If you’ll recall when I last posted about a weekly EIA report a few months ago, the crude inventories were at 367 million barrels.
Also, gasoline inventories have been declining too. They’re down 1.67 million barrels this week.
This news, combined with the FED’s statement that they will not begin tapering of QE yet, is wonderful for those of us who want doom to rain down on this society. If peak oil doesn’t get you, the reckless monetary policy of the Federal Reserve will. They’re truly in a catch 22. Stop QE and have the stock market collapse now, or keep kicking the can down the road and continuing QE to have the stock market collapse even more in the future. Whatever they choose one thing is evident, sooner or later those stimulants will have to be withdrawn, and then the day of reckoning will arrive.
