"It Pays to Trade Alongside President Obama"

[cieldumort]

President Obama & the International Energy Agency tapped the strategic petroleum reserves today.

CNBC Fast Money
Oil Traders: Tapping Reserve Was 'Genius' Move by Obama

With US crude prices already down 16 percent from their April high, pundits and politicians everywhere were asking Thursday: "Why would President Obama tap the Strategic Petroleum

Comments

[darksumomo]

Cheaper energy is also a way to stimulate the economy.

[capthek]

It is too bad there are not other ways to easily pop a bubble before they get too large. The price of oil has been growing without much of an expansion in demand, but instead investors throwing cash into it and this move by Obama is a quick way to get people to stop dumping their money into oil and perhaps deflate the bubble.