Insider Trading On Release of Strategic Oil Reserves?

[Kathianne]

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...

[Gaffer]

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



Serious money seems to have been made...

And you can bet it wasn't made by conservatives.

Corruption in the govt, imagine that. I think history will show this to be a more corrupt govt than Grants. Providing there is a history when these guys get through.