[bt_dooftlook]

This an extremely foolish, partisan, and progressive (but I repeat myself) response to normal market forces reacting to the activities of this administration domestically and in the Middle East. Using this oil will not lower prices, but will make America more vulnerable to the next price shock. The commentors appear to understand this - what will Congress do?

[mulligan]

What an incompetent jerk is Obama.

[Colonel Kangaroo]

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

[Nachum]

The list, ping

Let me know if you would like to be on or off the ping list

http://www.nachumlist.com/

[silverleaf]

Barky is using the strategic National Petroleum Reserve to buy his re-election

We don’t get our oil from Libya! Europe does

[Yo-Yo]

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.

Retail gasoline prices in the U.S. dropped for the 20th consecutive day to $3.61 per gallon.

In their stealth way, even AP questions the logic of this action.

[Vermont Lt]

This is a stupid move. There is no shortage of oil. There is a weakness in the dollar.

All this did was kill a fragile rally back over 12,000 on the dow.

Fool.

[MissesBush]

What is this, 2 day’s worth of consumption in the US? BFD. How about opening up some drilling? Obama’s just in full re-elect mode. Pull out from Afghanistan, now this bonehead move and many more to come all are being dictated by his obsession with re-election. He’s now the campaigner in chief.

[central_va]

30 Million BBls = 1 1/2 days of domestic demand.

[freeangel]

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.

[ilovesarah2012]

I agree but just saw where oil is down to $90.30 today so I guess it got someone’s attention.

[MNJohnnie]

This isn't about economics, it is about politics. Historically the price drops significantly in mid July any way.

This is just the cover story so 0 can claim credit for “fixing” high gas prices.

[jospehm20]

It is a stupid move.

[MissesBush]

What is this, 2 day’s worth of consumption in the US? BFD. How about opening up some drilling? Obama’s just in full re-elect mode. Pull out from Afghanistan, now this bonehead move and many more to come all are being dictated by his obsession with re-election. He’s now the campaigner in chief.

[mrsmith]

Temporarily, he isn’t able to throw away our money.

So he’s throwing away our oil.

What’s next?

[randita]

People will all of a sudden have a bit more money left in their pockets to go and spend on something else. Obama gets a bit of a boost because people are “consumin” again. He needs something positive to help his poll numbers, even if fleeting.

[To Hell With Poverty]

So evidently he’s gotten word that something major is about to happen that will disrupt the world’s oil supplies - why else would he do this, certainly not to help the American public! Got to set up another hit to this country. This just might lead to the civil unrest they’ve been planning on.

[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.

[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.