Biden’s Show on Strategic Oil Reserves, Ducks the Speculation Issue

April 1, 2022 (EIRNS)—Joe Biden announced releasing 1 million oil per day from strategic reserves for six months, the largest release ever in U.S. history, in an effort to deflate world oil prices. “The ridiculous thing is that he accused oil companies of responsibility for the high prices. The mind of these ‘scientists of nothing’ isn’t even crossed by the suspicion that a large part of responsibility lies in his [Biden’s] central bank (the Federal Reserve,) which keeps feeding psychopaths who play everyday with money on financial markets. Probably, they themselves have invested in the right place!” wrote Andrea Mazzalai, in his blog icebergfinanza.com.

Speaking of central bankers, one of the main culprits is Italy’s Prime Minister Mario Draghi, who knows perfectly well that the only effective action is to regulate futures and spot markets, since he himself helped build those markets. Draghi has been involved in both providing psychopaths with money to speculate, as well as playing with derivatives himself, as a central banker and as a Goldman Sachs executive. Answering journalists who asked what his government is doing about energy price inflation, Draghi lied that only two actions are possible: setting a price cap at the European level, and “diversifying” into other energy sources and providers.