Obama Considering Tapping into oil Reserve

[Hutzpa]

The President is considering tapping into oil reserve, this would be an excellent move if he does this,
but I think instead of considering, this should be a MUST.

I remember Bill Clinton using the same method, every time oil prices increase he will tap into
the oil reserve and keep the price of oil down.

It is time Obama start using those same tactics as Bill Clinton otherwise the recovery he has worked for
will eviscerate into thin air. Increased oil prices IS responsible for the worlds economical disaster at
present.


http://www.nytimes.com/2011/03/07/business/energy-environment/07oil.html?partner=rss&emc=rss

http://abclocal.go.com/kabc/story?section=news/consumer&id=7998878

[Myrina]

1. Remember Sept 12, 2001?

How everyone freaked out and waited in lines for hours because gas was going to top $2.00/gal?
It's about to hit in alot of places, yet nobody's screaming.

What the hell happened to us? Oh, wait, there's a new season of American Idol starting ... :eyes:

[Progressive_In_NC]

2. My RW neighbor swears this is a ploy by Obama to deplete reserves and destroy the country

The talking points are already out. There is no supply problem, the demand hasn't gone up, this is just a ploy to remove the 787,000,000 barrels from the strategic oil reserve and force us to spend hundreds of billions on the "black hole" of alternative energy investment.

I just got in my car and left for work. Geez.

[Hutzpa]

3. Sometimes you just can't fix stupid

explaining would have been a waste of your time and energy on your part, good move.

[earthside]

4. Pointless.

Although I believe we are currently on the plateau of the peak of oil production, I don't think that the price run-ups right now have much to do with actual supply shortages.

Instead, this is commodity speculators using unrest in the Middle East to bid up the price per barrel -- so how would releasing oil from the Strategic Petroleum Reserve help?

Perhaps the psychology of a release might send the price down a few cents, but there is no guarantee that that is how the market would respond.

Probably a bad idea strategically and ultimately, politically.

[Hutzpa]

5. So you would rather have high gas prices instead.

Releasing America's oil reserves means we do not have to bid for oil on the world
market, and this makes perfect sense to me because America is responsible for about 40%
of oil usage in the world.

40% is a huge amount to lose.

[earthside]

6. "we"???

"We" do not do that bidding ... gamblers do.

You know, the government really cannot smooth out all the problems that arise in the country.

Now, we need wholesale reform in this nation of our we use energy and how commodities are speculated upon, bought and sold --- but reality is what it is.

Expecting Pres. Obama to save you ten or twenty cents a gallon by opening the SPR is exactly the kind of action that has made Americans spoiled and delusional about the real economic swamp in which we are currently mired.