Posted on 03/04/2012 5:35:27 AM PST by tobyhill
House Minority Leader Nancy Pelosi (D-Calif.) on Thursday endorsed tapping the Strategic Petroleum Reserve to combat rising gas prices – breaking ranks with her top deputy in the House, who is wary of the idea.
Pelosi said that using the oil reserve was her “personal favorite” short-term fix to not only lower gas prices but also send a message to speculators in the oil markets, whom Pelosi blamed for the increasing costs. The oil reserve, Pelosi said, needs to be “prominently on the table.”
“Every time oil has been diverted or taken from the [Strategic Petroleum Reserve] — one or the other or both — the price at the pump has gone down,” she told reporters. “But even if you don’t subscribe to that, that at least puts a question mark to the speculators that you might do this.”
That’s the argument coming from three House Democrats who have urged President Barack Obama to open up the 700-million-barrel reserve, the oil of which is stored in the Gulf of Mexico. The lawmakers – Vermont Rep. Peter Welch, Connecticut Rep. Rosa DeLauro and Massachusetts Rep. Ed Markey – believe releasing even a part of the oil reserve will affect market speculation and bring down gas prices.
(Excerpt) Read more at politico.com ...
Was there any question that this was going to be done to allow Obama to be elected? Of course, this is what the strategic reserve is for! Just one more piece of evidence (as if we needed it) that Obama and other Democrat politicians would not think twice in selling out America to get elected.
Why tap the reserves?
Surely not to ameliorate the monopoly price problem? After all, the dems keep saying more oil won’t reduce price.
So, why do it then?
Why don’t they just release a couple billion barrels from the Strategic Algae Reserve?
Yes, the oil reserve was put there to help Democrats when they need it to camouflage all the damage they are doing to the American consumer. That’s Nancy’s fascist anit-American mentality. Mendacity defines her very essence.
...Strategic Algae Reserve...
Ya - good one. Made me laugh.
tks
Nancy is just suckingup to Obama again. If Obama said crap Nancy would say where and how high and ask if he wanted to watch.
She and Steny Hoyer are in a contest to see who can get farther up Obama’s butt.
how about we just ignore these idiots and drill and do what it takes to get our nation back.
Term limits needed. 1 term for Senators and 3 for Congress. Because if not they will consistently and continually, if given the chance, make bad decisions that inevitably harms America, while working to make themselves look good short term. They will refuse to make the difficult decisions that are needed.
That’s how we got into these costly wars, pork barrel spending, the massive debt, how they spent the Social Security Trust, how we got Medicare Part D, and the health care mandate.
When the American People Scream to produce our OWN. It's unthinkable, unworkable, and illegal.
It kills the Dems to have all that oil just sitting there , when you can sell it off a piss the money away on some of those GREAT GREEN JOBS
Tapping the reserve doesn’t have a lasting effect on prices, it only has an impact on our reserves.
Better still let’s put Pelosi and her RAT cohorts out to pasture.
Good point!!! A 30 million barrel disbursement of crude oil from the SPR would be insignificant given that the global demand for crude oil is about 90 million barrels per day. It would only represnt 1/3 of 1 day's global crude oil demand. Thats not going to lower oil prices at all.
By the way, because of Iran most of the world is laying in an supply of crude oil at this time...instead of disbursing oil from their strategic reserves. That oughta' tell you something.
Re: Yes Good Idea,empty the reserve and make us even more dependant!
Exactly!!!
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