Because an Obama Presidency Cannot Survive $5/Gal Gasoline
Diane Ellis, Ed. ·
Jun 23, 2011 at 8:31am
The Obama administration announced this morning that it will release 30 million barrels of oil from the U.S. strategic petroleum reserves to offset oil supply disruptions -- the administration cites 1.5 million barrels of oil lost per day in Libya -- caused by tumult in the Middle East. An additional 30 million barrels will be released by partner countries in the International Energy Agency.
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Comments :
May '10
Re: Because an Obama Presidency Cannot Survive $5/Gal Gasoline
How did the Executive branch gain authority over the strategic oil reserves during peacetime? I'm not saying I'm surprised Obama is stealing from a wartime stockpile. But is there nothing in the law under which those reserves were created that says the oil can only be tapped for war purposes?
Jul '10
Re: Because an Obama Presidency Cannot Survive $5/Gal Gasoline
This is absurd. U.S. oil consumption is 18.8 million barrels a day.
Even the market, which should know better, thinks it's some big deal: oil is down 4.5% this morning.
Dec '10
Re: Because an Obama Presidency Cannot Survive $5/Gal Gasoline
Can I see the effects by my next fill up please?
May '10
Re: Because an Obama Presidency Cannot Survive $5/Gal Gasoline
Whenever a president does this -- and Bush did it too -- I see it as a meaningless, cheap political gesture. All that is being accomplished is the President is saying, "look, voters, I'm doing something."
It does nothing substantive or long term to lower gas prices. (Plus, as Aaron Miller pointed out, as a citizen I find it offensive on another level, since that reserve does have a purpose that should be respected.)
Re: Because an Obama Presidency Cannot Survive $5/Gal Gasoline
Drill. Baby. Drill.
Now does he get it?
May '10
Re: Because an Obama Presidency Cannot Survive $5/Gal Gasoline
Right, offshore oil, Alaska, and Shale oil which would supply YEARS of US consumption are "not enough to matter", but tapping a 2 DAY supply out of our national emergency reserve does. The lunacy of the left on this is amazing.
Feb '11
Re: Because an Obama Presidency Cannot Survive $5/Gal Gasoline
Tommy De Seno: Drill. Baby. Drill.
Now does he get it? · Jun 23 at 8:52am
There will be lots of drilling -- in Canada.
May '10
Re: Because an Obama Presidency Cannot Survive $5/Gal Gasoline
We should rename it the Strategic Poll Number Reserve.
Aug '10
Re: Because an Obama Presidency Cannot Survive $5/Gal Gasoline
LOL!!! Good one. He will do anything to get re-elected. It's in the Democrat DNA.
Aug '10
Re: Because an Obama Presidency Cannot Survive $5/Gal Gasoline
It is now the Tactical Petroleum Reserve.
May '10
Re: Because an Obama Presidency Cannot Survive $5/Gal Gasoline
I'm not a person of means but, I would gladly pay five bucks a gallon for a year if it would guarantee a one-term Obama administration.
Feb '11
Re: Because an Obama Presidency Cannot Survive $5/Gal Gasoline
If I understand correctly, DOE and thus executive is in charge. Sales have to meet a high threshold (war and such). I'm behind a paywall, but I doubt this is a sale: more likely an exchange -- a loan in kind to companies with temporary supply disruptions.
Still, even an exchange seems unusual. In the past, they'd occur when there are difficulties getting crude to our refineries, mostly due to weather. This time, the difficulty is farther back in the supply chain.
It's troubling, as it suggests that the Saudis really are at maximum production. Normally, if a conflict is taking oil off the market -- a small decade-long war between Iraq and Iran, say -- Saudis just up production, to help stabilize the market.
For all their religious fetishes, the Saudis have been responsible participants in the global energy market. They know that they, too, die miserably if the world's economy collapses.
This instinctual desire to stay alive is, I think, unique to KSA, being shared by no other Arab country.
Feb '11
Re: Because an Obama Presidency Cannot Survive $5/Gal Gasoline
I'll match that, and also agree to take offline a couple of cylinders and, say, half a liter. It'll be a sacrifice, I know, but if getting by on a tiny little V8 and a mere 6.2L can make a difference, what's a patriot to do....
If worse comes to worse, I'll even consider downsizing to something foreign and compact. The Unimog 435 is remarkably fuel efficient.
May '10
Re: Because an Obama Presidency Cannot Survive $5/Gal Gasoline
John Lamoreaux
I'll match that, and also agree to take offline a couple of cylinders and, say, half a liter. It'll be a sacrifice, I know, but if getting by on a tiny little V8 and a mere 6.2L can make a difference, what's a patriot to do....
If worse comes to worse, I'll even consider downsizing to something foreign and compact. The Unimog 435 is remarkably fuel efficient. · Jun 23 at 10:15am
Now, that's my kind of conservation!
Feb '11
Re: Because an Obama Presidency Cannot Survive $5/Gal Gasoline
I like to think of it as a reward for hard work and not being French.
Sep '10
Re: Because an Obama Presidency Cannot Survive $5/Gal Gasoline
What about the strategic ethanol reserves?