IEA may decide on extending oil release by mid-July (if 0bama Sez So)

Reuters ^ | 6/30/2011 | Unattributed

[mojito]

The International Energy Agency could decide by mid-July whether the release of strategic oil reserves needs to be extended for a month or two, an official said.

The 28-member IEA announced last week a plan to release 60 million barrels over an initial 30 days to fill the gap in supplies left by the disruption to Libya's output.

[....]

A decision on whether to extend the release could be made around the third week of July....

[mojito]

Expect more releases from the SPR, if gas prices don't come down and 0bama's approval ratings don't go up.

[mikethevike]

I’m confused...Does some “International” agency have control over the US Strategic Petroleum Reserve?

[RatRipper]

Makes me uncomfortable that Obama is working our strategic oil reserve down.

Seems something akin to unilateral disarmament. . . the lying SOB does not inspire trust.

[mojito]

My understanding is that the US is part of this organization, and that the SPR oil released last week was done with 0bama’s approval, but done under IEA auspices to international markets.

Someone please correct me if I'm wrong.

[tbpiper]

The International Energy Agency could decide by mid-July whether the release of strategic oil reserves

Why is an internatinal agency making decisions on draining our stategic oil resrves?

[TexasRepublic]

After the first release I predicted it would not be the last. How can we stop the squandering of our oil reserves?

[mojito]

0bama can order releases at his discretion, which means that a man with no conscience and a great desire to be re-elected will be making the decisions.

The only solution that I can see is for his political opponents to make a huge issue of the fact that the president is using the SPR for frivolous political advantage.

[CharlyFord]

According to CNN Money, Oil prices are rising a week after SPR release, back to less than $1 dollar from where it was before Obama made the controversial decision to tap the strategic reserves. LINK

May get interesting. Would like to know the players and their thinking??