I thought it was interesting that we're still taking in 50k barrels/day when our strategic reserves is at 97% capacity. It might not affect prices in the long run if things are speculator driven, but it also doesn't make that much sense.
If that happen that would be world war 3 or the end of of IRAN. At that point who really cares what the price of oil is.
You have fuel the farmer's tractors or we all starve. The Iran thing was just a fer'instance. I'm just saying that the Strategic Reserves are more important than just an economic 'pinch'. I like Uranium stocks for the very long term, like in your IRA. But the lead time to build up nuclear plants and the opposition they face makes their payout pretty far in the future.
I fully understand. But USEC, which has a near monopoly on Uranium mined for use in the United States is a bargain right now.
the $120 question is when will these oil prices finally funnel down to the consumers? i heard gas prices have been "relatively low" because refineries still have a lot of gas on reserve. however, as those reserves begin to dwindle, these refineries will be refining oil that they purchased at ~$120 a barrel... what would that mean to consumers? $4.00 a gallon? $5.00? $6.00? even if congress and states put a temporary halt on gas taxes, i dont think itll help much. i know in places like japan and korea. they pay ~$1.70 per liter which comes out to ~$6.00 a gallon.
