US and England agree to release oil reserves

[AirFlacco]

As a caveat, there's a lot of confusion out there about this meeting. Officials say a decision hasn't been made while Reuters, The Hill.com and the National Review
disagree.

So it turns out a decision has been made but not the timing. If reserves are released it may not be today or
tomorrow,but over the summer just in time to bail
OBY out of trouble before the election.

None of this makes sense.


Just one week after OBYs energy czar,
CHU, said prices will never come down and we should pay the same as Europeans, and after the Times and Wash Post polls showed OBY at 41%, the US and England agreed to release their oil reserves to bring prices down.

Rising gas prices threaten to choke OBYs so called recovery. I guess by bringing England into it, they lower their prices too in order to keep it congruent, I suppose.

Afterall, we're almost even with their prices with gas as hi as $6 in some states and $5 in most.

Even though Galen discounts the above polls, OBY sure believes them and this action is a result.

The people have spoken.

US reserves have been released about a dozen times since 1980. OBY did it last year and prices came down but he also allowed more off shore drilling, the same as Bush when he brought prices down from $4.

This time, there's no extra drilling as OBY says there's enough already. Without the extra drilling, don't expect prices to come down that fast this time.

Also, with the great demand coming from China and India, the reserves may not bring prices down like before or at least not as fast because the demand is so much greater.

OBY also killed the Keystone Pipeline from Canada that would have brought a trillion gallons of oil here and create over 20,000 jobs but OBY nixed it after the Congress voted on it.

By agreeing to stop the pipeline, OBY catered to a small group of environmental whackos to hurt the country. There's over a trillion barrels of shale oil in Colorado and out west plus oil has been discovered in North Dakota but is not allowed to be extracted, There's trillions more in Alaska that can't be drilled.

He also catered to Warren Buffett who didn't want the pipeline because he wanted the oil shipped by rail. The pipeline would have cost just a fraction of shipping by rail but Buffett owns the rail road that would ship it and would have made billions from it.

I thought OBY hated the rich but not when they donate millions to get you elected.

OBY also tried to take credit saying more oil is being pumped on federal land than ever before. True, but that is the result from previous administrations getting all that started so OBY is now trying to take the credit as most Americans don't know who started it.



http://www.huffingtonpost.com/2012/0...n_1347816.html

[AirFlacco]

Speaking of OBY who was in town yesterday speaking to college students, he taught them another erroneous lesson. This follows the one last week when he said his new CAFE controls will save the average American family over $8,200 in gas pr yr.

Americans only spend a fraction of that amount pr yr unless they're NASCAR drivers-lol

So yesterday, in yet another huge gaffe and talking about energy he said a predecessor of his, President Rutherford B. Hayes said the telephone is a great invention but I wouldn't want to use one. Everyone laughed.

Wrong.

Hayes never said that and in fact he was the first President to have a phone in the Oval Office.

OBY continues to corrupt the minds of students.

[jonboy79]

Perhaps he was considering Heating Oil, which can easily be trasnposed with diesel fuel, but still.... I drive A LOT, and MAY spend $8k this year on gas, but only because I drive an inefficient car, far too far to get to my place of work. If the economy were better, I would likely either have another job or a more efficient car.

[Mista T]

This is pure bullshit. Dumping another 30 million barrels of crude into the system will not lower gas prices a penny. The SPR provides a psychological tool for US citizens feeling confident if oil imports are to be drastically curtailed by war, embargo, or natural disaster. It would take massive amounts of SPR oil to affect supplies to the extent that prices would drop; then the fear of an empty SPR would likely drive prices higher than before. The SPR holds 740 million barrels after last Summer's joke of a release of 30 million barrels -- which also did absolutely nothing to mitigate rapidly rising gas prices.

We have an unqualified community organizer trying to make grown-up decisions, and again failing. Would someone please show this fucking moron in the White House the exit door before he totally dismantles the economy?

[AirFlacco]

Great post T. Yea, Rush was saying that with the amount of reserves you mentioned above and the amount we consume, the supply would last 30 days.

Like I posted above, more drilling is needed.


OBY must have read my OP about more drilling because he's traveling to
New Mexico to examine oil on federal lands and that is after he mocked
conservatives just last week who always say drill, drill, drill. That's all they say.

Now it looks like he wants to drill. Typical liberal hypocrite.


Don't be such a stranger T. Characters are welcomed-lol.


http://www.whitehousedossier.com/201...sit-oil-field/

[NCRAVEN]

What I like most about this move, is BHO is out there mocking the Republican plan of drilling to increase production to lower cost, but says more drilling and more oil won't lower gas prices.. THAN WHY THE F ARE YOU RELEASING STRATEGIC RESERVES TO LOWER THE COST?

Nope, increased supply won't lower the cost of a product, Moron...

[Galen Sevinne]

Okay...so supporting healthcare hasn't killed his Presidency, supporting women's health hasn't killed his presidency, doesn't look likethe economy will kill his Presidency...so what the next line the low-information voters will be fed?

Oh yeah...gas prices! Although most understand gas prices are set by the world markets not the POTUS (snicker) there are plenty of L.I.V.s out there to get riled.

http://www.nytimes.com/imagepages/20...tml?ref=sunday

Even conservative think tank CATO understands what you numbnuts don't:


Why have gasoline prices increased since the start of the year? The simplest explanation is that the price of crude oil has increased. Specifically, the spot price for Brent (North Sea) crude has increased $16 a barrel since January. Given that there are 42 gallons to a barrel, that works out to a 38 cent increase in the price of a gallon of oil. Spot prices for gasoline trade in New York have increased about 41 cents per gallon over the same time frame. So there you go.


http://www.cato.org/publications/com...have-increased

Keep staying informed though L.I.V.s! The Palins need another reality t.v. stint!

Actually I think you were making a better argument about your god-liberties with birth control than you ultimately will make with oil.

[NCRAVEN]

What I like most about this move, is BHO is out there mocking the Republican plan of drilling to increase production to lower cost, but says more drilling and more oil won't lower gas prices.. THAN WHY THE F ARE YOU RELEASING STRATEGIC RESERVES TO LOWER THE COST?

Nope, increased supply won't lower the cost of a product, Moron...

Galen, could you answer this?

[4G63]

Okay...so supporting healthcare hasn't killed his Presidency

Not yet.

As Health Care Law’s Trial Approaches, Two-Thirds Say Ditch Individual Mandate

Even conservative think tank CATO understands what you numbnuts don't:

Just remember you've used CATO to bolster your specious argument.

[Galen Sevinne]

Not yet.

Except it won't get ditched and over time, it will be well-received because more and more people will benefit from it.

Just remember you've used CATO to bolster your specious argument.

I don't agree with CATO most of time because of their libertarian slant on most everything. CATO is consistent though and they don't pander like other conservative think tanks such as Heritage will so I do read their stuff often.

What is happening here lately and I am not sure if it is a product of the ridiculous GOP primary or the Tea Party stuff or the Palin-effect but more and more conservative thinkers...the intelligent conservative thinkers like George Will, CATO etc...are coming out more and more condemning the outrageoususness of some conservative thought that has found its way into the mainstream. The idea that Obama is driving the price of oil up is about as low-information as you can get and conservatives that want their name to be respected beyond 2012 will dispute it. Just like many are disputing the birth control issue and even Romney has to agree the economy is improving when pressed.

Obama will take a hit in the polls due to gas prices but I am sure he is glad it is happening right now and not 7 months from now. Gas prices right now will have no bearing on November except for the LIVs who won't vote for Obama anyway.

[AirFlacco]

LOL @ GALEN - Even if that's true about the polls, we'll

take anything we can get if that's all it takes to get rid of that commie and $8-$9 pr gal will sink him even further. He doesn't care that the people are hurting. Some families are choosing between gas and food.
My friend Nick who owns a restaurant said employees are asking him for raises just so they can get to work.

Raising taxes is the main thing that sank H. Bush after he said read my lips, no new taxes. The conservatives rebelled vs him and he still won the popular vote vs
Clinton but not the electoral college.

And OBAMA CARE will sink him as well if the SC rules vs and the WH is worried sick that it will. 67% of the country didn't want it and liberals will crucify him for ramming it down their throats illegally.

Two federal courts said it's unconstitutional and it was
a big defeat for OBY just for the SC to hear the case.

Bad omen.

[NCRAVEN]

LOL @ GALEN - Even if that's true about the polls, we'll take anything we can get if that's all it takes to get rid of that commie and $8-$9 pr gal will sink him even further. He doesn't care.

Raising taxes is the main thing that sank H. Bush after he said read my lips, no new taxes. The conservatives rebelled vs him and he still won the popular vote vs
Clinton but not the electoral college.

And OBAMA CARE will sink him as well if the SC rules vs and the WH is worried sick that it will. 67% of the country didn't want it.

That's why I honestly think he'd prefer that SCOTUS repeal it.