Skip to comments.Exclusive: White House dusting off plan for potential oil release
Posted on 08/16/2012 11:51:42 AM PDT by Free ThinkerNY
(Reuters) - The White House is "dusting off old plans" for a potential release of oil reserves to dampen rising gasoline prices and prevent high energy costs from undermining the success of Iran sanctions, a source with knowledge of the situation said on Thursday.
U.S. officials will monitor market conditions over the coming weeks, watching whether gasoline prices fall after the September 3 Labor Day holiday, as they historically do, the source said.
It was too early to say how big a drawdown would be from the U.S. Strategic Petroleum Reserve and, potentially, other international reserves if a decision to proceed was taken, the source said.
(Excerpt) Read more at reuters.com ...
Go ahead 0 and when it has very very little effect it will simply remind everyone how intellectually bankrupt you are on economic and energy issues.
TRanslation: ODUMBO is going to try a hail mary pass by manipulating gas prices right before the election.
“...to dampen rising gasoline prices and prevent high energy costs from undermining the success of Iran sanctions...”
I call B.S. on this one. Obviously the Obama Administration is doing this to prevent the high gas/oil prices from hurting his election chances. Once the election is over, up the gas prices will go again.
This is not what the oil reserves should be used for (Obama’s own personal gain). Doesn’t any other authoratative body have to give the go-ahead for this to occur, or will this be done by executive order?
Once again...I will post.
SO TO THE JERK IN OUR WHITE HOUSE....DRILL HERE DRILL NOW... DON’T OFFER A COUPLE PENNIES, WE CAN’T BE BOUGHT..GO BACK TO AFRICA.
Wouldn't it be nice IF we had a standard for the whole country where they worry about pollution?
There, fixed it.
Because it’s so much easier to waste resources than to exercise leadership.
de-escalate the Syria adventure, and publicly back Israel to the hilt, deploy Aegis Cruisers as a missile shield and make a big show of resurrecting the ABL, bluffing a deployment if required. Oil prices would collapse.
Hmm Ayn Rand’s quote on the looters not caring about anything but the loot lasting their lifetime comes to mind. Considering dear leader makes six figures a year and will probably still make it after he gets thrown out, it’s no wonder his only concern regarding gas prices is that they don’t affect him politically.
There are now more than 50 varieties of gasoline sold in the US,
I predict these dusted off plans will come into effect....
just a few weeks before the election.
Class, can you say ma-nup-u-la-tion?
IMHO, the People at large are beginning to, and they're getting really ticked!
Monumentally stupid idea.
The National Strategic Reserve is intended to exist to safeguard national security, not for political manipulation.
Just see it for what it is, another Obama "great idea" and enough said.
The Chicago Robin Hood rides again!
Yes. Too many blends. Of course California’s is the most stringent thank to unelected boards like AQMD (Air Qulity Management District).
Dumping it on the market for votes while Israel is talking about a 30 day war with Iran.
Another in a long line of anti-American moves by 0bama.
As you said, it is named the U.S. Strategic Petroleum Reserve for a reason.
I see this differently than what everyone else does.
Obama decides to release some oil unexpectedly.
He has one of his Deacons who worship at his feet get hold of a few dozen big investment types who have large holdings in energy and gives them the inside scoop before the announcement.
They sell short.
He announces and the prices take a dive.
They make untold millions and a percentage of that goes into PACs now that they can contribute unlimited amounts into campaigns.
It’s all about his predecessor, Mr. Benjamen...
Let’s see....”we can’t drill ourselves out of this mess” as a permanent solution...but we can release our strategic reserves....and affect prices...temporarily.
Typical of everything the Obama administration does.
....and the fact that the Richmond refinery (supplies 10% or so of CA petrol) just shut down due to a major fire.
The company I used to work for wanted to build a state of the art asphalt loadout facility in Stockton.
By the time the state air board, the county board and the neighborhood committee got done working us over, we built the thing in Reno.
(I did enjoy having meals at Trader Vic's in Emeryville, tho.)
IIRC, they already made a release a couple of months ago.
Hasn’t the bootlicking liberal press spent tons of time and space telling us the President or his policies have absolutely no affect on gas prices? The O-bots will tell you that Obama cannot do anything about the gas prices..it’s up to the world supply/demand, the tsunamis, George Bush, the party of NO, etc. So now, the WH wants to try to manipulate the price at the pump? How can they do that when they allegedly have no control over the price at the pump?
It doesn't have to. CA will vote Dem regardless of the price of gasoline.
Obama, here’s a better plan.
1. Hire 10,000 more IRS agents.
2. They know the high incomer earners.
3. Have them siphon the gas from high income earner cars.
4. Pump gas into the clueless voter’s cars.
5. Clueless voter doesn’t notice the price of gas since he has not filled up in months. Everything is cool, votes for Obama.
6. High income earner complains, but no one will cover it.
The authoritative body is the executive branch, lead by the president. The go-ahead permission is granted every 4th year on the Tuesday following the first Monday of November.
The last release was July 2011.
“The National Strategic Reserve is intended to exist to safeguard national security, not for political manipulation.”
Jarrett probably sees Zero’s reelection as safeguarding national security.
...this can’t be. I mean, they just finished telling us that “supply” isn’t the problem, the only solution is to reduce demand !!!?!?!
Now they’re increasing supply?
Errr....can they tell me how this will help when, as they claim, drilling more won’t? Can’t have it both ways.
I get pretty angry EVERY time I hear ANY president or politician suggest we take oil out of the reserve.
IT’S A RESERVE. They use it like they use Social Security funds. We are going to need that oil someday, and we’ll come up empty because a bunch of scumbag politicians used it to buy votes.
I’m apoplectic I don’t even know what to say about this.
I believe that California’s Prob is it’s mandated mixture and lack of susficiant refinery capacity to produce such mixture.