Everything Obama does is political, Why release Oil reserves now?

Discussion in 'Politics' started by JRK, Jun 24, 2011.

  1. JRK
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    JRK Senior Member

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    Can any of you liberals explain to me why release oil now? what is that going to do to create jobs?
    it is a band aid at best.
    Gas has went down every week now for many weeks

    Its like blaming the 14 trillion dollar deficit on Afghanistan, when we know the failed stimulus and his 1/2 of tarp cost more than both wars
    To start with we did not start either of those wars

    Its the price of being free Obama
     
  2. Sallow
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    Sallow The Big Bad Wolf. Supporting Member

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    Republicans didn't want to do anything about speculators..and they were complaining about rising gas prices.

    This is a big fuck you..to that.

    Bully!
     
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  3. Nunyadb
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    Nunyadb Member

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    It dumped world oil prices, so that was a great big "Fuck You" to the commodities market speculators.

    Of course, it won't do shit for gasoline prices, but it did knock hell out of the speculators.

    Oil prices will recover and go even higher in a couple of months, if it takes that long.
     
  4. Sallow
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    Sallow The Big Bad Wolf. Supporting Member

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    I sorta don't think so for a couple of reasons.

    The supply/demand paradigm doesn't justify it.

    And now that there is an oil "glut", if speculation still drives up oil prices this will be more fuel for regulators.
     
  5. Nunyadb
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    Nunyadb Member

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    Sallow, that oil glut ain't all it's cracked up to be.
    There are serious games being played on all sides right now.

    What you are actually seeing is governments taking on the markets in an effort to keep themselves
    afloat during these days when they are all almost insolvent.

    Problem is, at current consumption levels, the oil shoved onto the markets won't last all that long
    and OPEC is going to be there jacking up the prices to make up for the money they lost.

    Refineries are putting out as much gasoline as is needed, so dropping oil prices won't do jack shit
    for the gasoline & diesel prices.

    Remember, when there's government involved, there's real corruption at the heart of anything
    that is done. I remember when liberals distrusted the government. I miss those days.

    I no more trust any government than I do the devil himself, not that there's a difference.
     
  6. Claudette
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    Claudette Gold Member

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    Your so right.

    Gas prices were on the way down so why release the reserve oil now??

    You can bet any bang from that release won't last long. What happens then??

    Ol'BO's policies haven't done jack for the economy and he knows it. IMHO its all just politics.
     
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  7. Nunyadb
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    Nunyadb Member

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    Well, it did do one thing.
    It reduced the supply available in America's emergency oil reserves.
    At a time when doing so didn't really generate any real revenue and there was no shortage
    of oil on the world market. So what happens when the Arabs turn off the spigots ?
    We have less on hand and it's going to hurt our economy even more just that much faster.

    jmho
     
  8. The Rabbi
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    The Rabbi Diamond Member

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    SO the entire policy is childish "payback" to a group of people who will go on and prosper from this? Because remember with every commodities trade there is a winner on one end and a loser on the other.

    You might actually be right. Such a reason is so stupid and short-sighted it might just be the answer.


    Personally I think it reflects Obama's continuous mishandling of policy and general ability to screw up a one-car procession. He is the most incompetent president ever.
     
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  9. Sallow
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    Sallow The Big Bad Wolf. Supporting Member

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    This isn't the first time..or first president to do this..and it won't be the last. Commodities aren't static..they are fluid. And if you have a component of that industry dedicated solely to profit..and profit without ethics..that has to be addressed.
     
  10. Nunyadb
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    Sallow, I have no love of nor use for commodities speculators.
    That being said, I honestly don't see where this did all that much in the big picture.
    It didn't really help, and in the long run it very well could hurt.

    This is one where we'll have to wait and see how it all shakes out.
    Unintended Consequences always jump up and bite us.
     

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