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Pres. Obama may authorize the release of oil from the Strategic Petroleum Reserve in a...

Pres. Obama may authorize the release of oil from the Strategic Petroleum Reserve in a pre-emptive move to head off $100 prices, according to a new Citi report. Even so, an SPR release could be like pushing on a string: It may not matter how much oil authorities release, since the problem is that the “oil multiplier” isn’t working because crude isn’t being converted to product inventory.
Comments (13)
  • montanamark
    , contributor
    Comments (1434) | Send Message
     
    maybe he should just offer a free tank of obama gas in return for a vote
    5 Sep 2012, 03:16 PM Reply Like
  • Swass
    , contributor
    Comments (419) | Send Message
     
    What part of strategic don't presidents understand?
    5 Sep 2012, 03:17 PM Reply Like
  • Topcat
    , contributor
    Comments (413) | Send Message
     
    as in stop Great Depression II
    5 Sep 2012, 03:36 PM Reply Like
  • into dark shadows
    , contributor
    Comments (322) | Send Message
     
    Hey Man, how about Obummer grows a set a demands Bernanke does NOT whip out the QE stun gun and debase our dollar and the working man / woman's standard of living anymore!
    That would bring the price of oil down!
    A STRONG dollar policy!

     

    Come on Barry, show some leadership!
    The S.P.R. is for emergencies!
    Like the Arab Spring you started turning into a runaway inferno!

     

    I hear Morsi is having his Islamic bud's go out and crucify his detractors!
    Great Job over there by the way!
    5 Sep 2012, 03:23 PM Reply Like
  • tomlos
    , contributor
    Comments (1099) | Send Message
     
    Leadership... what's that?
    5 Sep 2012, 03:27 PM Reply Like
  • Larry Smith
    , contributor
    Comments (2481) | Send Message
     
    If he does and he hasn't yet, it would be a silly move. To "head off" $100 oil is not a national emergency. Why doesn't he approve the Keystone pipeline and then we would have a constant stream of more oil, as well as more jobs.
    5 Sep 2012, 03:31 PM Reply Like
  • aretailguy
    , contributor
    Comments (1017) | Send Message
     
    Losing votes due to $5 gas certainly is a national emergency! Obummer doesn't even realize the impact high gas has on REAL AMERICANS. clueless in the White House....
    5 Sep 2012, 03:44 PM Reply Like
  • into dark shadows
    , contributor
    Comments (322) | Send Message
     
    That doesn't fit the green / socialist / progressive George Soros playbook for the radical transformation of the republic,
    you silly rabbit!
    God save the republic
    5 Sep 2012, 03:46 PM Reply Like
  • WMARKW
    , contributor
    Comments (10251) | Send Message
     
    Don't most of the Obama voters ride public transportation?
    5 Sep 2012, 04:18 PM Reply Like
  • Topcat
    , contributor
    Comments (413) | Send Message
     
    Keystone oil is owned by Canadians and will be refined and sold to Europe where they get much higher prices for gasoline. We might get some U.S. jobs created, but it does not help keep the price of gasoline down. The oil companies control product including refining. They hold oil offshore in tankers when the price gets too low. Unless you want government control of oil (like most of the world), our only way out is for our government, under contracts to energy producers, to develop our own resources (oil, natural gas, etc) and legally contract that the oil products must stay in the U.S., and contracted prices.
    5 Sep 2012, 03:41 PM Reply Like
  • davidingeorgia
    , contributor
    Comments (2713) | Send Message
     
    "Pres. Obama may authorize the release of oil from the Strategic Petroleum Reserve in a pre-emptive move to attempt to head off a resounding defeat in the November election, according to a new Citi report (and also according to anyone else who isn't completely clueless)."

     

    There. Fixed it for you.
    5 Sep 2012, 03:45 PM Reply Like
  • Larry Smith
    , contributor
    Comments (2481) | Send Message
     
    Hmm, import oil from Canada or continue to import oil from Venezuela, Saudi Arabia, Nigeria, Russia, etc. The answer is obvious to me. By the way, you have no way of knowing where the oil is going to go, it will be refined in the U.S, but where it goes after it is refined no one knows. In addition, where it goes next month may not be where it goes the month after that. The less oil we import from Venezuela and countries like that, the better I like it.
    5 Sep 2012, 03:51 PM Reply Like
  • JohntheOld
    , contributor
    Comments (162) | Send Message
     
    If it can catch speculators in a bad position, go for it.
    7 Sep 2012, 11:59 AM Reply Like
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