I wonder if the President is doing anything in an attempt to blunt the impact that oil prices will take due to this. And no, I frankly have no idea what he could do except to send a message to the markets to be kind during our disaster and that the US Government will do everything possible to restore/rebuild/yada yada yada.
A tornado watch is in effect til whenever. No deadline was listed. Across LA, MS, and AL and part of FL.
He could open some of the Strategic Petroleum Reserve. This *is* what it was made for (among other reasons), as opposed to that stupid thing Klinton did with it "to drive down prices because we think they're too high."
Is the "reserve" there to use in cases like this? I know it wouldn't affect the prices...but I also worry if this is TOO bad, we would also have shortages...
Well, he could start doing what he is being accused of doing in the first place: Steal Iraqi oil.
Open the SPR's. Fast track some new refineries. Attack Venesuela....Just kidding!
Depending on how the oil rigs fare, this would be just the type of crisis which would trigger releasing some of the strategic oil reserves, IMO. Others may disagree, wanting to let market forces work and for people to alter their behaviors to save gas.