Apparently the cure for high prices is upcoming mid-term elections:
Of course this approach, releasing a million barrels/day in the run-up to the election leads to neither the demand destruction nor the incentivation of production at the heart of the old commodity trader's saying: "The cure for high prices is high prices."
Whatever works. "In the long run we are all dead." We'll kick that can when we come to it.
“Depend upon it, sir, when a man knows he is to be hanged in a fortnight, it concentrates his mind wonderfully.”
WTI $99.70 down $0.58.
