Obama Decides to Tap Strategic Oil Reserves, Will Release 30 Million Barrels
- Posted on June 23, 2011 at 9:45am by
Jonathon M. Seidl
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WASHINGTON (AP) — Wary of a new surge in gas prices, the Obama administration has decided to release 30 million barrels of oil from the country’s emergency reserve as part of a broader international response to lost oil supplies caused by turmoil in the Middle East and North Africa, particularly Libya.
The release from the U.S. Strategic Petroleum Reserve will amount to half of a 60 million barrel international infusion of oil planned for the world market over the next month.
“We are taking this action in response to the ongoing loss of crude oil due to supply disruptions in Libya and other countries and their impact on the global economic recovery,” Energy Secretary Steven Chu said Thursday.
The administration said the uprising in Libya has resulted in a loss of about 1.5 million barrels of oil a day. The release comes as the United States approaches a period of high energy use in July and August.
High oil prices and the resulting increase in the cost of gasoline have contributed to an economic slowdown and have put increased political pressure on President Barack Obama.
The government is wary of dipping into the petroleum reserve, releasing oil from it only in extreme cases, such as hurricanes, that affect oil supplies. The reserves – 727 million barrels stored in salt caverns along the Texas and Louisiana coasts – were created in response to the Arab oil embargo in the 1970s and last tapped in 2008 after hurricanes Gustav and Ike hit.
Oil prices dropped Thursday after Federal Reserve Chairman Ben Bernanke warned that the U.S. economy was recovering more slowly than expected and after the International Energy Agency announced the release of 60 million barrels of oil.
Retail gasoline prices in the U.S. dropped for the 20th consecutive day to $3.61 per gallon.
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Comments (269)
Rickfromillinois
Posted on June 23, 2011 at 10:18amThis used to be called the “war reserve” whose intended use was in case oil supplies are cut off during a time of war, not a feeble attempt to control gas prices. If you want to cut the cost of gasoline the answer is simple. The oil companies get 2 cents of profits from each gallon of gas but the Federal government gets 66 cents in taxes. So if you want to drive the prices down, cut gas taxes. Better yet, if you want a long time answer, promote domestic drilling. Make it a requirement that if you want to drill on Federal land you have to sell the oil in the United States instead of the world market. With the improvements of oil extraction especially from shale, the United States now has a larger oil reserve then any other country in the world. If we would utilize natural gas and coal more we would be energy independent for the next 150 years. Let’s go that route.
Report Post »jkendal
Posted on June 23, 2011 at 11:18amRick from Illinois is SPOT ON. If the regime were TRULY concerned about the price of gasoline, they’d be letting us drill for more of our own oil. This is strictly for political purposes. And tapping into our ‘rainy day reserves’ for strictly political purposes is reprehensible!
Report Post »RN MOM
Posted on June 23, 2011 at 1:02pmSpot on. I like your post.
Report Post »Full Throttle
Posted on June 23, 2011 at 3:30pmBoy, you said it. Such a simple answer, isn’t it? Yet with this administration it will NEVER be done. And we all know why. I’m so worried for my country.
Report Post »South Philly Boy
Posted on June 23, 2011 at 10:17amWill see how far his bounce goes.
Report Post »rbrowder
Posted on June 23, 2011 at 10:13amSo, I have a question? Why Now? Why not when Gas was almost $4 a gallon, It’s gone down almost 50 Cents where I live. Do they know something we don’t?
Report Post »deathorliberty
Posted on June 23, 2011 at 10:13amMaybe today is not the best day for me to go forward with getting the loan for that used AWD Denali, huh?
Report Post »2010GOP
Posted on June 23, 2011 at 10:09amDribbling out a bit of relief to us before “energy prices will necessarily increase under my administration” or whatever he said… this is a bone for the 4th of July holiday and for a few votes…. he thinks will make the difference… but just as this move will not make any difference in his economic policy, those few votes will not make the difference as well… take our country back to its founding, not another form of government that is known to be a disaster… history predicts the future…
Report Post »boca_chica
Posted on June 23, 2011 at 10:09amThis is part of the vast left wing conspirecy. Some body Told him to do this-we need to find out who is jerking the potus strings.(like was done in 1978).
Report Post »JohnBirch
Posted on June 23, 2011 at 10:07amThis is a “smoke & mirrors” move while he continues to dismantle the US behind the scenes.
Report Post »What an incredible enemy occupying our highest office.
TheLeftMadeMeRight
Posted on June 23, 2011 at 10:04amThe US consumes 18,690,000 barrels of oil per day. 60B barrels is 3.2 days worth.
Report Post »Just another political stunt.
1USPatriot
Posted on June 23, 2011 at 3:07pmYea, it worked didnt’ it! The LIBERAL — CAMPAIGNING — MEDIA — COMPLEX is even giving him credit for DROPPING PRICES?! W.T.F. ? What did he do on JUNE 15th? He should also get some sort of credit for the $119 to $114 drop too!
OIL PRICE WAS FALLING ANYWAY, BUT WITH THIS MOVE, HE CAN TAKE ALL THE CREDIT!
I’m in the process of re-programming my EASY button, with a picture of ‘O’ on it with his own words, “He’s a jackass” playing when pressed.
Report Post »cntrlfrk
Posted on June 23, 2011 at 10:03amI would like to hear Obama explain this.
If more oil on the market will bring prices down, then why aren’t we drilling more???
.
Report Post »mrsmileyface
Posted on June 23, 2011 at 1:10pmAmen brotha.
Report Post »Full Throttle
Posted on June 23, 2011 at 3:19pmBecause the wacko environmentalists, which are part of his crackpot base, won’t allow it. So we all suffer because of pseudo-environmentalism.
Report Post »mattintexas
Posted on June 23, 2011 at 10:02amThe strategic oil reserves are for shortages and for our military. If cousin pookie was really concerned about the amount of oil on the global market he would approve some more permits for drilling so that America could be the world leader in oil sales.
Report Post »theprofessor1031
Posted on June 23, 2011 at 10:01amIf he truly cared about this country, he would have followed that up by saying, “and effective immediately, we will open up all drilling in the U.S. and in the gulf to replenish those reserves, and move toward energy independence.”
Report Post »Beverly Barnum
Posted on June 23, 2011 at 10:00amWhere does the madness stop? Emergency means just that and this disruption to the supply was entirely predictable. We need to drill, create jobs, keep our dollars at home and become independent. This has to be intentional because even an incompentent would not be this anti-American. Where are the heros? Where are people of principle? What can I do besides write?
Report Post »2010GOP
Posted on June 23, 2011 at 9:58amHe is again bowing to the international world agencies, IEA, just as he does to the UN, World Bank, IMF, and you can add to the list as you wish… he is again jeopardizing the national security of this Nation. If he did this while at the same time saying he is approving for immediately drilling of oil, gas in the US for say 1,000 sites, or opening up the Gulf or Anwar, etc., then it would be a statement of strength. But to just release without regard to how to afford replenishment of the used resource is purely ignorant… and thereby again shows this admin has a far different agenda for this Nation… Got enough change/hope yet?? Have you notice all that he does is timed to expire or end near election time…. WATCH WHAT HE TRIES TO DO WITH THE DEBT LIMIT…. this is about to get ugly no matter what prez thinks…
Report Post »aerorepairo
Posted on June 23, 2011 at 9:57amI think Obama tactically intends to drain all of the oil reserves to further push his agenda on “Green Energy.” Unfortunately that mean his Nissan Leaf and Chevy Volt will not have enough power to charge the battery or fuel the sorry excuse of a vehicle.
Report Post »NJTMATO
Posted on June 23, 2011 at 10:05amAgreed
Report Post »lynnissmart
Posted on June 23, 2011 at 9:57amHe knows the word DRILL, but he’d rather tap the reserves to further bring our country to its knees….what’s next, what’s next, what’s next…..I‘ll tell you what’s next, bad things will happen to evil people!
Report Post »Jamie
Posted on June 23, 2011 at 9:55amWhat is in the other hand?
Report Post »SpankDaMonkey
Posted on June 23, 2011 at 9:54am.
Report Post »How much longer before someone does something to stop this madness? The Obama agenda of Giving away America MUST STOP!!! We can’t drill for it, but this Mental Midget just opens the tap and gives it away. If I had a child as stupid as Obama I would have it spayed/neutered……..
C. Schwehr
Posted on June 23, 2011 at 10:21amDon’t worry, we‘ll be Brazil’s BEST CUSTOMER for replacing that 60 million barrels at an even HIGHER price when we throw him out of office! At least that’s the plan!
Report Post »I.Gaspar
Posted on June 23, 2011 at 9:54amwhat a tool.
Report Post »leonardoverse
Posted on June 23, 2011 at 9:53amIt’s NOT a mistake. He’s doing it ON PURPOSE to deplete the reserves.
Report Post »NJTMATO
Posted on June 23, 2011 at 9:57amYou are completely conrrect Leonardoverse!!! On purpose, that‘s the way he’s done EVERYTHING!! All under cover, all with spookie dude backing, all with the media to back him up. Remember, always watch the other hand, pay attention, hope for the best and prepare for the worst!!! Tell everyone you know because this bozo is working hard to make the SHTF so that he can create fear within the ranks of true Americans.
Report Post »OUTRIDER WRITER
Posted on June 23, 2011 at 10:23am@Leronardo
True.
Do not underestimate this guy.
He is positioning the common people of this country into complete and total dependency on the government.
People will beg their government when they get to the point of having no fuel, no job, no food, no nothing. Even if you life off your land, you might find you no longer own it and/or will be prohibited from planting, grazing, or supplying water to sustain a livelihood. This is already true of the milk industry (do you know that dairy farmers cannot independently sell the milk they get from their cows–not even to their neighbor?).
Enough. Our nation has gotten to the point where there are too many examples of lost freedoms to list…….
Report Post »Julie2010
Posted on June 23, 2011 at 10:27amAbsolutely. Intentional.
When will someone tell this president No???
When??
Report Post »freedoc
Posted on June 23, 2011 at 3:42pmNO doubt about it.
Either purposeful to deplete the reserves, to improve gas prices, or as further pay back to Brazil and other ‘deals’ this imposter has made—–TAKE your pick, its shameless, irresponsible, hideous.
Another brick in the wall.
CAN YOU HEAR THAT? Its the sound of the lifeblood of our country being sucked down the drain.
Report Post »chinsue32
Posted on June 23, 2011 at 9:53amDrawing on the U.S. Strategic Petroleum Reserve = Emergency. Can we start drilling for our own supply now?
Report Post »cloudsofwar
Posted on June 23, 2011 at 9:52amthis man is a joke. oil from the reserves for votes. he can feel it slipping away. BO will runin the country in due time.
Report Post »USAMEDIC3008
Posted on June 23, 2011 at 10:08amSorry he is no joke,He is for real.
Report Post »Texas Grasshopper
Posted on June 23, 2011 at 10:19amyes the question is …..why is congress going along with this systimatic destruction of our country ( I am being simplistic ) ..WHY ….WHY ? WHY ?
Report Post »MidWestMom
Posted on June 23, 2011 at 10:39am@ – Texas Grasshopper
the question is …..why is congress going along with this systimatic destruction of our country ( I am being simplistic ) ..WHY ….WHY ? WHY ?
——————————————————————————————————————————-
Doesn‘t matter if they do or don’t…..he gets his way in the end with “excutive orders” and complete disregard for the Constitution
Report Post »TexasCommonSense
Posted on June 23, 2011 at 10:48amMidWestMom, congress is becoming more and more irrelevant.
Report Post »RepubliCorp
Posted on June 23, 2011 at 10:51amWhat he is doing is called “******* in the wind” who is he fooling?
Report Post »desperate?
Anonymous T. Irrelevant
Posted on June 23, 2011 at 11:08amWell, I left a couple of posts yersterday about contacting your Congressional Rep. and Speaker Boehner to stop Obama from creating laws using Executive order. Has anyone contacted their Rep?
Report Post »Creating laws from Executive Order is like a Governor or a State policeman making up a law. It’s just not up to the Executive branch to create laws, that is the job of the Legislative branch.
TexasCommonSense
Posted on June 23, 2011 at 11:25amAnonymous T. Irrelevant, this is part of their fundamental transformation of the United States. He told people he would. When someone shows you who they are, believe them. I doubt many clueless voters have learned that yet.
Report Post »Anonymous T. Irrelevant
Posted on June 23, 2011 at 11:27amHere’s the link to find your Rep. and contact them. Also, you do not have to live in the Speaker’s district to contact him.
http://www.house.gov/representatives/
Report Post »Anonymous T. Irrelevant
Posted on June 23, 2011 at 11:45amHi TexasCommonSense
Report Post »I am just trying to get people off their seat and get more involved. Leaving a comment on a blog does very little, but make the user feel better. Take the next step and get involved with your Representative.
There are enough people on here, with common sense and good ideas, to at least cause their Representative, and the Speaker, to worry.
TexasCommonSense
Posted on June 23, 2011 at 12:22pmAnonymous T. Irrelevant, posts here also strengthen your resolve, and that of those with you agree. Maybe we can even change a few minds. Thanks for the link.
Report Post »hud
Posted on June 24, 2011 at 8:30amIt’s not just o, it’s the entire dumbocrap party
Report Post »hud
Posted on June 24, 2011 at 8:32amTexas——–Speaking what’s on my mind will get me an interview with the FBI
Report Post »NHABE64
Posted on June 23, 2011 at 9:52amEvery move that Obama makes is striclty for one reason VOTES! Instead of doing something really good for the country like drilling for oil, he pulls this little poltical move like we are supposed to be thankful to his highness for that. What a crock of crap. Care for the lives of men and women in uniform ? No way. Here he is again pulling out a strategic number of troops for the 2012 ELECTION. He is disgusting! Nobody and I mean NOBODY can really give what our mission is in Afghanistan. What exactly are our troops dying for ? Its all about corruption and politics. Bring our troops home now Obama, I mean ALL of them. Who gives a damn about Afghanistan ? I care about America and Afghanistan is NOT our friend nor will they ever be. If Obama cares about them so much let HIM go there, He is a muslim after all. Enough death, bring our troops home NOW Obama you wretched human being. Enough is enough.
Report Post »Vietnam Veteran
Susystin
Posted on June 23, 2011 at 10:31amNo, Obama doesn’t really care about the votes. All he cares about is that he carries out the “orders” from the “gang” that put him in office – you know, the destruction of America and we will have global rule, “gang”. Some of your supposedly prestigous people of our country are in on it.
Report Post »Ghandi was a Republican
Posted on June 23, 2011 at 9:51amBig mistake.. Unless you want to create even more volatility.. The big question is what are obama’s intentions for his lame duck session after losing and before he is outed from the office? Hint: C-aos
Report Post »C. Schwehr
Posted on June 23, 2011 at 10:16am“Unless you want MORE volatility”…..which is EXACTLY what he wants. Soros can’t profit off of a U.S. collapse unless the collapse happens! Barry is there to make sure it happens!
Report Post »just the facts
Posted on June 23, 2011 at 11:04amAgreed. This so called president is doing everything to set us up for economic colaspe and once it does happen, make it extreamly difficult if not impossible to bounce back.
Whoever the next president is, he or she will need to make very unpopular, difficult, tough love decisions which I fear the country will not want to agree with.
Report Post »MIBUGNU2
Posted on June 23, 2011 at 1:25pmWouldn’t lifting some EPA restrictions and begain the process
Report Post »of drilling for our own resources. be a better Option ??
I don’t see the emergency, to tap into our Reserves at this point,
unless he is worried about his Poll Nunbers..Really SUCKS !!!!!
The only time he has been Transparent, we can all see he
Despertely working on his re-election at all cost..GAWD !!!!!
NOBALONEY
Posted on June 23, 2011 at 9:51amThis will do nothing. Why don’t you get involved in the talks with congressional leadership about the 14.4 trillion dollar deficit!? We need serious budget cuts, and no more fancy speeches!
Report Post »Susystin
Posted on June 23, 2011 at 10:28amBecause they are ALL in on this destruction/takeover and, as you have seen in the past, they do not listen. Now if you attend town hall meetings (that they rarely hold anymore), and you speak out, they have you ushered out. Doesn’t matter which party. I am afraid they were all in on it during the Bush years also, thus the never speaking out against the progressives.
Report Post »USAMEDIC3008
Posted on June 23, 2011 at 10:40amIn OBO,s speach last night he said “It was time to Fokuss” I say It’s
Report Post »time to fokhim.
Robert Hawk
Posted on June 23, 2011 at 1:29pmit was not intended to do anything, its a political move so he can say with some degree of honesty “I released oil from our reserves during the 2011 oil price crisis” Its simply to give that political statement credibility, something which he does not posses much of.
You do the math
Report Post »1) Department of Energy states the US used 378 million gallons of gasoline per day in 2009
2) The standard for converting gallons to barrels is 42 US gallons
3) The sum of that equation indicates that the USA uses 9.214,286 Barrels of gasoline per day
Now the President just released 30 million barrels of Crude which must be refined into gasoline
a) Each barrel of Crude is able to produce 19.5 gallons of gasoline
b) 30m barrels X 19.5 gallons per bbl = 585,000,000 gallons of gasoline
c) divide the 585 m gallons of gas by the 2009 daily use of 378 m per day and that equates into 1.548 days of gasoline. Now that’s not enough to even become a blip on the radar of fuel use in the United States. However it would be enough to support another country which does not have the fuel usage of the United States. I would look for a country that needs this fuel source for the next 30 – 60 days. It will be someone or some US state that Obama needs in his back pocket.
constitutionaldirective
Posted on June 23, 2011 at 9:47amHOLYSWEETMOTHEROFMOSES!! Dipping into the reserves to gave political favor from the ignorant??
Report Post »Those reserves are for SHTF.. NOT for his political gamesmanship!!
TexasCommonSense
Posted on June 23, 2011 at 9:51amconstitutionaldirective, you said it. This is stupid and will have no impact at all. We need to save this reserve for when things get worse, and they certainly will.
Report Post »chirodoc007
Posted on June 23, 2011 at 9:55amGREAT! Now we have an extra 3 days of oil available for general use.
This is the brilliant man to ever hold the title of POTUS.
Report Post »poverty.sucks
Posted on June 23, 2011 at 9:57amProceeds go to who?
Report Post »MidWestMom
Posted on June 23, 2011 at 9:57amHmmmm. Seems like a desperate attempt to get those approval rating numbers up.
Report Post »bertr
Posted on June 23, 2011 at 9:58amif prices continue to go up after its emptied, which will happen long before the election, it should only hurt him more. its intresting, doesnt make sense unless theres something else we dont know about going on as always
Report Post »Want our country back
Posted on June 23, 2011 at 10:03am@CONSTITUTIONALDIRECTIVE – right you are
“OBAMA DECIDES TO TAP STRATEGIC OIL RESERVES, WILL RELEASE 60 MILLION BARRELS”
This is “FOR EMERGENCYIES”, not to relieve the inconvenience of these high gasoline prices to consumers. This is being done intentionally so that we will be in a vulnerable position if anything significant happens, which again I believe they are setting up. Instead of using up ‘THE EMERENCY” reserves wouldn’t it be easier to open up some of our own reserves all over this great USA.
Wake up America – this doesn’t solve our problem – what happens in 2 months when we have depleted the 60 million barrels.
Report Post »USAMEDIC3008
Posted on June 23, 2011 at 10:05amJust one more NAIL
Report Post »LOOKING_BOTH_WAYS
Posted on June 23, 2011 at 10:08amso in July i will be paying .. $ 3.85 instead of $ 3.89 …. gollly geee… that will help
Report Post »KwikKarl
Posted on June 23, 2011 at 10:08amExactly, I have been questioning whats been going on in the background as gas prices have been falling for a week. This is just insane and suicidal all to gain public opinion…. This guy needs impeached…
Report Post »JohnGalt
Posted on June 23, 2011 at 10:08am@constitutionaldirective
That’s exactly right! there is no reason for this, unless they want to make sure we have no back up if and when the break down happens.
Report Post »DTOM_Jericho (Creator vindicator)
Posted on June 23, 2011 at 10:10amGotta get rid of the reserves and set us up for a “crisis”.
Report Post »tobywil2
Posted on June 23, 2011 at 10:11amMID-EAST PEACE & THE PRICE OF OIL:
“MID-EAST PEACE & THE PRICE OF OIL” This article presents a plan to solve our energy problems. It was written in Jan. 2009, but it is as relevant today as it was when it was written. Click on the link below to read the article.
Report Post »Please feel free to forward the link or the article to your Friends. http://commonsense21c.com/files/CE-1-5-09.pdf
The_Almighty_Creestof
Posted on June 23, 2011 at 10:16amStart drilling you sorry ass bastard!
Report Post »Anonymous T. Irrelevant
Posted on June 23, 2011 at 10:18amScrew our future for political gain. Does this man have NO moral compunction for our children and THEIR future? This ***** is the most clueless person, much less president, the world has ever seen. He is the classic socialist-progressive, hedonistic, self-centered, lying SOB.
Report Post »Marci
Posted on June 23, 2011 at 10:23am…..”as part of a broader international effort to pump more 60 million barrels onto the world market over the next month.”
How about NOT restricting us from our own resources while allowing Brazil to drill in our waters and SELL IT BACK TO US? Liar in chief.
Report Post »Snowleopard {gallery of cat folks}
Posted on June 23, 2011 at 10:23amIt will not make much difference at all; indeed this is just for political points.
Report Post »knockered
Posted on June 23, 2011 at 10:24amIt’s about time we call a spade a spade and impeach him before he does any further damage. Come on congress get with it…
Report Post »NOBALONEY
Posted on June 23, 2011 at 10:26amObama Oil!!
Report Post »nptden
Posted on June 23, 2011 at 10:28amAnother example of Obama’s drive to weaken our country. With all the wheeling and dealing going on, there must be ‘impeachable’ offenses that can be brought up.
Report Post »John 3:16
Posted on June 23, 2011 at 10:31amWhat’s up? Dumbo need more cash for his re-election war chest? This is only about trying to garner votes. Give up the goast Dumbo, you are a dead man walking to defeat in 2012, you big loser.
Report Post »SpankDaMonkey
Posted on June 23, 2011 at 10:35am.
I said this yesterday but it’s worth repeating:
Obama know’s that if he allows America to die tomorrow, the world that we live in will never be able to replace us in a thousand years. And the hole America that would leave behind will be felt by the world
for the rest of time.
Our children & grandchildren will never know the country we grew up in. Unless we STAND UP!
Report Post »YEAHYOURIGHT
Posted on June 23, 2011 at 10:35amHe better not go through it too fast. He needs to save some for his October Surprise next year!
Report Post »CatB
Posted on June 23, 2011 at 10:37amObama won’t be happy until we have NOTHING LEFT .. no money .. no oil … no FUTURE. This from the man who has cost us billions of gallons of DOMESTIC OIL! A Hole.
TEA!
2012 the end of an ERROR!
Report Post »CatB
Posted on June 23, 2011 at 10:38amThe_Almighty_Creestof
Posted on June 23, 2011 at 10:16am
Start drilling you sorry ass bastard!
_________________________________________
AMEN!
TEA!
Report Post »Truth Wins Every Time
Posted on June 23, 2011 at 10:38amHow much of it will obama send to his buddies overseas?
Report Post »TomFerrari
Posted on June 23, 2011 at 10:44amself-serving moron! now, the arabs have tricked obama into depleting our reserves.
DRILL BABY, DRILL! would fix the real problem. But, his eco-moron left won’t let him drill.
In his speech last night, he became a small ‘man’ full of empty platitudes. I had never seen him so small – the fire is no longer ib his belly. This was his least charismatic speech I have seen yet. His base has turned on him, his numbers are plummeting. He is shrinking.
Depleting our reserves leaves us at the mercy of the world market, with no place to turn in an actual emergency. Drilling and flooding the market by exploiting our own natural resources would cause a glut in the world supply, which would have a downward pressure on prices. Dumping our strategic reserves is a bandaid – but worse – once depleted, we must replenish it, or remain vulnerable. In order to replenish it, we either have to drill more, or buy more. Since we are not drilling more, we must buy more. This means we are merely kicking the can down the road – something obummer is good at by now – it is another ‘bailout’ – cash for clunkers only stole sales from the future – this is OIL FOR THE SPOILED – it will cause us to buy more in the future to replenish, causing a SHORTAGE in the future.
STOOPID move, obama!
Trading a stratigic strength in for a short term political gain, while creating a long-term issue and a long term WEAKNESS.
Is it January 2013 yet?
Report Post »docgreen
Posted on June 23, 2011 at 10:45am@Constitutional
Report Post »Your correct on this one, whats even worse about this. The Middle East is like Nitro Gliceron right now. If we use up our reserves because he wants to get re-elected, were screwed when the Middle East Blows up! This is the worse mistake he’s ever done to US! With whats happening, my belief is that this POTUS hates the US, and wants to bring it to its knees! Didn‘t he just say he couldn’t do anything with oil prices? Now he wants to open the reserves? So when the middle east blows up, because the muslims hate the US and ISRAEL, where are we going to get oil from? Were Screwed as a Country, I didn’t think this could get any worse, but it does! So, why are they releasing it now? Prices where I live have been dorpping over the last couple of weeks! So he’s doing it just to get re-elected? What does he think this is going to jump start the country? SH_t if this POTUS had any brains he be dangerous! So what happens when we use all of our reserves? Where we going to get our oil from? Venezula? Russia? China? Middle East? Canada? Where the H_ll will we get it from? We won’t!…. Yep, lets use our reserves, and Spread the Wealth! This is like living with Satan himself! This President hates the US and everything we stand for! So when the muslims cut us of from oil, where do we get it from then? I guess we go Green and prices rise even more! Its like playing Russian Roulette, with only one chamber open! All the rest have Bullets! We, Lose!…
drattastic
Posted on June 23, 2011 at 10:49amA political drop in the bucket and a joke. This IDIOT and his MORONIC administration are flailing around grasping at straws .HIS poll numbers sink as HIS policies fail and HIS media‘s spin isn’t as effective as it once was ,only the oblivious and the koolaid drinkers still buy into the HIS lies.
Report Post »hauschild
Posted on June 23, 2011 at 10:49amThis POTUS is a complete idiot – bereft of common sense and common decency.
How in the world did an idiot like this snowball 60 million people? Isn‘t it safe to assume that we’ve got at least 60 million people in this country with extremely poor judgment? Isn’t that a frightening notion? Because if that’s the case, that’s something that simply cannot be changed overnight – it’s done.
Report Post »TomFerrari
Posted on June 23, 2011 at 10:51amInstead of working harder (cutting taxes), or spending less (cutting the budget), obama is now eating our emergecy food supply(depleting our strategic oil reserves). Is this the dumbest move you have heard of, or what???
No, he is not the first, but that doesn’t make it any less naive!
No more band-aids, Obama!
We demand SOLUTIONS, not SLOGANS! ™
November 2012
Report Post »docgreen
Posted on June 23, 2011 at 10:52amDid anyone else get this?
“The release from the U.S. Strategic Petroleum Reserve will amount to half of a 60 million barrel international infusion of oil planned for the world market over the next month.”
They state its an Intenational infusion, planned or the World Market? Am I wrong thinking it doesn’t state its going to the US? To me it read like its going to the World Market to bring down prices? WTF?
Report Post »joe3
Posted on June 23, 2011 at 10:53amobamas illegal war in libya and obamas western created revolutions in all the mid east oil producing countries will completely shut off all oil production in the mid east and north africa. the oil robber barons who have their hands so far up this sock puppets ass do mean to shut off all oil supplies from the mid east to america. they are as we speak rushing to fill that void with our nations own massive sources of oil in alaska, the gulf and the bakken region. they want the price of a gallon to be $7, that is why we are paying for our own demise by invading and overthrowing all these countries and replacing the governments with islamo fascist muslim brotherhood led governments like in egypt. Obama has no choice, he is told what to do. our country is run by oligarchs, the oligarchs who own big oil, the world bank, the IMF, and the federal reserve. they are scared that the american public will revolt so they are lowering the price for a gallon of gas for the summer. Obama is forced into this and thus is a traitor, not a leader or president. 30 million barrels will last the USA about 2 days. this is a show. wake up america, we have been overthrown by the old money oligarchy. it is time to rise up and defeat the worlds corrupt banking power structure that kills our real presidents (kennedy) who stand up to them. if the republican runner in 2012 is mitt, t- paw, huntsman, or rick perry this decline of freedom and america will speed up, as they are also future sock puppets. ron pau
Report Post »teamarcheson
Posted on June 23, 2011 at 10:55amOBAMA LEADS AMERICA INTO SURRENDER AND DISTRUCTION
He surrenders to the Taliban in Afghanistan and the Moslem Brotherhood in Egypt. He wages war in Libya to depose Gahdafi so he can surrender Libya to the terrorists. Now he will sell off our oil reserve while maintaining moratoriums on domestic production and refining. White will now be America’s new colors, the color of surrender and retreat. Even his wire abandoned him to fly to Africa of all places.
TEA anyone?
Report Post »DieHard
Posted on June 23, 2011 at 11:10am@Anonymous T. Irrelevant
“Posted on June 23, 2011 at 10:18am
Screw our future for political gain. Does this man have NO moral compunction for our children and THEIR future? This ***** is the most clueless person, much less president, the world has ever seen. He is the classic socialist-progressive, hedonistic, self-centered, lying SOB.”
I know! How dare Obozo waste 30 million barrels of our 700 million barrel reserve and completely ruin America.
Report Post »LibertariansUnite
Posted on June 23, 2011 at 11:16amGas prices are a direct reflection of the devaluation of the dollar.
Supply is a factor, but not the leading factor in gas prices.
Report Post »Okie from Muskogee
Posted on June 23, 2011 at 11:18amThis will do nothing but make oil go up farther in the long run.
Report Post »Dustyluv
Posted on June 23, 2011 at 11:24amThe POTUS needs to be arrested for treason.
Report Post »Sound The Trumpet In Zion
Posted on June 23, 2011 at 11:24am@constitutionaldirective
Report Post »I agree fully with you and TexasCommonSense. The only thing that obama could do to help lower gas prices is to vacate the White House so that we can get someone in there that knows what they are doing and is willing to work towards freeing up drilling for the oil that we have available to get. The good thing is that next year we will be forcing obama to vacate the WH and let someone like that move in and start bringing this country towards the prosperity and freedoms that we are suppose to have now.
Sam Brown
Posted on June 23, 2011 at 11:39amFurther weakens the United States Reserve. Matter of time till he has peed it all away.
Report Post »Wyatt's Torch
Posted on June 23, 2011 at 11:56amLets convert some of this reserve oil into tar, add some feathers and give a nice send off for the POTUS and FLOTUS as we run them out on a rail.
Report Post »papapatriot
Posted on June 23, 2011 at 12:37pmMust be an election on the horizon
Report Post »louise
Posted on June 23, 2011 at 12:42pmConstitutionaldirective
Amen
Report Post »Susan Harkins
Posted on June 23, 2011 at 12:45pm30 million barrels is a thimbleful in a global environment.
This is merely ‘posturing’ by Obozo’s administration. As a matter of fact, they suggested that Obozo come out and say that — Obozo didnt even know it would be good for political posturing. Dont read anything into it. Its pure distractive BS.
Report Post »MIBUGNU2
Posted on June 23, 2011 at 1:09pmWouldn’t lifting some EPA restrictions and begain the process
Report Post »of drilling for our own resources. be a better Option ??
I don’t see the emergency, to tap into our Reserves at this point,
unless he is worried about his Poll Nunbers..Really SUCKS !!!!!
banjarmon
Posted on June 23, 2011 at 1:19pmAnother STUPID move by BO! It would be BETTER to DRILL BABY DRILL!!
Report Post »Dont-hate-on-me-2
Posted on June 23, 2011 at 1:49pmWhat an idiot, Why the hell are they (HE) doing that. You want to loweer the price start giving ut permits like its going out of style. Instead you further weaken our country. You Obama are a jacka$$
Report Post »JRook
Posted on June 23, 2011 at 2:26pmGood move, hope it crushes the speculators that are making money for doing nothing productive. Most estimates are that speculators account for $.50 to $.75 of the price at the pump. But don‘t worry I’m sure Goldman Sachs was alerted of the move and changed their oil bets. Also hope it busts the gold bubble and drives people to invest in instruments that will actually stimulate the economy. .
Report Post »Lover of America
Posted on June 23, 2011 at 2:34pmBut don’t you know, Obama listens to NOBODY. Narcissism.
Report Post »boxy
Posted on June 23, 2011 at 3:30pmWhat a horrible POTUS Obama has shown himself to be. You have to think that this is in response to the “shocking” drop in approval ratings for him. This along with him bringing home 10,000 troops home. What a joke and when he collapses our economy and we need that reserve oil that will be the end of us.
Report Post »PATTY HENRY
Posted on June 23, 2011 at 3:44pmDO we even HAVE a CONGRESS??? EVEN????? IS there anyone in DC with some guts??? This guy is a DICTATOR!!! HE does NOT have the RIGHT to mess with OUR…operative word OUR oil supply.
At this rate, can we even make it until Nov. 2012?? Go on SARAH PALIN’S FB PAGE and ask her to RUN. WE must have a WARRIOR…we sure as hell don’t have any in CONGRESS!!!!
WHAT A TRAITOROUS DOPE!!! SOMEONE… STAND UP and SAY not just “NO” but “HELL NO” to this tyrant.
Report Post »JRook
Posted on June 23, 2011 at 3:59pm@PATTY HENRY Actually he can and you should be applauding a someone in DC standing up to Wall Street and big money speculators making money doing nothing and hurting our economy. Try and get out of your ideological hole for just a sec and understand what he just did. You are like so many here that didn’t even give credit when Bin Laden was dropped. Time to become a citizen of something other than your narrow ideological view of the world.
Report Post »JRook
Posted on June 23, 2011 at 4:01pm@Dont-hate-on-me-2 can you explain why there has been no action on the 200 permits release before the BP spill???? Moronic cheers are Sarah’s thing…don’t repeat them.
Report Post »silentwatcher
Posted on June 23, 2011 at 4:11pmDeplete our oil reserves (meant for EMERGENCIES) for a b.s. reason. Now, should something severe occur to our economy, or America comes under attack, we have depleted our emergency stash so Obama can look good.
That oil is to keep our system going for fire, police, national gaurd, should we have an NATIONAL emergency. Better keep your eyes open,,,,maybe SOMETHING very big is about to happen,. It wouldn’t suprise me, tho.
Report Post »Jhn'1
Posted on June 23, 2011 at 5:36pmThis has nothing to do with helping the US economy.
It is about converting assets to cash to keep spending in spite of reaching the debt-limit cap.
Report Post »That it also uses up strategic assets (just as much as shooting up multimillion dollar cruise missiles without replacing them) is just seen as a win-win by this administration.
avenger
Posted on June 23, 2011 at 6:31pmhey…this is part of gutting the military,now he cut their fuel….wtf !
Report Post »the hawk
Posted on June 23, 2011 at 6:54pmThis should require a congressinal vote at least !
Report Post »Thatsitivehadenough
Posted on June 23, 2011 at 7:33pmAt what point exactly do the American people STOP this traitor from destroying the strength of our great nation? Didn’t ANYONE in Congress read “The Roots of Obama’s Rage”????
It’s time for Americans to start IMPEACHMENT proceedings against this enemy of the United States.
I’ve had enough of waiting for 2012. Have YOU?????
Report Post »RCScrolls
Posted on June 23, 2011 at 8:56pmIts only Two days of our oil usage how much more obvious can it be that its only a political campaign stunt.
Report Post »AOL_REFUGEE
Posted on June 23, 2011 at 9:36pmOboe is nothing but an ignoraNus with a big mouth.
Report Post »masterplan
Posted on June 24, 2011 at 12:03amI want to know what he will do with the
income received from this reserve !
Pay down the National debt or put it in his bank account ?
Report Post »GETLIFE
Posted on June 24, 2011 at 5:17am“The release from the U.S. Strategic Petroleum Reserve will amount to half of a 60 million barrel international infusion of oil planned for the world market over the next month.”
DOCGREEN, I read it the same way you did. Nowhere is it clearly stated that the American oil reserves will stay in the American market. The AP article makes it clear that the release is “…part of a broader international response….”
Report Post »Georgemgeorge
Posted on June 24, 2011 at 6:47amOh my god, you people need to get a grip.
Sometimes the president does things because it’s a good move for the people of the country. That’s his job.. you know… as president & all.
This was a move to stamp out some of the speculation in the oil market. To oversimplify: a lot of people were buying oil futures on the assumption that oil prices would continue to rise – which unduly causes the price of oil to keep inflating – similar to a “bubble”. A quick jolt like this triggers a brief drop in the oil price, which costs those speculators a ton of money and drives away many of the speculators.
Look at the oil markets today. It worked! Your gas prices will be lower for the foreseeable future because of it.
Isn’t the president SUPPOSED to do stuff that helps the people of his country?
Aren’t you happy that something good just happened for your country? Or are you more unhappy because when something good happens to the country, that‘s also good for Obama’s re-election chances?
It looks like for many of you, your hatred of Obama outweighs your love of your country. That’s sad.
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