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.
BRIBE...FRAUD...BUY...LIE....
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.
Beyond stupid.
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.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.