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

[percysunshine]

1.5 days of US consumption?

So by Monday, things will be back to normal.

 

[Dr.House]

0bama is a wall street speculator now? sheesh...

 

[uscitizen]

0bama is a wall street speculator now? sheesh...

Stop being so oblique.

 

[LadyGunSlinger]

You didn't answer his question....

Did so. Not my problem you did not understand.

Did not. Not my problem you think you did.

That idiot knows he didn't answer it BECAUSE HE CAN'T.. It shows him and the leftist sheep to be liars..

 

[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?

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

You fail to understand the point.

Liberals told us Drilling for more of our Own Oil will not help lower prices (BS of course but that's what they said)

Now some of those very same liberals, are claiming releasing 30M barrels of Oil from SR will lower prices?

Get it?

in Fact Obama has said on many occasions that we can not drill our way out of the problem, and that Drilling will not lower Gas Prices, but now he wants us all to believe Releasing what amounts to Drop in the bucket from the SR, will LOWER prices.

Still done get it?

 

[Dr.House]

0bama is a wall street speculator now? sheesh...

Stop being so oblique.

Stop deflecting....

 

[Charles_Main]

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.

No you didn't. You clearly did not understand it at all.

See above post. Of course it is speculators that drive prices up and down, the point is Liberals, and OBAMA tell us that drilling for more of our own oil which will add more supply. WILL NOT LOWER the price at the pump, YET NOW liberals and Obama are saying that this release by Obama will help lower Prices at the pump.

If you can't get it, you are indeed slow.

 

[uscitizen]

I guss he must be behind in the polls.

Behind who?

 

[Trajan]

You didn't answer his question....

Did so. Not my problem you did not understand.

No you didn't. You clearly did not understand it at all.

See above post. Of course it is speculators that drive prices up and down, the point is Liberals, and OBAMA tell us that drilling for more of our own oil which will add more supply. WILL NOT LOWER the price at the pump, YET NOW liberals and Obama are saying that this release by Obama will help lower Prices at the pump.

If you can't get it, you are indeed slow.

look, we have had debates here on drilling and I clearly remember people going off, denigrating opening up another patch in say, Anwar for a measly 500k or 1 million barrels a day for oh 5 years didn't make a difference yet here we are, THIS s supposed to make a difference?

above, earlier I made a similar point, they speak with forked tongue.....in other words, progressive economics, "any way they want it at any particular time"..

 

[Dr.House]

I guss he must be behind in the polls.

Behind who?

a "generic Republican candidate"

NationalJournal.com - Is There a 'Generic Republican' to Beat Obama in the Polls? - Tuesday, June 21, 2011

 

[Flopper]

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?

Actually it's 60 million. 30 million from the US and 30 million from other countries.

 

[oreo]

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?

Actually it's 60 million. 30 million from the US and 30 million from other countries.

No--our stategic reseveres are in THIS COUNTRY--not Brazil-- It's 30 million barrels--out of our reserve of 737 million.

This is nothing more than political advisors of Barack Obama telling him to do it--in this attempt--to throw a HAIL MARY PASS--because his approval numbers have plummeted several points in the last two weeks.

Unemployment still high and going higher--after Obama has borrowed and spent over 1 trillion dollars trying to micro-manage it.

BTW--Obama claiming that we are drilling more in this country than ever? He conveniently forgets to mention that those permits to drill--came from the Bush admininstration.

 

[logical4u]

This proves that he knows conservatives are right about supply and demand. Drill, baby, drill.
This is a political ploy to appeal to the lefties to raise his poll numbers. It is temporary, it will not last. It is just like a liberal to spend another's wealth and claim they are the solution.

 

[Contumacious]

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?

Come Brainiac, oil prices are coming down and so is Obama's approval rating.

.

 

[waltky]

Oil reserves tapped, some cry foul...

Surprise oil release targets speculators
6/23/2011 - Weakened demand, ample supplies send crude prices tumbling

Thursday’s surprise release of 60 million barrels of crude reserves is not about keeping oil consumers well supplied. It’s about chasing oil speculators out of the market. And it seems to be working. “This is the straw that breaks the camel’s back — this is the tipping point,” said Fadel Gheit, oil analyst for Oppenheimer, a leading investment bank. “The speculators will have to change their positions. Instead of betting on higher prices they have to bet on lower prices."

In a coordinated move, U.S. and European energy officials announced they would release 60 million barrels of oil from strategic stockpiles over the next month after OPEC failed this month to agree on an increase in production. Those extra OPEC barrels were supposed to replace crude output lost when civil war in Libya shut down production. "This supply disruption has been underway for some time and its effect has become more pronounced as it has continued," said the International Energy Agency in a statement. It said expectations were that Libyan production would remain off the market for the rest of 2011. "Greater tightness in the oil market threatens to undermine the fragile global economic recovery," it said.

But independent analysts said the move was aimed more at bursting the speculative bubble rather than substantially improving market supply. Lowering oil prices further would help boost the weak U.S. economy at a time when both the Fed’s monetary stimulus and the government’s spending stimulus are winding down. Based on the market's immediate response, the plan seems to be working.

News of the oil release sent gasoline tumbling 14 cents a gallon in the futures markets. That’s the equivalent of about $56 million a day in savings at the gas pump — or about $20 billion a year, according to Peter Beutel, and oil analyst a Cameron Hanover. In New York trading crude oil was down $4.01 to $91.40 a barrel, more than 20 percent below peak levels of $114 hit in early May. “It’s a shot in the arm for the economy,” said Beutel. “It acts like a massive tax rebate to the American consumer.”

More Surprise oil release targets speculators - Business - Going Green - msnbc.com

 

[Flopper]

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?

Actually it's 60 million. 30 million from the US and 30 million from other countries.

No--our stategic reseveres are in THIS COUNTRY--not Brazil-- It's 30 million barrels--out of our reserve of 737 million.

This is nothing more than political advisors of Barack Obama telling him to do it--in this attempt--to throw a HAIL MARY PASS--because his approval numbers have plummeted several points in the last two weeks.

Unemployment still high and going higher--after Obama has borrowed and spent over 1 trillion dollars trying to micro-manage it.

BTW--Obama claiming that we are drilling more in this country than ever? He conveniently forgets to mention that those permits to drill--came from the Bush admininstration.

You're right it was barrels not dollars.

Countries that make up the International Energy Agency, including the United States, said they would add a total of 60 million barrels of crude from strategic reserves to world oil markets in the next 30 days to drive down petroleum prices. An economic slow down is not just a US problem. It is an international problem requiring an an international response which is exactly what happened.

Tapping of reserves topples oil prices - JSOnline

 

[editec]

So let me get this straight.

Its okay for privately owned corporations to make money on the flucuation of commodities.

Its okay for private corporations to make money by investing in foreign enterprises that compete with onshore businesses.

But it is NOT OKAY for the people government to buy low and sell high, or to invest that will not share the wealth with the nation do?


Now there's a telling example of just how much some of you self proclaiming libertarians, conservative or lovers of sham Capitalism really fucking HATE this nation and its people.

Seriously, why do you people HATE your neighbors os much?

What are you so afraid of, really?

 

[LadyGunSlinger]

So let me get this straight.

Its okay for privately owned corporations to make money on the flucuation of commodities.

Its okay for private corporations to make money by investing in foreign enterprises that compete with onshore businesses.

But it is NOT OKAY for the people government to buy kow and sell high, or to invest that will not share the wealth with the nation do?


Now there's a telling example of just how much some of you self proclaiming libertarians, conservative or lovers of sham Capitalism really fucking HATE this nation and its people.

Seriously, why do you people HATE your neighbors os much?

What are you so afraid of, really?

All of you government weenie types are scary..

 

[PLYMCO_PILGRIM]

Why did obama do this? To increase the supply and ease the high price of oil/gas right?

Hmmmmm....so why doesn't he just push for us drill more to do this?

 

[LadyGunSlinger]

Why did obama do this? To increase the supply and ease the high price of oil/gas right?

Hmmmmm....so why doesn't he just push for us drill more to do this?

Bingo.. because we all know this is pure theatrics concerning the 2012 election cycle.. That jerk ADVERTISED his intent regarding SKY HIGH energy prices and the libs know it but it's their messiah so they have to carry his dirty water..