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GasBuddy News Article

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Obama Aide Says Using Petroleum Reserve Is an ‘Option’

CNN -- The Obama administration is monitoring oil markets and a release from the nation’s Strategic Petroleum Reserve remains “an option that is on the table” if prices rise or supply is disrupted, said Josh Earnest, a White House spokesman.

“The administration does carefully monitor the global oil market” because of its impact on the economy, Earnest said at a briefing today. No decision has been made and he refused to say whether there is active discussion about the reserve.

Oil has climbed 3.4 percent this week on concern that Israel will strike to delay Iran from producing nuclear weapons and as the United Nations Security Council conceded it couldn’t stem the violence in Syria. The U.S. got 16.4 percent of its imported oil from the Persian Gulf in 2011, according to Energy Department


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Submitted Aug 19, 2012 By: bar1035
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Obama Aide Says Using Petroleum Reserve Is an ‘Option’ Back to Topics
REPLIES (newest first) Post a Reply
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honda0105
Champion Author Tallahassee

Posts:21,418
Points:1,939,065
Joined:Nov 2008
Message Posted: Aug 22, 2012 4:58:57 AM

Syc: we are already drilling a lot more. It's all about specutraitors, not supply and demand.
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roadrunnin
Champion Author Richmond

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Points:745,500
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Message Posted: Aug 21, 2012 2:56:51 PM

why?
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rjhenn
Champion Author Des Moines

Posts:25,720
Points:2,533,680
Joined:Aug 2005
Message Posted: Aug 20, 2012 3:51:41 PM

sydb7 - "release the SPR now!"

Why?

Try to provide an actual argument, rather than just an idiotic demand.
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sydb7
Champion Author Atlanta

Posts:4,672
Points:2,190,565
Joined:Mar 2003
Message Posted: Aug 20, 2012 12:46:03 PM

release the SPR now!
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sparky808
Champion Author Honolulu

Posts:4,562
Points:911,170
Joined:Sep 2011
Message Posted: Aug 20, 2012 12:20:38 PM

Drilling more is an option. The SPR is NOT an option.
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SycamoreISU
Champion Author Indiana

Posts:1,218
Points:465,385
Joined:Jan 2012
Message Posted: Aug 20, 2012 9:07:53 AM

If we were allowed to drill our own oil, this wouldn't even be an issue.
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tomok
Champion Author Portland

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Points:2,674,710
Joined:Aug 2006
Message Posted: Aug 20, 2012 4:26:58 AM

No release from the SPR is necessary, a release will Not lower the cost of fuel at the pump and the reserves are needed for 'just in case' (Justin Case?).
Whatever the size or shape of the vehicle, Produce and ‘Drive’ vehicles with high MPG, are very safe, reliable, have a ‘reasonable’ cost and a good ‘value’ for the money. Consider using other forms of less expensive transportation to lower your cost.
The price of fuel at the pump is too high!
12/22/2012!
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oas
Champion Author Maryland

Posts:5,882
Points:2,470,615
Joined:Feb 2005
Message Posted: Aug 19, 2012 11:48:53 PM

A political option.
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defiancegasman
Champion Author Ohio

Posts:7,188
Points:1,355,355
Joined:May 2006
Message Posted: Aug 19, 2012 11:12:11 PM

We need to BURN the speculators!!
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nru
Champion Author Twin Cities

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Message Posted: Aug 19, 2012 11:10:11 PM

Why - the Strategic Petroleum Reserve is for cases when we are at war and we get an oil supply disruption (see 1973) - it should not be viewed as an economic tool. Put the federal fleet on CNG (or at least hint you are going to do it) and the price of oil will go to the bottom in a hurry.
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Wanda127
Champion Author Florida

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Message Posted: Aug 19, 2012 11:09:57 PM

I'm with you granitestater. I believe those in the white house are trying to keep fear of not having enough fuel so the prices can be kept on the high side & they think we won't complain about renewal energy & solar energy cost.
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rahcat
Champion Author Grand Rapids

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Message Posted: Aug 19, 2012 11:03:56 PM

How many votes will this buy?????
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ManOfLeisureII
Champion Author Philadelphia

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Message Posted: Aug 19, 2012 11:02:57 PM

Beeeg mistake.
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GRUMPY55
Champion Author California

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Message Posted: Aug 19, 2012 11:01:58 PM

ok
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pgerassi
Champion Author Milwaukee

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Message Posted: Aug 19, 2012 11:01:54 PM

OK
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jem069
Champion Author Detroit

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Message Posted: Aug 19, 2012 11:01:12 PM

Ok
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toytech3
All-Star Author Chicago

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Message Posted: Aug 19, 2012 10:58:40 PM

Don't do it
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mgune9
All-Star Author Dallas

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Message Posted: Aug 19, 2012 10:57:52 PM

bad option
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jackster111
Champion Author North Carolina

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Message Posted: Aug 19, 2012 10:55:47 PM

okay
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Bezalel
Champion Author Oklahoma City

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Message Posted: Aug 19, 2012 10:54:51 PM

Read it here yesterday!

--
True, beachmanglen
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beachmanglen
Champion Author Tampa

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Message Posted: Aug 19, 2012 10:52:35 PM

It's just a ploy for the election.
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bonzoonfmb
Champion Author Florida

Posts:2,540
Points:887,510
Joined:Feb 2010
Message Posted: Aug 19, 2012 10:50:54 PM

There is plenty of supply, just hold on to it now.

TheHermit - The oil has been sitting underground for millions of years anyway.
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Night Owl
Champion Author Toronto

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Message Posted: Aug 19, 2012 10:50:32 PM

This was already done and it didn't do anything at all. President Obama has to go after the root cause -- greedy oil speculators. They need to be banned from trading oil futures.
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Beaveronparade
Champion Author Hartford

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Message Posted: Aug 19, 2012 10:49:25 PM

Bad idea! This is for real emergencies, like no oil available.
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joeschmo12
Champion Author New York

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Message Posted: Aug 19, 2012 10:49:22 PM

go green
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FuelOilOH
Champion Author Cleveland

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Joined:Oct 2007
Message Posted: Aug 19, 2012 10:48:52 PM

Sure, he's talking about it now when his term is about up. What a joke we put in office 4 years ago.
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jrsva
Champion Author Virginia

Posts:11,656
Points:1,941,200
Joined:Jan 2006
Message Posted: Aug 19, 2012 10:48:35 PM


The SPR is for emergencies. We are not in an emergency situation at this time.
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tidalwave3
Champion Author Tallahassee

Posts:2,078
Points:1,766,405
Joined:Jun 2008
Message Posted: Aug 19, 2012 10:47:41 PM

No understandin of what the Strtegic Reserves are for or doesn't care. Let US drill our own oil and use Canada's oil :/
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oldiesman
Champion Author New York

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Message Posted: Aug 19, 2012 10:44:06 PM

It's not going to get him votes!
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TFowler513
Champion Author Memphis

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Message Posted: Aug 19, 2012 10:42:33 PM

Just trying to buy votes and not thinking of the long term ramifications... or just doesn't care!!!
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Chris46
Champion Author Dayton

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Message Posted: Aug 19, 2012 10:40:51 PM

What, for 2 or 3 weeks? What good is that going to do?
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LCSTEELERBOB
Champion Author Gary

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Message Posted: Aug 19, 2012 10:39:19 PM

lets just do it and then the goverment can just tell oil to payback the reserve used
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gumbyrex
Champion Author Fresno

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Message Posted: Aug 19, 2012 10:38:31 PM

What happens if there is a real emergency and the reserves have been drawn for non emergency political purpose. Will there be enough reserves remaining?
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thepi
All-Star Author Twin Cities

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Message Posted: Aug 19, 2012 10:38:13 PM

OMG! Obama Must Go!
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bradley1969
Champion Author Wisconsin

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Joined:Mar 2012
Message Posted: Aug 19, 2012 10:35:15 PM

MAN I CAN'T WAIT TILL THAT IDIOT IS GONE!!!!
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Is246
Champion Author Albuquerque

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Message Posted: Aug 19, 2012 10:29:37 PM

This is a political move.
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gmcgas
Champion Author Atlanta

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Message Posted: Aug 19, 2012 10:27:35 PM

stupid
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GatorGuy
Champion Author Columbia

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Message Posted: Aug 19, 2012 10:26:55 PM

I'll be looking into my options in November...
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Hi1
Champion Author Ontario

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Message Posted: Aug 19, 2012 10:25:33 PM

Okay.
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RevDrCBJ
Veteran Author Ann Arbor

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Message Posted: Aug 19, 2012 10:25:20 PM

hmm.
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granitestater
Champion Author New Hampshire

Posts:10,752
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Joined:Oct 2008
Message Posted: Aug 19, 2012 10:25:19 PM

Morons. There is a surplus of oil/gas on the market. Price is dictated more by fear than supply/demand these days. We can now export our surplus of natural gas. There is no longer an energy crisis. We can build enough nuclear and natural gas powered plants to supply our needs. But the powers that be would lose control over our lives if that happened...
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jad1960
Champion Author Gary

Posts:1,634
Points:588,815
Joined:Feb 2012
Message Posted: Aug 19, 2012 10:23:13 PM

Is this Obamas way of trying to win voters, not me vote him out.
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Holly123
Champion Author Charlotte

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Message Posted: Aug 19, 2012 10:22:10 PM

Screw Obama.
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farn1958
All-Star Author Twin Cities

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Joined:Feb 2011
Message Posted: Aug 19, 2012 10:17:22 PM

using oil from the reserve is and always has been a very bad idea it has never worked in the past.
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wayoung56
Champion Author Alabama

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Message Posted: Aug 19, 2012 10:16:29 PM

More Obama bait and switch to confuse voters...
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mobil1MN
All-Star Author Minnesota

Posts:664
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Joined:Sep 2007
Message Posted: Aug 19, 2012 10:15:38 PM

pk
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texashoudini
Champion Author Austin

Posts:3,420
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Joined:Jun 2009
Message Posted: Aug 19, 2012 10:15:38 PM

What a joke. That's not an option. Obama needs to take on the speculators. Will he? Of course not. Doesn't do anything to control the cost of gas and thus has people out of work and the economy going down.
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matthwbar
Champion Author Toledo

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Message Posted: Aug 19, 2012 10:14:30 PM

A stupid option...
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nj2000ng
Champion Author Houston

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Message Posted: Aug 19, 2012 10:13:08 PM

Obama will say anything to win votes.
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TheHermit
Champion Author Maine

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Joined:May 2012
Message Posted: Aug 19, 2012 10:07:40 PM

Maybe they need an excuse to rotate the old oil thats been sitting stored underground.
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