Kathianne
07-07-2011, 12:57 PM
As if the D o J investigation isn't enough, are scandals going to be breaking all over this administration going into the elections?
http://www.cnbc.com/id/43658507
Tapping the Strategic Petroleum Reserve was supposed to lower oil prices but instead has only raised questions about market manipulation.
The price of US crude actually is higher now than when the Department of Energy and International Energy Agency made the controversial move on June 23 to hit up the SPR in an effort to ease the gasoline burden on consumers and goose the economy.
At the time, critics blasted the move because oil prices already had fallen considerably – more than 16 percent in just two weeks’ time, in fact.
In retrospect, the price move is starting to look fishy to some traders.
Dennis Gartman, a hedge fund manager and author of the widely followed “Gartman Letter,” constructs a timeline of how the oil release came to be and the trading action surrounding it.
He notes the most recent peak of oil on May 2, discussions with Gulf oil ministers on May 5 as the price started to decline, and the ultimate announcement seven weeks later, when oil was around its near-term bottom. ...
Serious money seems to have been made...
http://www.cnbc.com/id/43658507
Tapping the Strategic Petroleum Reserve was supposed to lower oil prices but instead has only raised questions about market manipulation.
The price of US crude actually is higher now than when the Department of Energy and International Energy Agency made the controversial move on June 23 to hit up the SPR in an effort to ease the gasoline burden on consumers and goose the economy.
At the time, critics blasted the move because oil prices already had fallen considerably – more than 16 percent in just two weeks’ time, in fact.
In retrospect, the price move is starting to look fishy to some traders.
Dennis Gartman, a hedge fund manager and author of the widely followed “Gartman Letter,” constructs a timeline of how the oil release came to be and the trading action surrounding it.
He notes the most recent peak of oil on May 2, discussions with Gulf oil ministers on May 5 as the price started to decline, and the ultimate announcement seven weeks later, when oil was around its near-term bottom. ...
Serious money seems to have been made...