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House Dems to Obama: Be ready to tap emergency oil reserves (Sea levels to rise?)
The Hill ^ | 2/22/12 | Andrew Restuccia

Posted on 02/22/2012 5:12:30 PM PST by Libloather

House Dems to Obama: Be ready to tap emergency oil reserves
By Andrew Restuccia - 02/22/12 03:20 PM ET

Three House Democrats urged President Obama Wednesday to consider releasing oil from the country's emergency stockpiles in order to lower gas prices.

The lawmakers warned that tapping the Strategic Petroleum Reserve (SPR), a 696-million-barrel stockpile of oil stored in salt caverns along the Gulf Coast, could soon be necessary to combat rising prices they say stem from market speculation.

“It is essential that the United States have an aggressive strategy for releasing oil from the Strategic Petroleum Reserve to combat the speculators capitalizing on the fear in oil markets and to send a message to Iran that we are ready, willing, and able to deploy our oil reserves,” the Democrats said in a letter to Obama.

“Signaling that the United States will continue to employ an aggressive SPR policy in the near term would send a strong signal to oil markets responding to the unrest in the Middle East.”

Oil prices have soared amid threats by Iran to halt oil shipments. Gas prices are also on the rise. The average gallon of gas cost about $3.58 on Wednesday, according to AAA — that's up from this time last month ($3.38 per gallon) and this time last year ($3.17 per gallon).

The White House approved the release of 30 million barrels of oil from the SPR last summer to combat supply losses from Libya that officials said were threatening the economic recovery.

The GOP roundly criticized the president for releasing SPR oil last year, arguing it was a ploy to score political points amid high gas prices.

Press secretary Jay Carney said last week that the administration won’t rule out tapping the reserve again.

“We never take options off the table, but I have nothing — no announcements to make or anything like that,” Carney said.

Emergency sales of oil from the reserve are rare and have occurred in 1991 at the outset of Operation Desert Storm and again in 2005 after Hurricane Katrina hobbled the Gulf’s refining sector.

Republicans are pummeling Obama over high gas prices, taking aim at his energy policies and calling for a dramatic expansion of domestic oil-and-gas drilling.

The president will tout his energy record Thursday during a speech at the University of Miami.


TOPICS: Crime/Corruption; Extended News; Government; News/Current Events
KEYWORDS: emergency; house; oil; reserves
RATS like low gas prices only during big election years? That's strange...
1 posted on 02/22/2012 5:12:42 PM PST by Libloather
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To: Libloather
releasing oil from the country's emergency stockpiles in order to lower gas prices.

That

is

NOT

what

it

is

for!

2 posted on 02/22/2012 5:15:21 PM PST by BenLurkin (This is not a statement of fact. It is either opinion or satire; or both)
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To: Libloather

I don’t recall that this reserve was built, at great public expense, as a political tool.

If the military runs out of fuel during a crisis, I’ll make a guess as to how and where they will use the last of it!


3 posted on 02/22/2012 5:17:03 PM PST by The Antiyuppie ("When small men cast long shadows, then it is very late in the day.")
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To: BenLurkin
Maybe they really mean the one in Canada.
4 posted on 02/22/2012 5:18:48 PM PST by tractorman (I never miss a chance to tweak a liberal.)
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To: Libloather

It worked for Clinton.


5 posted on 02/22/2012 5:21:40 PM PST by <1/1,000,000th%
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To: Libloather

Hark! It’s the cry of the Democrat...

“Loot, baby, loot!”


6 posted on 02/22/2012 5:21:46 PM PST by mrsmith (So... how's the Tea Party nominee for your House seat doing?)
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To: Libloather

It seems simple to me. Stop exporting oil.

Makes more sense than robbing the reserves.


7 posted on 02/22/2012 5:21:56 PM PST by Venturer
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To: Libloather

....RATS know they are in serious trouble. OBAMA being ready means after the NBA playoffs and two rounds of golf, maybe he’ll respond, or he’ll go on vacation.


8 posted on 02/22/2012 5:23:49 PM PST by Doogle (((USAF.68-73..8th TFW Ubon Thailand..never store a threat you should have eliminated)))
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To: Libloather

Psychotic moron Progressives in action.

IMHO


9 posted on 02/22/2012 5:24:09 PM PST by ripley
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To: Libloather
We do not have an oil shortage problem, we have a money printing problem. Fuel usage is at an all time low. But if the demorats want to smack the oil speculators it is fine with me.
10 posted on 02/22/2012 5:25:25 PM PST by org.whodat (Sorry bill, I should never have made all those jokes about you and Lewinsky, have fun.)
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To: Libloather

I think the Dems had better consider keeping their powder dry on this.

It’s going to be a long, hot-under-the-collar summer, and you can only shoot the oil reserve shot once, and the stooges only make asses of themselves blaming everyone and everything else only so many times.

It’s going to be a long, hot-under-the-collar summer. The good news is, that the cities will probably be pretty peaceful - a Molotov cocktail will cost more than a cocktail cocktail by then.


11 posted on 02/22/2012 5:25:44 PM PST by The Antiyuppie ("When small men cast long shadows, then it is very late in the day.")
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To: thackney

Petro Ping.


12 posted on 02/22/2012 5:26:50 PM PST by Army Air Corps (Four Fried Chickens and a Coke)
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To: Libloather

I guess they missed dumbass Pelosi’s demagoguery today that there is no shortage of oil and rising prices are being fueled by the evil 1% on Wall Street aided by those rascally Republicans that refuse to back anti-speculation legislation.


13 posted on 02/22/2012 5:27:16 PM PST by A message
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To: Libloather

makes sense the dems see a person with a 12 inch gash in their side and call for a half inch square bandage to cover it up instead of a compress bandage and sewing up the wound.

i.e. they won’t open up alaska, all of the off shore drilling sites and drilling for oil on government land to solve the problem, long term.


14 posted on 02/22/2012 5:31:44 PM PST by GreyFriar
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To: BenLurkin

Tactically perfect move by the president who wants to bring this country to it’s knees. Deplete the strategic reserve just prior to a middle east shooting war.

Makes total sense.


15 posted on 02/22/2012 5:35:24 PM PST by Newbomb Turk (Hey Newbomb, Where's your brothers El Camino ?)
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To: Libloather

Getting ready to fool the sheep one more time. Thhis should be the last time that it will be necessary.


16 posted on 02/22/2012 5:37:08 PM PST by sport
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To: BenLurkin

http://www.fossil.energy.gov/programs/reserves/spr/emergency_oil_requests.html

Requests for SPR Assistance

Requests for SPR assistance must be submitted in writing to the Deputy Assistant Secretary for Petroleum Reserves. The request should be by e-mail to david.johnson@hq.doe.gov (or FAX 202-586-7919), with copies to at least one other Washington, DC Program Office Point of Contact, and should include:

A description of the circumstances causing your supply shortage.

Our president is a butthole who kills attempts to locate new oil supplies in this country and vetoes efforts to buy oil from close friends, then tries to pin the blame for his fecklessness on others.
And his `wife’ is burning thousands of gallons of aviation fuel and premium gasoline each month to try and forget their miserable failure; this month, in order to `face-plant’ on Aspen’s bunny slopes.


17 posted on 02/22/2012 5:38:32 PM PST by tumblindice (Whitey-American: Taxed Enough Already)
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To: Libloather

It is so obvious that these people are attempting to set us up for the great fall. And they want to make sure that we have no resources on which to defend ourselves or to pick ourselves back up. They are doing every thing they can to make sure that when we die... Then we stay dead.


18 posted on 02/22/2012 5:51:04 PM PST by Revel
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To: Libloather
Releasing reserves will not lower prices.
The refined products will be exported to keep domestic stocks low and prices up.

The USA's number one export for 2011 was gasoline & diesel fuels.

19 posted on 02/22/2012 5:51:28 PM PST by Deaf Smith
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To: Libloather

20 posted on 02/22/2012 5:51:45 PM PST by Colonial Warrior (Help us OB/GYN! You are our only hope!)
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To: Libloather

So gasolibe will be $5.95/gal instead of $6.00.


21 posted on 02/22/2012 6:16:05 PM PST by Mike Darancette (Romney just makes me tired all over.)
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To: Deaf Smith

Just to back up post #19...
http://online.wsj.com/article/APf917509ee61344a38638e2c08bc47090.html


22 posted on 02/22/2012 6:20:24 PM PST by Deaf Smith
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To: Libloather

If high prices are due to speculation, then raise margin requirements, limit the amount of contracts traders can hold, and make holders of large positions identify themselves.

But high prices are mostly due to a debased dollar which is best measured by the old standby, the price of gold.


23 posted on 02/22/2012 6:22:05 PM PST by Kenny500c
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To: Libloather
WOW, what a great idea!

The US only uses about 20 million barrels of oil a day, so draining our entire reserve could supply us for, what... almost two months?

24 posted on 02/22/2012 6:38:57 PM PST by Baynative (Please check this out - http://www.youtube.com/watch?v=fFIcZkEzc8I)
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To: <1/1,000,000th%
It worked for Clinton.

More so for Gore. The Elk Hills reserve was sold by the Clinton Gore regime to Occidental Petroleum. Occidental also pays Gore for mineral rights on his palatial spread. Armand Hammer thought so highly of Gore's father, he was quoted as saying"...don't worry about him, he i sin our pocket."

Gore's large Occidental holdings increased in worth accordingly.

25 posted on 02/22/2012 7:07:37 PM PST by BigLittle
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To: Libloather

Nah Barry... Don’t worry about that $4+ gasoline price. The masses will pay that in honor of you..... Just go with it.....


26 posted on 02/22/2012 7:14:27 PM PST by eeriegeno (<p>)
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To: Libloather

The Dummycrat wouldn’t have to plea for tapping any oil reserves if they would have agreed to drillin ANWR 10 years ago. Remember, 10 years ago they said drilling there wouldn’t have any impact for 10 years. It’s now 10 years.


27 posted on 02/22/2012 7:23:05 PM PST by From The Deer Stand
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To: Libloather

The Dems are getting ahead of themselves. He will release reserves in October just before the election. I did not think it was possible to politicize strategic oil reserves but the Dems always find a way.


28 posted on 02/22/2012 7:32:40 PM PST by chuckee
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To: Libloather

“Three House Democrats urged President Obama Wednesday to consider releasing oil from the country’s emergency stockpiles in order to lower gas prices.”

The National Strategic Reserves is designed to primarily counter a severe interruption of supply.

I guess to the Democrats, getting FIRED by the American People for Miss-Management of National Resources is a National Emergency.

Sorry, but that is a FAIL.

Truth hurts doesn’t it, Democrats?


29 posted on 02/22/2012 7:36:00 PM PST by Danae (Anailnathrach ortha bhais beatha do cheal deanaimha)
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To: Danae
Giving Liberals political power is like giving your 15 year old son the car keys, gas card and two bottles of whiskey.
Nothing good can happen.
TWB
30 posted on 02/22/2012 7:40:08 PM PST by TWhiteBear (Sarah Palin...The Flame of the North)
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To: TWhiteBear

You forgot the naked open razor blades and loaded .45’s.

I hear ya!


31 posted on 02/22/2012 7:45:55 PM PST by Danae (Anailnathrach ortha bhais beatha do cheal deanaimha)
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To: Doogle

Naw, have you not heard? Bozo is going to give a speech on high gas prices. Yeah, that will fix it. Talk always does.


32 posted on 02/22/2012 8:51:24 PM PST by pankot
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To: Libloather
Emergency sales of oil from the reserve are rare and have occurred in 1991 at the outset of Operation Desert Storm and again in 2005 after Hurricane Katrina hobbled the Gulf’s refining sector.

amazing....they go from Bush 41 right to Bush 43 and forget Clinton's release during the heat of the 2000 presidential campaign.
33 posted on 02/22/2012 8:52:21 PM PST by stylin19a (time to Obamanos)
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To: Venturer
Stop exporting oil.

We export very little crude oil. Essentially all of it goes to Canada, because that little piece of production is closer to Canadian Refineries than ones in the US.

http://www.eia.gov/dnav/pet/pet_move_expc_a_EPC0_EEX_mbblpd_m.htm

We have started exporting some refined product, because our domestic demand has fallen greatly.

So with our reduced demand, we now refine more than we consume, and we are exporting some of that surplus. I think that is a lot better than idling refineries and cutting jobs.

34 posted on 02/22/2012 9:08:30 PM PST by thackney (life is fragile, handle with prayer)
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To: Deaf Smith
The refined products will be exported to keep domestic stocks low

Our stocks are not low.


35 posted on 02/22/2012 9:18:03 PM PST by thackney (life is fragile, handle with prayer)
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To: Deaf Smith
The refined products will be exported to keep domestic stocks low

Our stocks are not low.


36 posted on 02/22/2012 9:18:18 PM PST by thackney (life is fragile, handle with prayer)
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To: Libloather

Releasing the strategic reserve to lower gas prices will do as much for the price of gas as confiscating every penny the rich have to lower the debt.


37 posted on 02/23/2012 4:48:21 AM PST by jmaroneps37 (Conservatism is truth. Liberalism is lies.)
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