From The US Govt File: Buy HIgh, Sell Low -- March 13, 2017

From The Oil & Gas Journal, data points with comments:

• seven companies awarded contracts for SPR oil
• 10 million bbls 
• 10 million bbls = one day's US production
• tells me how inconsequential the SPR has become (or maybe always was)
• seven companies, the usual suspects, including Marathon Petroleum, Phillips 66, Valero
• but also, PetroChina (so, the US sells oil at a very low price to enemy #1; LOL)
• deliveries to take place May and June (2017)
• one wonders how much the seven companies are more interested in "contango" than in supply?

Backwardation: immediate demand for oil, certainly we are not in that position now, which means we are in a contango situation, with the potential for huge gains by these seven companies.

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Pipelines, Pristine Waterways, and Native American Religious Rites

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