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  • Halifax2TheMax
    Halifax2TheMax Posts: 43,957

    *The following opinion is mine and mine alone and does not represent the views of my family, friends, government and/or my past, present or future employer. US Department of State: 1-888-407-4747.

    Brilliant brilliance in all its brilliancy. How everyone other than Israel, Russia and China don’t hate the US right now is beyond me. And sure Dougy, sure.

    IEA proposes record release of strategic stocks in response to Iran war oil price surge

    • IEA plans to release record amount of oil in response to crisis
    • G7 leaders to discuss strategic reserves amid rising oil prices
    • Oil prices rebound as markets doubt IEA's plan effectiveness
    PARIS/LONDON, March 11 (Reuters) - The International Energy Agency (IEA) on Wednesday ‌recommended the release of 400 million barrels of oil, the largest such move in its history, to try to restrain soaring crude prices amid the U.S.-Israeli war with Iran.
    The IEA said the release had been unanimously agreed by ​32 member countries, with timing to be set out in due course. The Paris-based ​IEA made its comments as French President Emmanuel Macron chaired a meeting of ⁠G7 leaders that will discuss the issue.

    Germany's Economy Minister Katherina Reiche had earlier confirmed reports of ​the 400-million-barrel figure and said her country would participate in the release. The U.S. and Japan ​would be the largest contributors to the IEA release, she added.

    "Pressure came mainly from the U.S. government which wants this release," an EU diplomat said, speaking before the IEA statement.
    U.S. Interior Secretary Doug Burgum welcomed reports of ​the planned release.

    "This is the perfect time to think about releasing some of those to take ​some pressure off of the global price," he said in an interview with Fox News.

    Burgum said, however, he ‌did ⁠not believe the world was facing an energy shortage.

    "We've got a transit problem, which is temporary," he said. "You have a temporary transit problem that we're resolving militarily and diplomatically, which we can resolve and will resolve."

    Analysts have said the pace of daily IEA stock releases would matter as much ​as if not more ​than the overall size.

    If ⁠100 million barrels were released over the next month, the daily pace will amount to around 3.3 million barrels per day - a fraction of ​the current disruption of around 20 million barrels per day, with the Strait ​of Hormuz ⁠between Iran and Oman effectively blocked.

    Oil prices rebounded on Wednesday as markets doubted whether the IEA's plan could offset potential supply shocks from the conflict.

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    Libtardaplorable©. And proud of it.

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  • Halifax2TheMax
    Halifax2TheMax Posts: 43,957

    *The following opinion is mine and mine alone and does not represent the views of my family, friends, government and/or my past, present or future employer. US Department of State: 1-888-407-4747.

    I know I hack up the English language when I speak and I also make up words, some from childhood or a mashup of two or more words, but I also know that I’m not POTUS but if I were, I’d practice some of those hard ones.

    https://www.instagram.com/reel/DVsDw9kjjbb/?igsh=MTVyaWdteXBuNmxmbQ==
    09/15/1998 & 09/16/1998, Mansfield, MA; 08/29/00 08/30/00, Mansfield, MA; 07/02/03, 07/03/03, Mansfield, MA; 09/28/04, 09/29/04, Boston, MA; 09/22/05, Halifax, NS; 05/24/06, 05/25/06, Boston, MA; 07/22/06, 07/23/06, Gorge, WA; 06/27/2008, Hartford; 06/28/08, 06/30/08, Mansfield; 08/18/2009, O2, London, UK; 10/30/09, 10/31/09, Philadelphia, PA; 05/15/10, Hartford, CT; 05/17/10, Boston, MA; 05/20/10, 05/21/10, NY, NY; 06/22/10, Dublin, IRE; 06/23/10, Northern Ireland; 09/03/11, 09/04/11, Alpine Valley, WI; 09/11/11, 09/12/11, Toronto, Ont; 09/14/11, Ottawa, Ont; 09/15/11, Hamilton, Ont; 07/02/2012, Prague, Czech Republic; 07/04/2012 & 07/05/2012, Berlin, Germany; 07/07/2012, Stockholm, Sweden; 09/30/2012, Missoula, MT; 07/16/2013, London, Ont; 07/19/2013, Chicago, IL; 10/15/2013 & 10/16/2013, Worcester, MA; 10/21/2013 & 10/22/2013, Philadelphia, PA; 10/25/2013, Hartford, CT; 11/29/2013, Portland, OR; 11/30/2013, Spokane, WA; 12/04/2013, Vancouver, BC; 12/06/2013, Seattle, WA; 10/03/2014, St. Louis. MO; 10/22/2014, Denver, CO; 10/26/2015, New York, NY; 04/23/2016, New Orleans, LA; 04/28/2016 & 04/29/2016, Philadelphia, PA; 05/01/2016 & 05/02/2016, New York, NY; 05/08/2016, Ottawa, Ont.; 05/10/2016 & 05/12/2016, Toronto, Ont.; 08/05/2016 & 08/07/2016, Boston, MA; 08/20/2016 & 08/22/2016, Chicago, IL; 07/01/2018, Prague, Czech Republic; 07/03/2018, Krakow, Poland; 07/05/2018, Berlin, Germany; 09/02/2018 & 09/04/2018, Boston, MA; 09/08/2022, Toronto, Ont; 09/11/2022, New York, NY; 09/14/2022, Camden, NJ; 09/02/2023, St. Paul, MN; 05/04/2024 & 05/06/2024, Vancouver, BC; 05/10/2024, Portland, OR; 05/03/2025, New Orleans, LA;

    Libtardaplorable©. And proud of it.

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