Obama Decides to Tap Strategic Oil Reserves, Will Release 30 Million Barrels

The Blaze ^ | jUNE 23, 2011 | Jonathon M. Seidl

[bt_dooftlook]

WASHINGTON (AP)

[Sacajaweau]

In fact, he's "selling" our oil on the world market. It's income for the coffers...

30 million barrels x $90 a barrel is what....2.7 billion??

About the same amount as the down payment we gave to Brazil

[cc2k]

That's an odd story, even on
Unexpected Thursday™

I almost thought this story could be bogus, but it could be a legimate Thursday story based on this:

From the story:

---

Oil prices dropped Thursday after Federal Reserve Chairman Ben Bernanke warned that the U.S. economy was recovering more slowly than expected and after the International Energy Agency announced the release of 60 million barrels of oil.

---

[Getready]

Hey BO: all ya’ gotta do is let people drill. We get lower
cost oil(cuz the world price is gonna drop).The money stays
in USA, less welfare rolls, more taxes, people will have
$ to spend which will help the economy. Budget deficit is
lower, increase our reserve, less trade deficit if we can
export some of it..how about win,win,win,win,win,win, win, win?

Hey BO, you were right about hope and change, as in “I hope
we change this president.” The saddest example of
leadership since uh,....well, can’t think of anyone worse,
oh, yeah...Neville Chamberlain.

[Louis Foxwell]

It is always satiisfying to see that FREEPERS get it.

[ladyvet]

This means nothing for my family budget. The damage is already done by the increased prices in EVERYTHING else that was due to previous oil prices according to the manufactures. Are they going to lower their prices...no.

[Venturer]

You ask what will Congress do?

Judging from their previous actions I would say that Boehner will cry, and the House Republicans will watch with their hands folded. In the senate harry Reid will congratulate Obama for a brilliant move.

Congress isn’t running this country any longer. The Emperor Jones (Obama) is.

[exit82]

If this isn’t intentionally wrecking the economy, then this is stupidity on a scale not seen - maybe ever.

"I'll take Cloward-Piven Strategy for $ 500.00, Alex."

[stylin19a]

Asked for 06/01/2011 - Don’t know if this ever became law, but now he doesn’t have to sell 5 million barrels.

http://www.reuters.com/article/2011/06/01/us-usa-budget-oil-idUSTRE75070W20110601

(Bill would allow $500 million emergency oil sale)

[OpusatFR]

When the Greek crisis is settled and it will be at some point, and when Europe settles, the dollar will resume its downdraft.

Right now the safe haven is FRNs. That would make the price of oil plummet and these fools in the Zero administration can't see it.

Releasing the oil reserves is stupidity itself because we will have to buy oil at a higher price later.

The Boy-Queen may be a consummate politician, but he is the worst president we've had yet.

[proud American in Canada]

The president’s poll numbers faltering constitutes a national emergency.

Yep. That was my thought.

[Dubya-M-DeesWent2SyriaStupid!]

FLASHBACK CLINTON: Sept. 23, 2000-He sold 30 Million barrels as well.

Bush did it in 08 after too many hurricanes and of course was criticized. When Clinton and Obama do it; it is a GREAT idea to the media.

This won't save Obama though. Nothing will at this stage.

[mrsmith]

Well, yeah he’s got to convert it to money to throw it away.

The House, temporarily, isn’t giving him money to throw away so he bypasses them.

Will keep our creditor’s oil prices down a little. Hopefully they won’t make him sell too much more of our treasure to keep the loans coming. Maybe just some museum pieces and land. Hope they let him continue to rent the military like he’s doing in Libya and don’t make him sell it outright.

[Jane Long]

The president’s poll numbers faltering constitutes a national emergency.

Ha! Never let a "crisis" go to waste.

Their moves are all planned.

[lurk]

Yippee, we get a day’s supply for freeeee. Par-tay.

[crosshairs]

This is satire, right?

[Colorado Cowgirl]

“Congress isn’t running this country any longer. The Emperor Jones (Obama) is.” I wouldn’t call running it into the ground, running the country!!! I wouldn’t let him stock shelves at 7-11. What a looser!

[Honcho]

We should remember this the next time the left argues that any individual drilling site shouldn’t be drilled because it won’t solve our energy problems. Our response should always be that the President knows an increase in supply will effect overall prices because the President attempted to effect prices himself by tapping into the SOR.

We always let these clowns get away with this without holding them accountable over the long term.

[crosshairs]

I believe , hussein is really trying to DEPLETE reserves. ‘Just another effort to destroy this country. What CAN congress do? The answer is nothing. The king who won has spoken.

I believe hussein knows something is about to happen in the M.E. and he wants our reserves depleted ahead of time, when we'll need them for real.

[scooby321]

First he waited until bad news Thursday on Jobs and Housing.

This is a Joke and kills Liberals notion that drilling more oil won't help the economy. If Obama had won a 2nd term he would never lower temporary gas prices.

A month from now prices will be higher than Wednesday before he released the oil.

He just told the world the US has no energy Policy.

[cashless]

RinaseaofDs is correct except leaving out the new kill the nuclear industry by letting the nuclear reactor in Omaha meltdown due to flooding caused by the administration opening levees is the final piece of this puzzle. We are dealing with ideologues that have no regard for the American or Western lifestyle and culture which they see as the only evil in the world. This worldview explains EVERYTHING they have done and continue to do to destroy our great nation.

You ask yourself why destroy oil, coal and nuclear when those are the source of electricity for their electric cars? Because that is nothing more than a magician's trick to get you to watch the wrong hand.

I hope we can survive two mores years of destruction before we have a chance to oust the current communists in the administration. God have mercy on us and gives us supernatural strength to endure if the idiots that voted for him the first time do so again and he is respected.