U.S. to release 30 million barrels from Strategic Petroleum Reserve due to Middle East unrest, Energy Department says.
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Obama figures it's better to use up the foreign oil we've been stashing away for years and let the next administration replace it with even higher priced stock than it is to drill our own. Hopefully our subsidy of Brazilian efforts will set them up to gouge us before too long.
ReplyDeleteI am afraid it may be too little too late Mr. President
ReplyDeleteUse our reserves now.Then when the price goes up next time it will make his goal of $5 to $7 dollars a gallon. $4 bucks a gallon just isn't destroying the economy fast enough. If he plays around to much longer he might have to face another election before he can declare marshall law. His daddy was a communist. His mommy was a communist, and he was raised by a communist(Frank Marshall Davis). So what do you think he is?
ReplyDeleteI agree with 10:06 AM. Too little too late
ReplyDeleteHistory has shown that this action has a tempory effect and then oil pices sky rocket. Why not release all the backed-up permits to drill and show the world we are serious about independence. HS economics is above his pay grade.
ReplyDeleteSuch enlightened comments. The repeat of the Brazil b.s. lie at 10:01 was the best!
ReplyDeleteWe use over 20 million barrels of oil a day in the U.S. Releasing 30 million barrels from a hole in the ground that we have filled with over 700 million barrels of foreign oil is nothing but a publicity stunt. We need to stop dumping foreign oil in a hole and start drilling for our own.
ReplyDeleteWe're already one of the world's top oil producing nations and we are the #1 oil importer. If thats not enough oil, don't you guys think it makes more since to diversify?
ReplyDelete