Until then...
Posted on 03/06/2011 9:40:56 AM PST by mojito
WASHINGTON - White House Chief of Staff Bill Daley said on Sunday the Obama administration is considering tapping into the US strategic oil reserve as one way to help ease soaring oil prices.
Speaking on NBC television's "Meet the Press," Daley said: "We are looking at the options. The issue of the reserves is one we are considering. ... All matters have to be on the table."
There has been support among Senate Democrats for tapping the reserves. Senator Jay Rockefeller on Thursday became the third Democrat to ask President Barack Obama to tap America's emergency oil supply to cool prices that have risen past $100 a barrel due to the strife in Libya.
In a letter to Obama, Rockefeller said a "limited draw-down" from the nation's 727-million-barrel Strategic Petroleum Reserve "can protect our national security by preventing or reducing the adverse impact of an oil shortage."
On Wednesday, US Energy Secretary Steven Chu ruled out releasing oil from the reserve, saying ramped up oil production in Saudi Arabia should lower the crude price.
(Excerpt) Read more at jpost.com ...
drill baby, drill!
TAP ALASKA!
You can have all of the goofy windmills you want, ONLY OIL MAKES AMERICA GO!
They’ll get some oil out of it...but lose Saudi production, and it won’t be enough.
Until then...
The strategic oil reserves are for strategic purposes—not political advantage. Use them now and what happens when we really need them?
The Kenyan depletes the strategic reserve to keep his poll numbers up ya mean.
Another step in the Kenyan’s plan destroy America.
Bringing down the price is not what the emergency reserves are for - they are there to protect us in the event of a complete supply disruption.
Interesting the hypocrisy again the part of the left - we don’t need more of our own oil supplies per their logic, but now they want to tap the reserves to increase supply? We also don’t have enough refining capacity - wouldn’t some of this just get sent overseas if the reserve does get tapped?
Trying to avoid developing any oil at all costs. Obama wants to deplete the reserve.
Sometimes I wonder if not winning a second term is taken as a retirement call by "the one" anymore.
The President doesn’t care. All he wants is to get reelected. By now, I think it’s obvious to everyone who lives in the real world that our President is not as bright as he appears to be.
This will lower the price of gasoline by a nickel to a dime, temporarily. And how do we replace the oil in the strategic reserve? Only by taking oil off the market, and raising the price again. Or, we leave the reserve and our national security partially depleted.
Complete idiocy. Again. The search for a temporary free lunch never ends with these people.
The President doesn’t care. All he wants is to get reelected. By now, I think it’s obvious to everyone who lives in the real world that our President is not as bright as he appears to be.
We already have an oil reserve. It’s underground.
Exactly right. There is no shortage of oil right now. The price increases are due to speculation about future loss of production not current supply and demand. Releasing oil now is about lowering the price at the pump and help The One politically.
Since when are the reserves used for "pricing"....
The chicken U.S. citizens are still not learning what is happening in the East.
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