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us oil reserves

  1. cya
    3,836 Posts.
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    14/01/12
    16:30
    Post #: 9550508
    It cant be bad to own US onshore oil near production in the middle of an Iran crisis.

    http://globaleconomicanalysis.blogspot.com/2012/01/eu-iran-oil-embargo-likely-delayed-six.html

    "Iran is OPEC's second largest oil producer. Bloomberg estimates that Iran pumped 3.58 million barrels of crude a day last month.

    The idea that Iran's oil supply can easily be replaced is pure nonsense.

    Phasing in an embargo is the same as phasing in higher prices smack in the midst of an already guaranteed monster European recession.

    Given that US Defense Secretary Admits "Iran Not Trying to Develop Nuclear Weapon" this move by the US and Europe is not only economic suicide, it is an illegal act of war as well."
    ELK Price at posting: 18.0¢ Sentiment: LT Buy Disclosure: Held
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    lightbulb Created with Sketch.  Great analysis
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