri-G good for at least 1 year if not 2 provided it`s temperature stable storage.

http://www.priproducts.com/fuel_storage_consumer.cfm

Also seasonally speaking prices are lower in the winter because of reduced demand and butane content increase. So if you can time your purchase so that you`re buying low-butane summer gas during the shoulder seasons you`ll have the highest quality gasoline (and best fuel efficiency) hopefully below the average summer price point.

However apartment dwellers like me don`t have much in the way of gasoline storage space.

HungrySeagull's picture

I use Stab-il and have gotten over a years worth of storage time out of it for gasoline in the old Pre-Ban Jerricans. I suppose the Jerry cans are worth a fortune today what with the seals, lining and all.

Just remember to vent and let the cans breathe during high pressure cycles in the summer weather and exchange in winter during low pressure otherwise you will damage the metal and reduce capacity from 5 gallons to 4 or so.

I am seriously thinking of dropping in a cheap 250 gallon tank somewhere and whistle up a small bobtail tanker to come in from time to time.

slewie the pi-rat's picture

things arent' bad enuf already?  people's countries now hafta sell the oil back to the banksters and oil producers? 

relax.  it is but another way to transfer our wealth to the uber-rich.  maybe a little bit of helping them do some prepping in case TSHTF?  or for more miltary adventures?  

win-win!  + banksters!  + oil producers!

speaking of military adventures (and thus not going off-topic?) tomorrow is bastillle day!  and the full moon is friday!  i read this earlier:

Rights Group Accuses Libyan Rebels with Serious Abuse

see whatcha think?

 

CrashisOptimistic's picture

Oh, don't delude yourself.  If Gadaffi manages to survive and hang on (his odds improve each day), he won't be selling oil to those that backstabbed him all that readily.

He'll start out selling at Brent - $10 to Niger and Chad and Tunisia and Sudan.  That willbe maybe 200K bpd.  That 200K bpd will fund his country nicely and even start to replenish his personal coffers.  

When Italy knocks on the door, and France, and asks to purchase, he'll inform them that he will rise above petty revenge and vindictiveness and will indeed provide them the oil they need with only the most modest assessment for damage reparations.

The price will be Brent + $300.

slewie the pi-rat's picture

Oh, don't delude yourself.  If Gadaffi manages to survive and hang on (his odds improve each day), he won't be selling oil to those that backstabbed him all that readily.

i never said he would you be you moronic shitheaded asswipe troll.  the rest of this is not directed to you, shitforbrains.

the link i posted re:  serious human rights violation by the rebels includes a brief interview with this guy: 
HRW said that the rebel military commander in the Nafusa Mountains, Col. El-Moktar Firnana

i think this is the guy who defected from the moQ's forces.  then he went into the mountains and has some command and military discipline, to which many of the young men getting into this mess seem to respond.

CrashisOptimistic's picture

I wasn't attacking you, but since you're sensitive about such things, you might want to notice that this thread is about oil, not human rights.

slewie the pi-rat's picture

fuk you, asswipe.   Oh, don't delude yourself = I wasn't attacking you?  while pretending to respond to something i didn't say?  in reply to what i wrote?

wtf are you on, troll?   the war in libya, which this article is about, that war is about oil.  this is happening, today.  get some help, you moron.  you don't belong here.

 

Bastiat's picture

Well our credit and armed forces are fairly depleted why not pump out the reserve oil too?

Sudden Debt's picture

they're already doing so for 3 months now.

BP even got contracts to drill in national parks.

 

monopoly's picture

It will make 0 difference after a few days. You guys getting the feeling that the next QE will not last very long in pumping up the market for the banksters, politicians and heggies. Look at this, and down we go.

fallout11's picture

The addict is jonesing bad, but needs more monetary heroin each time for a shorter high.

P-K4's picture

"IEA Joins Fed In Making Failure Into Policy." Classic headline ! People like this make Inspector Clouseau seem like Mensa material. Inspector Clouseau said, "Your architect should have his head examined !" (after Clouseau walks into the wall instead of the doorway).

XRAYD's picture

The smell of desperation in the morning!

sbenard's picture

This only makes us more vulnerable to a real supply disruption or (heaven forbid) a war. Sometimes I think these elites genuinely want to destroy us!

francis_sawyer's picture

While you're on your daily errands, don't forget to top off the tank... As well as the one in the:

- lawnmower
- spare gas can
- tractor
- boat
- jr's go-kart
- weedeater
- snow blower
- & while you're at it, might as well just fill a rack of empty coke bottles & make yourself some molotov cocktails... Never know when they may come in handy

LFMayor's picture

+ on the molotovs.  Be sure to add some styrofoam packing peanuts to thicken them, cheaper and easier to find than real phosphate soap these days.

fallout11's picture

I found Dawn dishwashing solution to be a decent enough substitute. Don't ask me how.

LFMayor's picture

LOL, I love this shit!   Those fucking milquetoasts think that the "guard" or some lardass mallcop security company is going to be there to protect them when this spills.

How many people are testing "designs" out there right now, i wonder?

Their first and greatest mistake was letting us get bored.

francis_sawyer's picture

lol... Paul Blart... Amerika's last line of defense... Instant classic!

 

 

HungrySeagull's picture

They eliminated the Phosphate in all cleaning products sold in walmart and such other stores without any notice to the public this year.

You can still get Phosphate in 5 gallon insitutional buckets on ebay.

FubarNation's picture

Ya but you have import the Mexican Coke bottles for them to be effective.  Ole!