AT 18.5 M+ bbl/day usage in the US, pulling 90 M bbl isn't, excuse me, shit. This is a political ploy which places this country's military preparedness in a potentially dire global action in severe jeopardy.
The last time this happened, also in a Democrat administration, was to deliver 'heating oil' to Democrat voters in the New England states. The REAL purpose of this besides getting votes is to allow favored administration friends of Obama to cash in massively.
In Clinton's time, this was done by requiring the resale of this oil boon to be handled by minority oil brokers. The most egregious of these was a black guy that knew someone who knew someone in Clinton's administration - he ran his new company out of his NY apartment and skimmed a buttload off millions of dollars for oil he never even saw.
I just did the same math only to find you’d already made the point. This is no more than dangerous showboating that gives Obama something blather about and the hell of it is, some people will be dumb enough to give him credit for doing something, even though they’re paying the same price at the pump.
Democrat voters who don’t own cars, for example...along with the usual dead voters who seem to always vote Democrat on election day.
Exactly!
Obama's already put in place that which will reduce gasoline prices this summer, and that is that his policies have the US economy in the tank, and it's having an affect on world demand. Crude dropped $6 Thurs. and Friday, and I see a major slide coming due to a demand-side problem.
These people can't have it both ways. When defending their energy-choking policies, they say we're in a world market, and more extraction just won't help, yet here we have them admitting that they believe more supply can affect the price!