Todays EE Oil Beatdown

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#1 Wed, Jun 22, 2011 - 11:39am
Black Hole Sun
Joined: Jun 14, 2011

Todays EE Oil Beatdown

I see the EE beat back crude by almost $1.00 after a negative oil inventory report came out. Check out the crude charts around 11:00 a.m.

How obvious is it, when crude spikes it is almost immediately beat back to keep the price from going to where it wants to?

The Obama administration wanted to go after and punish the speculators and had the margins raised etc. to accomplish the crude price control. But then they allow the EE to manipulate the commodities everyday in order to keep the public MOPE going that inflation is low and they point to falling oil prices as a yardstick, even though they won't use gasoline prices as a CPI index factor. How convenient.

Edited by: ¤ on Nov 8, 2014 - 5:18am

An epic lack of foresight, accuracy and rationale...

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