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BNN.ca staff
3:14 PM, E.T. | June 24, 2011
Energy & Resources
The International Energy Association shocked commodity markets on Thursday when it announced that its members would release 2 million barrels a day from their stockpiles over the next 30 days. The United States alone will contribute 30 million barrels from its own reserves. But Helima Croft, senior geopolitical strategist with Barclays Capital Commodities Research Group, tells BNN the announcement—meant to calm commodity markets—raises more questions than it answers.
“Why now? Is there new concern for example that Libya is going to be off the market for much longer than anticipated? Are there new fears about the global economy for Obama going into 2012 election?” she asks. “Something else is also at work other than OPEC.”
And while Croft says that many people believe this is a shot across the bow of OPEC, it’s also playing into the hands of U.S. politicians heading into the tightly contested 2012 elections.
“Certainly the economic news has not been good on the employment front [for the U.S.],” she says. “Lowering gas prices looks assertive going into election season, so this is something Obama can take forward to the American public and say ‘I am looking out for your economic interests.’”
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发表于 2011-6-24 09:10 PM
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