Obama Aide Refutes Report On SPR Release

Tyler Durden's picture




 

We thought it was getting stupid one post ago. Not sure what to call this then:

  • REPORT OF AGREEMENT ON OIL RELEASE INACCURATE - OBAMA AIDE

But not false? At least the report of a mass aggregation of US naval assets off the coast of Iran is still 100% spot on. For those who wonder what just happened, it is called a "headline market test" - since Crude dropped less than $2 on the report of the release, the final action, which would be very politically unpopular, may just not be worth it for Barry.

0
Your rating: None
 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Thu, 03/15/2012 - 12:08 | 2258139 nope-1004
nope-1004's picture

Oil prices fell?  Check.

Good job team.  Tomorrow we announce 4 new gold mines with huge reserves.

 

Thu, 03/15/2012 - 12:09 | 2258154 Tarheel
Tarheel's picture

If we cant trust a kenyan born, muslim extremist raised American President then who can ya trust??

Thu, 03/15/2012 - 12:16 | 2258197 jelyfish
jelyfish's picture

Not to defend Obama, but did you say 'muslim extremist'? What?

Thu, 03/15/2012 - 12:18 | 2258211 SHEEPFUKKER
SHEEPFUKKER's picture

Market manipulators!! Market manipulators!!! I am going to sick the SEC, CFTC, and whatever other worthless whores of regulating bodies on you. 

Thu, 03/15/2012 - 12:42 | 2258352 trav7777
trav7777's picture

so are we or are we not going to dump our SPR?

This is like fucking Gordon Brown selling UK's gold

Thu, 03/15/2012 - 12:47 | 2258381 SHEEPFUKKER
SHEEPFUKKER's picture

To dump or not to dump.  

Thu, 03/15/2012 - 13:03 | 2258453 ConfederateH
ConfederateH's picture

It appears that filling or using the SPR is not accounted for in determining the budget balance.  The question then becomes under which presidents was the SPR added to and under which ones was it squandered?

Thu, 03/15/2012 - 13:46 | 2258622 iDealMeat
iDealMeat's picture

Hey Iran.....

Enterprise is on the way..  How bout we trade you 8 reactors with install,training, and support for some oil.

Let's say..  For as long as the reactors work, oil
flows to the US.

deal ?

Thu, 03/15/2012 - 14:23 | 2258735 Pinto Currency
Pinto Currency's picture

 

 

Waiting for Barry to announce he's selling-off the entire US SPR to help pay down the deficit.

 

--------------------------------------

“I’m LeBron, baby. I can play at this level. I got game.”

 Barack Obama 2004

 

"And don’t try to convince me with his academic credentials. Because nobody has seen them. Not you, not me, not the press. Nobody. (Do you even wonder why not?) Editor of the Harvard Law Review? Yet not a single article written by him. Not a single scholarly paper. On anything."

http://urbangrounds.com/2011/08/obama-not-smart/

 

Thu, 03/15/2012 - 16:33 | 2259259 RmcAZ
RmcAZ's picture

Holy shit, awesome idea. All they need to do is jack oil to $22,270/barrel and we would have zero debt!

Thu, 03/15/2012 - 16:37 | 2259273 Pinto Currency
Pinto Currency's picture

 

 

The Fed is working on it.

 

Thu, 03/15/2012 - 20:52 | 2260145 StychoKiller
StychoKiller's picture

It's getting so ya can't believe yer own Goobermint...

Thu, 03/15/2012 - 12:43 | 2258356 smlbizman
smlbizman's picture

do we remember the last release....jpm got 200mil. barrels of it....i assume they used it to short oil? you know the way were you'r suppose to have the thing ur shorting..sorta..

Thu, 03/15/2012 - 20:55 | 2260159 StychoKiller
StychoKiller's picture

S'okay Early, just down some mo' Glug™!  :>D

Thu, 03/15/2012 - 12:19 | 2258216 idea_hamster
idea_hamster's picture

I think that's spelled "Keynesian born."

Besides, the inaccuracy was that the oil is going to be "released," but rather shipped directly to China.  They got the idea from the EU's escrow account for Greece.

Thu, 03/15/2012 - 12:23 | 2258235 SheepDog-One
SheepDog-One's picture

Exactly, if anything its being released to China. Hello $5 spring oil.

Thu, 03/15/2012 - 12:43 | 2258343 Manthong
Manthong's picture

. crazy situation

Thu, 03/15/2012 - 12:16 | 2258200 jus_lite_reading
jus_lite_reading's picture

It's all planned out... in preperation of the war that is about to begin very soon. 

Thu, 03/15/2012 - 12:21 | 2258228 EscapeKey
EscapeKey's picture

In other news; Obama now considers Iran part of the US SPR.

Thu, 03/15/2012 - 12:25 | 2258253 Conrad Murray
Conrad Murray's picture

A release from the SPR leads me to believe war is off the table.

Then again, with an administration that is clearly a domestic threat out to destroy America, a captured and neutered CONgress, and a Supreme Court whose allegiances lie elsewhere, who knows.

Thu, 03/15/2012 - 12:37 | 2258329 jus_lite_reading
jus_lite_reading's picture

On the contrary... THAT was just a test...

Thu, 03/15/2012 - 12:58 | 2258428 kito
kito's picture

war isnt happening until obamas 51 pct of american households receiving government assistance automatic majority reelects him...............

Thu, 03/15/2012 - 13:40 | 2258592 walküre
walküre's picture

A release from the SPR leads me to believe war is off the table.

Why off the table? It would make perfect sense to order the release a week before war breaks out. That way the flow is uninterrupted. Read the other day that Europe expects minimal impact from an Iranian oil embargo.

If a war isn't coming, a full blown embargo is underway. The strategy is to cut the Iranian regime where it hurts them most.

 

Thu, 03/15/2012 - 12:31 | 2258260 AL_SWEARENGEN
AL_SWEARENGEN's picture

These no good hypocrite cocksuckers haven't the slightest idea of what the end consequences will be when their obviously psychopathic agenda unfolds.  Will Russia and China sit idly by like children nations sipping their vodka and smoking their opium while all their business interests in the region are stolen from out under them??  Hell no.  This is the stuff world wars start with and it appears, more and more aparent every day, that this is the military industrial complex's goal.

Thu, 03/15/2012 - 12:36 | 2258327 jus_lite_reading
jus_lite_reading's picture

>>"This is the stuff world wars start with..."<<

You said it! They know that because the global ponzi is imploding and they can't keep the illusion going that much longer, they must begin now with the last alternative... WWIII 

They have no hope except that WWIII will wipe out all debt and the US will come roaring back with a clean slate and all records of the corruption will vanish in the chaos...

You will see

Thu, 03/15/2012 - 12:41 | 2258349 walküre
walküre's picture

To wipe out the debt and records of corruption, the next false flag would have to bring death and destruction .. mostly destruction to DC.

Not saying it can't happen, but I doubt it will. The last false flag took care of the missing 2.3 trillion Pentagon expenses.

Unless you're suggesting that US records of debt and corruption are kept outside of the US? The only logical target would be China but we're years from attacking China. That's just not sensible right now. WW4 perhaps.

Thu, 03/15/2012 - 12:47 | 2258380 jus_lite_reading
jus_lite_reading's picture

One thing I can guarantee... there will be no WW4 as Einstein implied.

The stench of corruption stinks to high heaven and they know it... thus underground bunkers built with missing pentagaon monies

Thu, 03/15/2012 - 13:15 | 2258504 walküre
walküre's picture

They knew it 100 years ago. They've always known it. What is new other than the fact that the truth is literally out there? The truth is out there and we can discuss it openly but we can't do a darn thing about it! They KNOW THAT!

They are virtually impunible and untouchable for as long as .. their fake fiat is buying them all the things they like.

When the confidence in their precious fiat erodes, they're protected with gold and silver until the next fiat experiment.

Why the RUSH to right the ship in 2008/2009? They could care less about starving the world. Shit was inches from hitting the fan back then and they orchestrated a concerted effort of financial wizardry and massive propaganda to keep things under the lid.

The more this drags on, the more I resign to the fact that nothing will change and we are being oppressed by their fake fiat regime for decades more. They have everything, we have nothing. We get to live, eat, drink and shit and serve their illusion of a free society. They live lavish, they control currency and they do as they please. Same as it ever was.

Thu, 03/15/2012 - 13:40 | 2258596 jus_lite_reading
jus_lite_reading's picture

Just in case you didn't see this....

http://fiatsfire.blogspot.com/2012/03/stinky-thursday.html

Kind of puts the whole thing in view!!!!! No more SWIFT for IRAN is REALLY PUSHING THEIR BUTTONS!! 

THEN the whole CME withdraws from the EU derivative responsibility!!! Did TYLER mention this?? THIS IS HUGE!! THE SHIT is already hitting the fan IMO!!

Thu, 03/15/2012 - 13:43 | 2258608 jus_lite_reading
jus_lite_reading's picture

And then I READ THIS the other day!!!

http://endoftheamericandream.com/archives/america-is-being-transformed-from-a-wealthy-nation-into-a-poor-nation-at-breathtaking-speed

With this news APPLE CAN GO TO $2000!!!

ZIMBABUSA!!

Anyone who can not see that a collapse is coming REAL soon is living a fantasy!!

Thu, 03/15/2012 - 15:17 | 2258947 walküre
walküre's picture

thanks for the links. this is anything but "lite reading" .. you should change your monnicker / lol

good stuff.

Thu, 03/15/2012 - 13:36 | 2258579 Dapper Dan
Dapper Dan's picture

And don't forget the civilian submarines built and sold the last 10 years!

http://www.luxury-insider.com/legacy/Regulars/Current_Affairs/Luxe_Subs/

US Submarines, a Florida-based company, are experts in luxury submarines. Forget the claustrophobic submersibles you may have seen in movies. Civilian luxury submarines are ultra-comfortable underwater cruisers.

The company makes a variety of luxury underwater craft, including the 118-foot Seattle 1000 and the 65-foot Nomad 1000. These allow one to cruise silently through the world’s great oceans, exploring earth’s lesser known frontiers. With their beautifully-trimmed interiors and extra-long underwater cruising ability, they are truly the place to get away from it all.

What really gets us excited however is the proposed Phoenix 1000. Originally commissioned by an undisclosed client, the design remains something of a fascinating technical marvel, as yet unrealized. At over 210 feet (65 meters) in length - megayacht territory - this would be the world's largest and most luxurious submersible craft.

Over the last decade, luxury boat builders have begun building submarine yachts. Submarine construction technology has come a long way in the past century, and it's possible to build these boats at an affordable ($15-200 million) cost. They are safe, and there are about a hundred of them out there. A few companies have gained a lot of experience building subs for non-military underwater operations (academic research, oil exploration), which has created a cadre of information and technicians who can build these recreational subs. One of the largest civilian submarine yards is in Dubai, where 18 have been built so far, and over two dozen are under construction or on order. Another large operation is U.S. Submarines, in Seattle, a company that has built most of the scientific communities subs over the last two decades. These submersible pleasure craft look like streamlined yachts while on the surface. The upper deck, including the bridge, is outside the pressure hull. When submerging, everyone goes below, and the upper deck get flooded. If you get close to one of these yachts, it becomes obvious that they are built to dive. Military subs are still not used to encountering this civilian traffic underwater. The military boats have the right of way, but military boats are now warned to exercise extra care when approaching coastal areas used by civilian subs.

http://www.ussubmarines.com/

At U.S. Submarines we have developed the world's first personal luxury submarines, capable of taking you and your guests to unseen regions of the deep ocean in perfect comfort and absolute safety. And once there, you are able to view the fascinating denizens of the deep through large, panoramic viewports, while relaxing in an interior replete with luxury and warmth,

The Phoenix 1000 is a 65-meter (213') personal luxury submarine. The initial design was originally executed for a client and now awaits a buyer. As proposed, the submarine would constitute the single largest private undersea vehicle ever built, and arguably, one of the most significant personal transportation devices of the century.

A Luxurious Undersea Vehicle

This design, which we have named the Phoenix 1000, has more than ample space. The total interior area of the submarine is in excess of 460 square meters (5000 square feet). The significant volume, coupled with very large acrylic viewports, and the potential for relatively large open spaces, results in a vehicle as luxurious as the finest of motor yachts.

Thu, 03/15/2012 - 13:48 | 2258628 jus_lite_reading
jus_lite_reading's picture

Wow!! That sure as hell beats living in an underground bunker!! LMAO!!

Right now anything survival related is selling....

Thu, 03/15/2012 - 14:15 | 2258707 Taint Boil
Taint Boil's picture

 

 

“I do not know with what weapons World War III will be fought,
but World War IV will be fought with sticks and stones.”

----- Einstein

Assume it was him who said it ,,,, but good enough.

Thu, 03/15/2012 - 13:08 | 2258473 viahj
viahj's picture

the next goal is a global currency and the $ isn't it so unless you have gold (basket of commodities) your exchange rate from $ to SDRs will be shit.  seeing how most of the gold is concentrated into a few hands, i don't see how, even with the new currency, that the US will come roaring back.  on the contrarty, it will continue to decline to the LCD of the global system.

Thu, 03/15/2012 - 12:18 | 2258213 SheepDog-One
SheepDog-One's picture

Big deal, WTI 'fell' all the way to 105? I guess thats their SPR mission accomplished for today? Kooky.

Thu, 03/15/2012 - 12:57 | 2258425 Randall Cabot
Randall Cabot's picture

LOL They put out the rumor just in time to spike Europe into the close. And then they refute it a few minutes after Europe's markets do close.

Thu, 03/15/2012 - 12:07 | 2258143 azzhatter
azzhatter's picture

Was it Steven Chu? He's reputable and a helluva investor

Thu, 03/15/2012 - 12:08 | 2258147 Spartan
Spartan's picture

Nothing on Reuters, what jokers!

Thu, 03/15/2012 - 12:08 | 2258149 lizzy36
lizzy36's picture

Jesus, can someone get Jamie Dimon on the phone and clarify the timing of the release from SPR.

Thu, 03/15/2012 - 12:09 | 2258156 mayhem_korner
mayhem_korner's picture

 

 

Mr. Owl, how many $#%& ups does it take for an Obama aide to become a corpse?

The world may never know...

Thu, 03/15/2012 - 12:09 | 2258158 Wakanda
Wakanda's picture

We flew past stupid months ago.

Thu, 03/15/2012 - 12:14 | 2258185 GeneMarchbanks
GeneMarchbanks's picture

Aren't algos fun?

Thu, 03/15/2012 - 12:12 | 2258162 SheepDog-One
SheepDog-One's picture

The report was 'not accurate'....they left out .gov and meant to put in .clownfart tagline.

WTF??

Thu, 03/15/2012 - 13:33 | 2258569 mayhem_korner
mayhem_korner's picture

 

 

Was this more untrue than the Saudi pipeline accident from a week or so ago?  My farce-o-meter is broken...

Thu, 03/15/2012 - 13:56 | 2258650 zapdude
zapdude's picture

LOL.  clownfart is my new favorite word.  I love it.

A fitting description for our retarded leaders.

Another zinger from SD1, kudos to you sir!

Thu, 03/15/2012 - 12:11 | 2258167 lolmao500
lolmao500's picture

Well California is in big trouble...

http://www.breitbart.com/Big-Government/2012/03/13/exodus-california-tax...

State Controller John Chaing continues to uphold the California Great Seal Motto of “Eureka”, i.e., 'I have found it'. But what Chaing is finding as Controller is that California’s economy as measured by tax revenues is still tanking. Compared to last year, State tax collections for February shriveled by $1.2 billion or 22%. The deterioration is more than double the shocking $535 million reported decline for last month. The cumulative fiscal year decline is $6.1 billion or down 11% versus this period in 2011.

Thu, 03/15/2012 - 12:17 | 2258203 espirit
espirit's picture

It's tits up for those public pensions.

Meltdown in 3..2..1..

Thu, 03/15/2012 - 12:25 | 2258223 bob_dabolina
bob_dabolina's picture

California sucks and I moved from the state because it sucked that bad.

First of all the taxes are insane. I moved to the Virginia coast last year and love it. People in L.A for example are paying $4.50 a gallon while I filled up for $3.53 yesterday (that's because the gas tax in CA is the highest in the country). Property taxes are lower, sales tax, all taxes are cheaper which means my standard of living has increased nicely. Not to mention the beaches are nicer, Sandbridge is a nicer beach than anywhere I've been in California and a short trip to Nags Head is even nicer.

I also tried to start a business in California, had lawyers set up and the whole 9 yards. It was literally impossible with all the regulations and it was a very simple idea, it didn't require any chemicals other than some windex for cleaning.

There is the ABC rule in the circles of many business owners - Anything But California.

Apple just decided to expand into Texas with a 304 million dollar investment that will create 3,600 jobs. Take a guess at why they chose not to do it in California.

http://news.cnet.com/8301-13506_3-57395246-17/apple-expanding-in-texas-w...$304-million-investment/

Thu, 03/15/2012 - 12:24 | 2258236 CrashisOptimistic
CrashisOptimistic's picture

Look, get it through your head.

No legislature, be it Congress or state level, is going to cut spending.  It's not going to happen.  The Tea Party arrived in overwhelming force in November 2010 and they got $4 Billion, repeat, $4 lousy billion out of trillions in spending cut in FY2012.  And along with that, they extended unemployment benefits and the doc fix (which are both more spending).  The Tea Party arrived after having run on ONE ISSUE AND ONLY ONE ISSUE: CUT SPENDING.  They were an overwhelming force, and they accomplished nothing.

THERE WILL BE NO SPENDING CUT.  

If tax revs are low, and the law or the market won't let you borrow the remainder, then you will postulate arrival of Facebook IPO derived revenue to have moved forward 2 years from when it will happen.  The books will then balance and you can keep sending out checks.  If it looks like they will bounce, you will pass a law preventing banks from declaring insuffieient funds on the checks.

THERE WILL BE NO SPENDING CUT.  THEY WILL SPEND WHETHER THEY HAVE THE CASH OR NOT.  No banks will be allowed to say no.

Do NOT follow this link or you will be banned from the site!