Posted on 06/23/2011 9:42:47 AM PDT by TigerLikesRooster
IEA asks for release of emergency oil reserves
NHK has learned that the International Energy Agency is finalizing talks to release emergency oil reserves of its oil-consuming member nations to help stabilize crude oil prices.
The autonomous organization of 28 major oil consuming countries, including Japan and the United States, is said to be close to securing agreement for the coordinated operation.
The release operation, the first of its kind since 2005, is being planned ahead of an expected rise in gasoline use in the northern hemisphere during the summer holiday season.
Rising crude oil prices since January, due mainly to the political upheaval in northern Africa and the Middle East, have put a brake on global economic growth.
Observers say that the move is aimed to appease the United States, as gasoline prices there are hovering at high levels.
The IEA, founded in response to the oil crises of the 1970s, obliges its member nations to set aside emergency reserves of crude oil and gasoline equivalent to the amount they import in 90 days.
Thursday, June 23, 2011 19:41 +0900 (JST)
Great.....release our reserves to other countries. Drill for our own oil and that will release more oil from the Middle East for other countries. Am I missing something here?
“Am I missing something here?”
President Soros has realized his puppet won’t get reelected, unless he does something drastic, right now, to take the sheeple’s minds off the economy.
Obama does not get relected if gas is still over $3 next summer.
Tell OPEC to release theirs!
“The release operation, the first of its kind since 2005, is being planned ahead of an expected rise in gasoline use in the northern hemisphere during the summer holiday season”
BS ALERT
First of all, what makes this “summer holiday season” something unusual enough to tap into our strategic petroleum reserves???
second, many many people are NOT going on “summer vacation” this year due to unemployment and high gas prices.
SO WHAT IS REALLY GOING ON?
Watch the skies?
This is way too ealry to affect gas prices for next summer
And the gas prices that will matter will be those we are paying on election day 2012
And the gas prices that will matter will be those we are paying on election day 2012
I am of the impression that he will lower gas prices until after the election and then watch out. He’ll attempt to do the same with the economy....even to the point of lying to the people about the economy. The big scare for people be that if he were to get re-elected, he can do anything he wants. At that point, everything will go to hell in a hand basket. I also believe that this is what he wants.
A UN outfit has their hands on the US Military Stratedgic Petroleum Reserve nozzle? David Axelrod is making troop deployment decisions, and not the most accomplish General of modern times, David Patreaus? Last year the Chi-coms shot a rocket off from our left coast, this year their Navy is bullying neighbors in the China seas, and threatening us to stay out of it? It’s getting waaay worse than Carter 2.0.
Yeah. Carter is finally freed from the title “The Worst U.S. President in History.”
getting?????????
This is nothing more than a stimulus package in another form.
It will be refined and sold in the US, right?
Also, the price paid at time of storage must have been lower than the price sold now - who gets the net difference??
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