Obama releasing 30M barrels from US oil reserve to offset ME turmoil, high gas

[Trajan]

But Obama's opposition to selling petroleum from the Reserve is not some relic of the days of cheap oil. It was reiterated on July 7,(2008) in St. Louis:

I do not believe that we should use the strategic oil reserves at this point. I have said and, in fact, supported a congressional resolution that said that we should suspend putting more oil into the strategic oil reserve, but the strategic oil reserve, I think, has to be reserved for a genuine emergency. You have a situation, let's say, where there was a major oil facility in Saudi Arabia that was destroyed as a consequence of terrorist acts, and you suddenly had huge amounts of oil taken out of the world market, we wouldn't just be seeing $4-a-gallon oil. We could see a situation where entire sectors of the country had no oil to function at all. And that's what the strategic oil reserve has to be for.

Power Line - The Dishonesty of Barack Obama

 

[LadyGunSlinger]

this is the only place i post where she might show up.
Shame seeing how she is always wrong, just like you but she is fun

LOL Hahahaha Very funny.. Yea, she's a lot of fun. Send her a shout out... She can't resist flirting with you..

seriously who cant resist?

YYou seem to be able to find her. You do it lol

omg.. lmao *throws a tomato at him*

I will and we'll double team you.. well with Tiny, make that a triple on the rocks plz..;-)

 

[FuelRod]

If this measley release scares the speculators off oil I will give Obama his props.

 

[The T]

But Obama's opposition to selling petroleum from the Reserve is not some relic of the days of cheap oil. It was reiterated on July 7,(2008) in St. Louis:

I do not believe that we should use the strategic oil reserves at this point. I have said and, in fact, supported a congressional resolution that said that we should suspend putting more oil into the strategic oil reserve, but the strategic oil reserve, I think, has to be reserved for a genuine emergency. You have a situation, let's say, where there was a major oil facility in Saudi Arabia that was destroyed as a consequence of terrorist acts, and you suddenly had huge amounts of oil taken out of the world market, we wouldn't just be seeing $4-a-gallon oil. We could see a situation where entire sectors of the country had no oil to function at all. And that's what the strategic oil reserve has to be for.

Power Line - The Dishonesty of Barack Obama

Note the $4 figure?

 

[Trajan]

But Obama's opposition to selling petroleum from the Reserve is not some relic of the days of cheap oil. It was reiterated on July 7,(2008) in St. Louis:

I do not believe that we should use the strategic oil reserves at this point. I have said and, in fact, supported a congressional resolution that said that we should suspend putting more oil into the strategic oil reserve, but the strategic oil reserve, I think, has to be reserved for a genuine emergency. You have a situation, let's say, where there was a major oil facility in Saudi Arabia that was destroyed as a consequence of terrorist acts, and you suddenly had huge amounts of oil taken out of the world market, we wouldn't just be seeing $4-a-gallon oil. We could see a situation where entire sectors of the country had no oil to function at all. And that's what the strategic oil reserve has to be for.

Power Line - The Dishonesty of Barack Obama

Note the $4 figure?

look, we know what this is, this thread has been up all day and a lack of push back from some of our more erudite members whom sppt Obama has been severely lacking,why(?), becasue in the end we all know what this is, its a naked political ploy, period.

 

[The T]

But Obama's opposition to selling petroleum from the Reserve is not some relic of the days of cheap oil. It was reiterated on July 7,(2008) in St. Louis:

I do not believe that we should use the strategic oil reserves at this point. I have said and, in fact, supported a congressional resolution that said that we should suspend putting more oil into the strategic oil reserve, but the strategic oil reserve, I think, has to be reserved for a genuine emergency. You have a situation, let's say, where there was a major oil facility in Saudi Arabia that was destroyed as a consequence of terrorist acts, and you suddenly had huge amounts of oil taken out of the world market, we wouldn't just be seeing $4-a-gallon oil. We could see a situation where entire sectors of the country had no oil to function at all. And that's what the strategic oil reserve has to be for.

Power Line - The Dishonesty of Barack Obama

Note the $4 figure?

look, we know what this is, this thread has been up all day and a lack of push back from some of our more erudite members whom sppt Obama has been severely lacking,why(?), becasue in the end we all know what this is, its a naked political ploy, period.

Of course it is. The guy has to get re-elected, despite his past words and deeds. The idiots still fall for it. If I were them? I'd be insulted...they Lap it up as a kitten to milk...

 

[bigrebnc1775]

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

Hell demand is down and they say because of that there is no need of him doing this.

 

[The T]

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

Hell demand is down and they say because of that there is no need of him doing this.

He's practicing symbolism over substance...he has to get re-elected. Bottom line.

 

[bigrebnc1775]

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

Hell demand is down and they say because of that there is no need of him doing this.

He's practicing symbolism over substance...he has to get re-elected. Bottom line.

people are so stupid they will eat ths shit up thinking obama cares about them

 

[Charles_Main]

Let me get this straight....the right attacks Obama when oil prices are too high. They come down, but they give Obama no credit. And now through this move, oil prices are dropping sharply, and the right attacks Obama again. Is that about right?

Dude if you think a measly 30M barrels of Oil is the cause of Dropping Oil prices. You are a fucking fool. This is purely a PR move. 30 Million Barrels will have almost no measurable effect on prices. Besides I thought it was Democrats who were always reminding us the SR is for National Security Reasons, Not to be used to try and lower prices.

In fact this time it isn't even about PR, its about bringing in some cash to avoid the Debt ceiling Debate as long as possible. Nothing more than another Sham.

 

[Dr.House]

Let me get this straight....the right attacks Obama when oil prices are too high. They come down, but they give Obama no credit. And now through this move, oil prices are dropping sharply, and the right attacks Obama again. Is that about right?

Let me get this straight....the left attacks Bush when oil prices are too high. They come down, but they give Bush no credit. And now through not doing this move, oil prices are dropping sharply, and the left attacks Bush again. Is that about right?

Yeah, that's about right.

Bush knew that that oil was for dire emergency and not to be used as an election point.

Are you aware that the oil will have to be replaced?

Looks like VaPudYank didn't get it straight...

 

[The T]

Let me get this straight....the right attacks Obama when oil prices are too high. They come down, but they give Obama no credit. And now through this move, oil prices are dropping sharply, and the right attacks Obama again. Is that about right?

Dude if you think a measly 30M barrels of Oil is the cause of Dropping Oil prices. You are a fucking fool. This is purely a PR move. 30 Million Barrels will have almost no measurable effect on prices. Besides I thought it was Democrats who were always reminding us the SR is for National Security Reasons, Not to be used to try and lower prices.

In fact this time it isn't even about PR, its about bringing in some cash to avoid the Debt ceiling Debate as long as possible. Nothing more than another Sham.

Indeed...Bait and switch...Smoke and mirrors...Just look over here...it's diversion...and more dishonest crap from this POTUS.

 

[The T]

Hell demand is down and they say because of that there is no need of him doing this.

He's practicing symbolism over substance...he has to get re-elected. Bottom line.

people are so stupid they will eat ths shit up thinking obama cares about them

Obama doesn't care SQUAT of them but to take over their liberty.

 

[Charles_Main]

So am I to get this straight. The very same liberals. Who have told us over and over that drilling for Oil In ANWAR for example. Will not lower prices, are now going to tell us that releasing a measly 30 Million Barrels of Oil, Will lower prices?

Really is that what you would have us believe?

 

[uscitizen]

Oil prices were ALREADY DECLINING ON THEIR OWN before Obama made this decision. Seems to me he just wants to ride the wave and later take credit for it.

Possibly, he is a politician first and foremost like virtually all elected officials.
I still sya if the oil and gas companies are complaining it may well be good for the average American.

 

[uscitizen]

So am I to get this straight. The very same liberals. Who have told us over and over that drilling for Oil In ANWAR for example. Will not lower prices, are now going to tell us that releasing a measly 30 Million Barrels of Oil, Will lower prices?

Really is that what you would have us believe?

Liberals are the speculators on Wal street?
They are driving the price down right now not liberals.

 

[Dr.House]

So am I to get this straight. The very same liberals. Who have told us over and over that drilling for Oil In ANWAR for example. Will not lower prices, are now going to tell us that releasing a measly 30 Million Barrels of Oil, Will lower prices?

Really is that what you would have us believe?

Liberals are the speculators on Wal street?
They are driving the price down right now not liberals.

You didn't answer his question....

 

[uscitizen]

So am I to get this straight. The very same liberals. Who have told us over and over that drilling for Oil In ANWAR for example. Will not lower prices, are now going to tell us that releasing a measly 30 Million Barrels of Oil, Will lower prices?

Really is that what you would have us believe?

Liberals are the speculators on Wal street?
They are driving the price down right now not liberals.

You didn't answer his question....

Did so. Not my problem you did not understand.

 

[Dr.House]

Liberals are the speculators on Wal street?
They are driving the price down right now not liberals.

You didn't answer his question....

Did so. Not my problem you did not understand.

Did not. Not my problem you think you did.

 

[uscitizen]

Sigh.. The wal street speculators are the ones saying that releasing a measly 30 mill barrels of oil will drop the price, not the liberals.. sheesh.