Mar 14, 2015
"So why did they not buy when price was lower" Because the government likes to waste money and is good at it. No, really, they're not that bright, otherwise they would have bought it when it hit the lows in January/February, when I saw it hit $35 a barrel in one day's trading. However, $44-45 isn't so bad, and when it's $150-170 a barrel, which is when they might need to truly access some, it'll have been a good buy. It won't be low forever, and we are going to go down just a shade more still and then go up again; and we might go back down after that one more time toward the bottom, which will both be bad and good as when it goes up, it'll go up a lot more than I want to see it go up.