26 Jun '11, 5pm

Strategic petroleum reserves: The world's last 'swing producer' tries to save the economy #peakoil

World governments have collectively poured trillions of dollars of stimulative spending into the world economy since the crash of 2008. And, they've shoveled trillions more into failed financial institutions. In addition, several of the world's central banks have lowered short-term interest rates so low that the next move would have to be negative. Still, the world economy remains weak despite unprecedented measures to stimulate growth. And so, global leaders are now implementing another stimulative measure that they hope will prevent the economy from teetering over into recession once again: lowering oil prices through the coordinated release of 60 million barrels of oil into the market from government-run strategic petroleum reserves. The move seemed to have the desired effect as oil prices fell more than 5 percent after the announcement. The question is: Why did global ...

Full article: http://www.energybulletin.net/stories/2011-06-26/strategi...

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