Tapping Strategic Oil Reserve Was 'Genius' Move by Obama(cnbc.com)

Tapping Strategic Oil Reserve Was 'Genius' Move by Obama

http://www.cnbc.com/id/43514254

1 comments

This seems to be a really clever hack. By increasing supply as the market is adjusting back down, it should force the market to adjust down even faster, potentially costing speculators substantially. This risk should reduce future speculation because at any time the government could flood the market and tank prices. This should keep the long term price of oil closer to the price of the underlying commodity.