Strategic reserves aren’t really _for_ us. It’s a hedge, or supply for the military should all hell break loose.
Great, sell it off wholesale at $3.00 a gallon and buy it back in 3 months at $4.20 retail.
Drill you stupid sob
Obama applies a teeny tiny symbolic band aid as the patient desperately gasps for breath from the sucking chest wound.
Great rant. Although I think he also might have said that the strategic reserve is primarily meant for defense purposes. What happens if there is a large war, most of our foreign supplies are cut off, and there is no strategic reserve to fall back on while we improve the situation?
Also, what do you think of Rush’s tie? Looks like he’s trying to start a new fashion. At first, I thought it was awful, but then I kind of liked it. Might be good for a summer dinner party.
Big Flukeing deal BAMA, NOW PUT IT BACK.
White House denies U.S.-U.K. agreement on tapping oil reserves
http://fuelfix.com/blog/2012/03/15/white-house-denies-u-s-u-k-agreement-on-tapping-oil-reserves/
March 15, 2012 at 1:23 pm
by Puneet Kollipara
The White House has denied reports earlier Thursday that the United States and Britain agreed to cooperate on a plan to release some oil from their strategic reserves to counter rising global crude prices that have boosted gasoline prices.
Citing unnamed administration sources, Reuters reported that a formal request from the U.S. to the U.K. to join forces in releasing oil from government-controlled reserves is expected to occur “shortly,” following a meeting between President Obama and Prime Minister David Cameron in Washington. Britain will agree to cooperate, a source told the news service. But White House spokesman Jay Carney, while acknowledging the two leaders discussed energy issues, shot down the report as inaccurate.
“It is inaccurate, as was reported today, that any kind of agreement was reached on a course of action or that any kind of timetable associated with a course of action was agreed to,” Carney told a news briefing.
Obama has faced political pressure from Republicans and his Democratic allies in Congress to do something to address gasoline prices — even though analysts attribute the rise mostly to higher oil prices brought on by Middle East tensions and note that presidents and lawmakers have little power to address pump prices in the short term.
Republicans have called for more oil-and-gas drilling, but analysts have said such measures wouldn’t have any short-term impact on the price of oil, the major determinant of what consumers pay at the pump. Meanwhile Democratic lawmakers including Rep. Ed Markey, D-Mass., ranking member of the House Natural Resources Committee, have pressed Obama to release oil from the Strategic Petroleum Reserve, a 700-million-barrel emergency stockpile along the Gulf Coast.
Sarah Emerson, president of Energy Security Analysis Inc., a research firm, has said the petroleum reserve is meant for use in supply emergencies, and not as a price-smoothing tool.
More recently, Sen. Chuck Schumer, D-N.Y., sounded an optimistic note upon news that Saudi Arabia had said it would boost its production to offset decreases in Iranian supplies. “It is the best news on a very bad front … and let us hope it brings together some good news,” Schumer said.
Republicans argue that the U.S. should develop its own resources, not rely on foreign oil from the volatile Middle East.
Obama has gone on a speaking blitz in the United States recently, trying to defend his administration’s record on oil and gas production while characterizing GOP drilling proposals as an election-year “bumper sticker” that wouldn’t help reduce oil prices right now. He has said a balanced approach involving, oil, gas, as well as renewables and efficiency improvements to cut U.S. oil use, stands the best chance of reducing the nation’s vulnerability to the whims of global crude-oil markets.
He has noted that U.S. oil production has steadily risen and net imports have declined.
“So do not tell me that we’re not drilling. We’re drilling all over this country,” Obama said in Largo, Md., at a speech on energy.
The liberal Center for American Progress and environmental activists have cited that point as evidence that increasing domestic production hasn’t lowered and won’t lower oil prices in the short term at the very least.
Republicans say U.S. oil output has increased in spite of Obama, that he has pushed policies that impede production on the federal lands and waters and that he should do more to promote drilling. They also have pushed him to approve the Keystone XL oil pipeline, which many environmentalists and Democrats oppose and which he has declined to approve pending a necessary additional environmental review.
Republican legislation to approve the oil-sands crude pipeline from Canada to Gulf Coast refineries, open a part of the Arctic National Wildlife Refuge and new offshore waters for drilling and require commercial oil-shale leases failed in the Democratic-held Senate this week and last week. The GOP-controlled House passed an energy bill with those measures in February, but it was dead on arrival in the upper chamber.
“Clearly, if we opened up more domestic production and bought oil from Canada and created 3 million barrels that we don’t have today, people would see that as a positive sign,” Sen. Lindsey Graham, R-S.C., told Energy Secretary Steven Chu at a hearing on Capitol Hill.
Obama said Thursday that his administration has leased millions of acres already and will continue auctioning off areas in the Gulf of Mexico for drilling. But he has pushed back against Republican demands that he allow drilling in a massive swath of new waters and federal lands, reiterating his longtime argument that the country cannot drill its way to lower gas prices.
“I guess there are a few spots where we aren’t drilling. We’re not drilling in the National Mall,” he joked at a speech in Largo, Md. “We’re not drilling at your house. I guess we could try to have like, you know, 200 oil rigs in the middle of the Chesapeake Bay.”
Net effect: A two line blip in the newspaper, and a whole lot of profits for whatever off the books ops someone’s running these days.
And Schumer wants Saudis to pump more.
Yes the DNC admits we are correct.
Increasing oil supplies will lower prices!
End the war on Oil.
The prices will come down and the lefts dreams of smaller profit margins will be realized.
Oil prices are artificially kept high through regulation.
Its not a free market commodity.
I guess this means it’s time to go long on crude futures, 0bama dumping the less expensive oil from the reserve only to be replenished with more expensive oil. Probably just paying off his masters in in the Middle East.
Obamaoids could care less about facts or logic..
They are fanatics.. and RINOs are cowards... willing to vote for WILLARD..
Obama, Santo and Willard are OWNED by the UNIONS...
No help with any of them... Yes even Santo...
Its NEWT... or bend over for the UNIONS.. assume “the Position”...
America seems to be much more Corrupt than previously thought..
New Sodom(america) seems to Union oriented.. but then Sodom is all about MOBS..
You know... democracy.. or Mob Rule by Mobsters..
Although its true no democracy has ever yet been democratic..
The brain washed public wants to try being a democracy..
The brain wash is complete America thinks democracy IS A GOOD THING..
Not a Hive of drones serving a drama Queen..
The last time this was done in 2010 it dropped prices slightly for about 5 days and then it was right back up.
Another "fart in the wind" move by the Obumbler
And what he's telling these college kids is simply untrue. I don't know how else to say it. It's simply not true. Blatantly not true.
Rush, let me help you out with that:
More bandaids from the mad doctor in D.C.
This from the Czech Republic:
“The danger to America is not Barack Obama but a citizenry capable of
entrusting a man like him with the Presidency. It will be far easier to
limit and undo the follies of an Obama presidency than to restore the
necessary common sense and good judgment to a depraved electorate willing to
have such a man for their president. The problem is much deeper and far more
serious than Mr. Obama, who is a mere symptom of what ails America . Blaming
the prince of the fools should not blind anyone to the vast confederacy of
fools that made him their prince. The Republic can survive a Barack Obama,
who is, after all, merely a fool. It is less likely to survive a multitude
of fools such as those who made him their president.”
Stopping land drilling on Federal leases in much of the west and Rocky Mountain region was act one.
The gulf drilling moratorium was act two.
Refusal of the Keystone Pipeline was act three.
Looking, desperately, for ways to obstruct drilling that the Government had no way to prevent, such as studies of greenhouse gasses released while drilling and producing wells (shot down with the AGW hoax), the attack on fracking, prosecuting seven oil companies in North Dakota over 28 birds found on 6000+ producing locations for allegedly killing protected migratory birds, even a seminar held in Denver for LEOs in Western North Dakota (who have plenty else to do) held by the same US Attorney who prosecuted the bird cases (which got laughed out of court).
Now, though, the new gambit is afoot, and the first smoothly segues into the second. By creating as much of a shortage as possible, Mr Obama hoped to raise prices even more severely than they have (my bet anyway) to make his battery buggies more palatable in a market which just isn't buying. (They are his Edsel, from a marketing viewpoint, not genius but part of his 'legacy' he will be remembered for nonetheless.)
Still, prices are high enough that people are grumbling, and the prices on the news (carefully selected) are the highest in the nation--by far. While that will have retailers across the country wondering if they are charging too little, most places gasoline is still under $4.00/gallon.
If the SPR release doesn't bring prices down, the meme will be that it is 'the greedy oil companies' and not the combination of domestic policies and foreign policy (like destabilizing North African oil producing countries in wars not even discussed beforehand with Congress) which has caused the bid price of a barrel of crude oil to go up, especially in Europe, but around the world.
The result will be that Obama will make a move or support one to 'nationalize' the oil industry in America before November, and is attempting to gin up popular support for that.
If you think the $6.00/gallon gas near the rental car agencies at Disneyland East is high (and it is!), just wait.
If the Marxists succeed, even if (especially if) they give gasoline away, it will be unsustainable. In the long run, it will cost far more, when/if it can be had.
Crash the price and the oil won't pay for its own extraction.
Let the Government run E&P and it will cost two to three times as much, and the taxpayer will pick up the difference, just not at the pump.
'Free' gas means people would use more, even as those depleting reserves were not being replaced, and the net effect would be a further weakened America, with the oil industry suffering from an even worse depletion of experienced personnel (because a lot of us would quit, and die of old age before it was straightened out again).
Wasn’t the reserve the outcome of the oil embargo during Carter? So instead of drilling for more of our oil they have this? Nothing learned from the Carter oil embargo fiasco.