Trajan
conscientia mille testes
I put this in politics because that is exactly what this is.......nothing more.
What?....$115.00 a barrel oil wasn't high enough to require a release? BUT $95 is??
And what IS the cost to replace it? Ahhh just put it on Peking Express credit card.
….what a hack Obama is, really, talk about transparent and hes still got a year and several months to go yet…....tsk tsk.
DJ US Plan To Release Oil Reserves Hit By Lawmakers, Oil Sector
WASHINGTON, Jun 23, 2011 (Dow Jones Commodities News Select via Comtex) --
By Tennille Tracy
Of DOW JONES NEWSWIRES
The Obama administration's decision to release 30 million barrels of oil from U.S. strategic reserves is drawing sharp criticism from the oil and natural-gas industry, as well as lawmakers from both sides of the aisle, who say the move is aimed at scoring political points rather than addressing a scarcity of oil supplies in the market.
The administration's decision to tap into the U.S. Strategic Petroleum Reserve is part of a broader effort by the International Energy Agency to release a total of 60 million barrels into the market to make up for supply disruptions in Libya. The IEA said disruptions in the North African country had drained 132 million barrels of light, sweet crude oil from the market by the end of May.
"I expect this action will contribute to well-supplied markets and to ensuring a soft landing for the world economy," IEA Executive Director Nobuo Tanaka said in a statement.
Thursday's disclosure by the U.S. caught many by surprise, in part because the Obama administration sidestepped calls for a release of oil reserves earlier in the year, when crude oil was trading for more than $100 a barrel. Since then, crude-oil prices have dropped and gasoline prices have edged off their recent high points. The average price of gasoline is now $3.61, down from $3.83 a month ago, according to the AAA Fuel Gauge.
"This decision would have been more timely if made when the disruption in Libyan oil supplies first occurred," said Sen. Jeff Bingaman (D., N.M.), chair of the Senate Energy and Natural Resources Committee. Bingaman said he hopes the move will curb "speculative froth" in the oil markets and lead to lower prices.
The committee's ranking Republican, Sen. Lisa Murkowski of Alaska, accused the Obama administration of trying to "dodge political accountability" for the state of the economy and said "these reserves are not a political tool and should not be used as such."
more at-
DJ US Plan To Release Oil Reserves Hit By Lawmakers, Oil Sector
and national journal, lets get down to cases-
"Republicans have repeatedly slammed President Obama over the unusually high prices, and Obama himself has noted his poll numbers appear to rise and fall with the price of gasoline. Many political strategists say that voter anger over near-record oil and gasoline prices could be a determining factor in the 2012 elections."
hat tip hot air, and
NationalJournal.com - U.S. Releases 30 Million Barrels of Oil From Petroleum Reserve - Thursday, June 23, 2011
What?....$115.00 a barrel oil wasn't high enough to require a release? BUT $95 is??
And what IS the cost to replace it? Ahhh just put it on Peking Express credit card.
….what a hack Obama is, really, talk about transparent and hes still got a year and several months to go yet…....tsk tsk.
DJ US Plan To Release Oil Reserves Hit By Lawmakers, Oil Sector
WASHINGTON, Jun 23, 2011 (Dow Jones Commodities News Select via Comtex) --
By Tennille Tracy
Of DOW JONES NEWSWIRES
The Obama administration's decision to release 30 million barrels of oil from U.S. strategic reserves is drawing sharp criticism from the oil and natural-gas industry, as well as lawmakers from both sides of the aisle, who say the move is aimed at scoring political points rather than addressing a scarcity of oil supplies in the market.
The administration's decision to tap into the U.S. Strategic Petroleum Reserve is part of a broader effort by the International Energy Agency to release a total of 60 million barrels into the market to make up for supply disruptions in Libya. The IEA said disruptions in the North African country had drained 132 million barrels of light, sweet crude oil from the market by the end of May.
"I expect this action will contribute to well-supplied markets and to ensuring a soft landing for the world economy," IEA Executive Director Nobuo Tanaka said in a statement.
Thursday's disclosure by the U.S. caught many by surprise, in part because the Obama administration sidestepped calls for a release of oil reserves earlier in the year, when crude oil was trading for more than $100 a barrel. Since then, crude-oil prices have dropped and gasoline prices have edged off their recent high points. The average price of gasoline is now $3.61, down from $3.83 a month ago, according to the AAA Fuel Gauge.
"This decision would have been more timely if made when the disruption in Libyan oil supplies first occurred," said Sen. Jeff Bingaman (D., N.M.), chair of the Senate Energy and Natural Resources Committee. Bingaman said he hopes the move will curb "speculative froth" in the oil markets and lead to lower prices.
The committee's ranking Republican, Sen. Lisa Murkowski of Alaska, accused the Obama administration of trying to "dodge political accountability" for the state of the economy and said "these reserves are not a political tool and should not be used as such."
more at-
DJ US Plan To Release Oil Reserves Hit By Lawmakers, Oil Sector
and national journal, lets get down to cases-
"Republicans have repeatedly slammed President Obama over the unusually high prices, and Obama himself has noted his poll numbers appear to rise and fall with the price of gasoline. Many political strategists say that voter anger over near-record oil and gasoline prices could be a determining factor in the 2012 elections."
hat tip hot air, and
NationalJournal.com - U.S. Releases 30 Million Barrels of Oil From Petroleum Reserve - Thursday, June 23, 2011
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