Posted on 03/15/2012 8:57:11 AM PDT by SeekAndFind
From the Daily Telegraph:
15.26 (GMT) Reuters is reporting that the UK expects a formal request shortly from the US to release its emergency oil reserves. Brent has fallen on that news.
16.12 An aide to US President Barack Obama has said the oil release reports are “inaccurate”. Brent on the way back up.
Or to quote ZeroHedge: “For those who wonder what just happened, it is called a “headline market test” - since Crude dropped less than $2 on the report of the release, the final action, which would be very politically unpopular, may just not be worth it for Barry.”
Gas prices started “spiking” in February 2011.
To Obama and the Democrats, losing the election would be a national emergency. Releasing oil from the SPR is about as effective at lowering gas prices as a $100 tax rebate is at spurring the economy.
He'd have to time the release for several weeks before the election to get a 5¢ drop. His only hope for seriously lower gas prices is for the Iranians to overthrow Ahmadinejad and renounce their plans to build the bomb. Not too likely.
Hey, it worked last time....oh, wait...it didn’t.
Are knee pads ready? We'll bow to the Sauds AND pledge allegiance to a flag with Obama's picture on it.
Thanks liberal elites ...
This will be really disgusting if he taps into our oil reserve just to win votes!!!
Man, that title seems awfully queer.
I wonder if Nancy Leprosy will stage a phony Congressional hearing with “Sandra Frack” talking about how she heard a friend of a friend of hers got cancer or something from drinking well water near a fracking site and that the wealthy, white males who run these fracking operations must be stopped for the good of all the poor, disadvantaged peoples of the world who obviously can’t afford cancer treatments since they can’t even afford their own contraception.
Who did the reporting on this one, Jake Tapper?
I have a theory and it is my contention that the Obama Administration will First: Foment the gas prices and allow them to rise as much as possible thus allowing the GOP to tie a heck of a lot of resources into slamming the President for inability to lower the gas prices ........ THEN .... a month or so before the election release the SPR and announce that he will stop the moratorium on off shore drilling, etc. This would then start the oil prices to start slipping and lowering. Thus diminishing the GOP argument. ..... The Saudis are already hinting that they may begin increasing their output soon.
Hopefully the GOP nominee will have a "Plan B" and won't tie up his entire campaign into this one basket!! The president is vulnerable on so many fronts .... and he may be suckering and playing conservatives like a fiddle on this one. He is a community agitator by trade and knows how to control people. "Never underestimate the abilities of your opponent" .... is a good philosophy to have. Especially when the opponent is a known liar and deceiver.
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