I know where it is, I know where it is. SURPRISE
....its in the $ 22 billion saved as reserves!!!!
Now to get to the real point. Why don't people freaking open up threads that they have business and political knowledge about? I feel like everyone thinks they have a PhC ( Philosophy in Conspiracy) on everything (instead of a PhD). These commodity contracts don't change the contract prices over night. And usually commodities like Oil and Gas are bought a year or many months in advance based on projected and historical analysis and need for a country!!
This isn't an express shipment through Fedex, like hey, can I have 10 million barrels of oil 2nd day delivery to Pakistan
. These contracts are made many months in advance. So in other words, you'll start to see the real savings and price of oil will drop significantly in the next few months. When prices for future contracts are lowered, then you see some relief on the Gas station immediately as governments and oil refineries reduce their market looking at the future. But the contract is still paid at the cost it was bought at. Till it runs out.
So tell IK, to learn a thing or two about Commodities purchase so next time he might sound smarter. People were laughing at him in a place where I was at, when he was bit*ching about this. Its like a little child who thinks he's an adult and therefor participates in every discussion, whether he knows the topic or not. I am SO glad IK isn't running anything serious, otherwise he'd have screwed it up so bad that stuff would just not be fixed. You can't reason with lack of basic understanding
. You can reason with logic and competitive expertise