U.S. weighs release of oil reserves, world frets about Iran (Turbo TaxCheat Timmy says on CNBC)

Yahoo ^ | 2/24/12 | Rachelle Younglai and Jeff Mason - Reuters

[NormsRevenge]

Translated..

Whatever it takes to get Obama 5 more years. ;-)

[RexBeach]

The petroleum reserve is when supplies are very tight. That’s why it was created.

Supplies ain’t tight.

Geesh.

[Joe the Pimpernel]

Ubama should just nationalize NBC/SeeBS/ABC/NYT/WP/LAT/Time/Newsweak/etc.

Then he wouldn't have to worry about all this other nonsense.

[animal172]

Excuse me, but if we are now exporting gas why do we need to release the reserves?

[AU72]

We need the reserve when the oil supply is disrupted, not before.

[KarlInOhio]

Each drop we take out of the reserves now is one drop less we have to use if the Iranians start sinking ships in the Strait of Hormuz. Should we be prepared to use it when that happens? Yes, but not until then.

[molson209]

maybe Obama has already sold off most of the reserves

[FlingWingFlyer]

Didn’t we already do this dance or discuss it anyway. IIRC, it was decided that releasing the reserves wouldn’t help a damn thing. I think it was a bunch of commie ‘RATS who tried to make that point.

[BilLies]

Just like the TV Poker Stars.

I can just hear the Abomination thinking.....It’s not my money nor my country....and then saving “ALL IN”.

[bray]

So more supply lowers prices?? Glad they admit it.

Pray for America

[Tallguy]

Part of the problem may be limited domestic refining capacity. There are reports that refineries are now in the process of switching from winter to summer gas blends. So increasing the crude oil input, from whatever source, isn’t going to do diddley.

[goodnesswins]

YES...this happens EVERY year...the switch from the winter to summer blend or some such thing....

[scooby321]

Maasive Failure Last time Obama did it.

High Oil means Obama is a one term President and I will gladly pay for that coming true.

[PSYCHO-FREEP]

Typical Geithner/Obama stupid, moronic behavior!

Hey it will be “BRILLIANT” if we release 60 million barrels of oil, (a 3 day supply) purchased when Oil was around $70 a barrel, so that it can be replaced at $130 a barrel, on the backs of the tax payers. Just print more money, ink and paper is so cheap.

[hadaclueonce]

Obama would trade his family for a second term.

[dirtboy]

WASHINGTON (Reuters) - The United States is considering a release from its strategic oil reserves, Treasury Secretary Timothy Geithner said on Friday, acknowledging the harm that supply disruptions from Iran could have on the global economy Obama's re-election chances.

[dirtboy]

WASHINGTON (Reuters) - The United States is considering a release from its strategic oil reserves, Treasury Secretary Timothy Geithner said on Friday, acknowledging the harm that supply disruptions from Iran could have on the global economy Obama's re-election chances.

[Buckeye McFrog]

The Strategic Petroleum Reserve may as well be renamed The Politician Arse Covering and Manipulation Reserve.

[ColdOne]

Not surprising if he does this. he needs lower gas prices for re-election this should do it.

It also makes the SOR real low so later on down the road the gas prices can shoot up to $10 gallon because the reserve will be low.

He gets 2 things by doing this. Another win for him another hit for our country.