but but, but.... i thought the boy said it was to thwart oil speculators???
Posted on 07/02/2011 5:40:27 PM PDT by Sub-Driver
Gas prices to blame for Obama administration releasing oil reserves?
By: MJ Lee July 2, 2011 05:00 PM EDT
President Barack Obama has pressed repeatedly for a long-term energy policy, devoting five weekly radio addresses to the subject in the past three months and blasting other politicians during a March press conference for pursuing short-term political fixes for high gas prices.
“Every few years, gas prices go up; politicians pull out the same old political playbook and then nothing changes,” Obama said. “And when prices go back down, we slip back into a trance. And then when prices go up, suddenly we’re shocked. I think the American people are tired of that. I think they’re tired of talk.”
But this weekend as an anticipated 39 million Americans drive 50 miles or more for the holiday, the Obama administration is preparing to release 30 million barrels of crude from the Strategic Petroleum Reserve. Meanwhile, AAA reports the price of gasoline per gallon has declined from $3.63 just before the announcement to $3.55 on Friday. Gasoline prices peaked this year at nearly $4 a gallon on May 5.
Some critics say the president’s action betrayed his lofty rhetoric about energy.
“This is the shortest of short-term fixes,” said Spencer Abraham, who served as President George W. Bush’s energy secretary from 2001-05. “It very much falls in the category of politically expedient actions.”
(Excerpt) Read more at politico.com ...
It had NOTHING to do with lowering gas prices because anyone with one eye and a grain of sense would know that a temporary increase in supply will result in only a temporary reduction in prices. To PERMANENTLY reduce the prices, you have to PERMANENTLY increase the supply by drilling. And Obastard is NOT going to allow that.
That way, before a initiating a war against the US, they'll have the means to deplete our military fuel stockpile.
Epic Fail. It has yet to go back to the level it was when zero assumed office. and it won’t as long as the money supply is as large as it is.
For those of us in hurricane areas releasing crude from the strategic reserve in the middle of hurricane season goes well with zeros penchant for constant chaos.It can’t be anything else.
That won’t do a damn thing in the long run either. The fix is in.
Jack has it right. No one wants to, or will, think anymore. Except for a few. The ones who can think and have the financials are in on the fix. The regular Joes who can think are bitterly clinging to their guns and religion...
The Goal of the Impostor-by-Trick-and-Perjury
was to eliminate the Reserve which protects America.
Uh...no the release also took place in 27 other countries not controlled by OPEC.
The release came just before the press release today that the Sudanese have invaded Libya. There is a crisis, a real crisis, brewing besides tea at home.
Ladies and gentlemen, the Poserdent of the United States.
Yes, but IIRC 50% of the amount released was from the US, no other country came close...
No, he’s playing politics.
No, it's a complete lack of comprehension of the basics of economics and the marketplace.
As the economy continues to soften and we head into the next recession, prices should continue to fall.
With an asking ( strike price ) of $125 per barrel - while WTC is 94 I doubt they will sell very much of the reserve.
Obama...”Yak, yak, yak, blah, blah, blah, bloviate, blather...I think they’re tired of talk...yak, blah, blah, bloviate, gas, gas, etc, etc.”
1. This is the administration with a publicly stated objective to "boost the price of gasoline to the levels in Europe."
2. This is the administration that cancelled existing leases on millions of acres of federal land and banned development in vast amounts of reserves both on and off-shore.
3. This is the administration that was ordered by a federal court to lift an ill-conceived moratorium on drilling in the gulf, and then was found in contempt with a "determined disregard" of the court's ruling to start issuing permits.
4. This is the administration that turned "a regulatory firehose" on US business and the energy industry in particular with 29 new major regulations and 172 major policy rules finalized or proposed in its first 22 months.
5. This is the administration who lied to congress in March, 2011 by claiming production in the gulf "remained at an all-time high, and we expect that it will continue." However the Government's own Energy Information Agency had already reported a decline of 300,000 bpd in the first year following the administration's gulf moratorium fiasco and projected a total decline in production of 35% by late summer, 2012.
6. This is the administration whose policies have caused revenues from onshore oil and gas leasing in Colorado, Montana, New Mexico, Utah and Wyoming to plunge more than 80%, and total acreage leased to shrink to the lowest level ever.
7. This is the administration that Steve Forbes correctly labeled as having the "most anti-oil and gas record in U.S. history."
8. This is the administration that promised that energy cost would "skyrocket" under their plan of onerous regulation.
but but, but.... i thought the boy said it was to thwart oil speculators???
It’s the only thing in his life he’s mastered.
Thanks Sub-Driver.
It’s a two birds, one stone thing — he gets to claim that he tried to do something, when in reality, EVERYTHING he’s done has been with a view to raising the price of OPECs crude; and, the US strategic reserve has been depleted, meaning he’ll claim that we need to raise the debt ceiling in order to replenish it (and throw in a trillion other dollars while he’s at it).
It doesn’t hurt that he’s weakened the US in case there’s a real actualy national emergency before it gets replenished.
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