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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
honda0105
Champion Author Tallahassee

Posts:24,091
Points:2,393,340
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.
roadrunnin
Champion Author Richmond

Posts:2,138
Points:863,480
Joined:May 2008
Message Posted: Aug 21, 2012 2:56:51 PM

why?
rjhenn
Champion Author Des Moines

Posts:29,746
Points:2,963,520
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.
sydb7
Champion Author Atlanta

Posts:5,943
Points:2,605,560
Joined:Mar 2003
Message Posted: Aug 20, 2012 12:46:03 PM

release the SPR now!
sparky808
Champion Author Honolulu

Posts:5,991
Points:1,353,210
Joined:Sep 2011
Message Posted: Aug 20, 2012 12:20:38 PM

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

Posts:1,271
Points:783,820
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.
tomok
Champion Author Portland

Posts:46,329
Points:3,128,985
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!
oas
Champion Author Maryland

Posts:7,482
Points:2,920,540
Joined:Feb 2005
Message Posted: Aug 19, 2012 11:48:53 PM

A political option.
defiancegasman
Champion Author Ohio

Posts:7,198
Points:1,358,130
Joined:May 2006
Message Posted: Aug 19, 2012 11:12:11 PM

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

Posts:6,900
Points:1,764,680
Joined:Feb 2006
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.
Wanda127
Champion Author Florida

Posts:5,624
Points:1,691,405
Joined:May 2010
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.
rahcat
Champion Author Grand Rapids

Posts:5,980
Points:1,446,425
Joined:Jan 2010
Message Posted: Aug 19, 2012 11:03:56 PM

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

Posts:5,045
Points:1,231,090
Joined:Jan 2012
Message Posted: Aug 19, 2012 11:02:57 PM

Beeeg mistake.
GRUMPY55
Champion Author California

Posts:3,149
Points:1,075,150
Joined:Oct 2011
Message Posted: Aug 19, 2012 11:01:58 PM

ok
pgerassi
Champion Author Milwaukee

Posts:14,171
Points:2,911,765
Joined:Apr 2007
Message Posted: Aug 19, 2012 11:01:54 PM

OK
jem069
Champion Author Detroit

Posts:4,585
Points:1,296,160
Joined:Jan 2011
Message Posted: Aug 19, 2012 11:01:12 PM

Ok
toytech3
All-Star Author Chicago

Posts:917
Points:629,620
Joined:Mar 2011
Message Posted: Aug 19, 2012 10:58:40 PM

Don't do it
mgune9
All-Star Author Dallas

Posts:914
Points:200,395
Joined:Feb 2012
Message Posted: Aug 19, 2012 10:57:52 PM

bad option
jackster111
Champion Author North Carolina

Posts:8,367
Points:1,168,450
Joined:Feb 2012
Message Posted: Aug 19, 2012 10:55:47 PM

okay
Bezalel
Champion Author Oklahoma City

Posts:15,392
Points:3,070,770
Joined:Oct 2006
Message Posted: Aug 19, 2012 10:54:51 PM

Read it here yesterday!

--
True, beachmanglen
beachmanglen
Champion Author Tampa

Posts:1,872
Points:1,074,575
Joined:Aug 2011
Message Posted: Aug 19, 2012 10:52:35 PM

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

Posts:2,540
Points:888,110
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.
Night Owl
Champion Author Toronto

Posts:10,725
Points:2,564,705
Joined:Jul 2004
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.
Beaveronparade
Champion Author Hartford

Posts:3,406
Points:1,353,745
Joined:Mar 2011
Message Posted: Aug 19, 2012 10:49:25 PM

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

Posts:1,398
Points:385,030
Joined:Mar 2012
Message Posted: Aug 19, 2012 10:49:22 PM

go green
FuelOilOH
Champion Author Cleveland

Posts:2,876
Points:1,226,580
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.
jrsva
Champion Author Virginia

Posts:13,365
Points:2,396,250
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.
tidalwave3
Champion Author Tallahassee

Posts:2,780
Points:2,190,395
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 :/
oldiesman
Champion Author New York

Posts:9,449
Points:2,927,955
Joined:May 2006
Message Posted: Aug 19, 2012 10:44:06 PM

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

Posts:3,824
Points:2,106,535
Joined:Mar 2008
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!!!
Chris46
Champion Author Dayton

Posts:50,654
Points:2,850,645
Joined:Sep 2005
Message Posted: Aug 19, 2012 10:40:51 PM

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

Posts:3,537
Points:886,655
Joined:Oct 2008
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
gumbyrex
Champion Author Fresno

Posts:6,532
Points:1,539,130
Joined:Mar 2011
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?
thepi
All-Star Author Twin Cities

Posts:885
Points:1,978,615
Joined:Nov 2001
Message Posted: Aug 19, 2012 10:38:13 PM

OMG! Obama Must Go!
bradley1969
Champion Author Wisconsin

Posts:4,075
Points:926,245
Joined:Mar 2012
Message Posted: Aug 19, 2012 10:35:15 PM

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

Posts:1,117
Points:875,770
Joined:Apr 2011
Message Posted: Aug 19, 2012 10:29:37 PM

This is a political move.
gmcgas
Champion Author Atlanta

Posts:9,294
Points:2,494,645
Joined:Mar 2004
Message Posted: Aug 19, 2012 10:27:35 PM

stupid
GatorGuy
Champion Author Columbia

Posts:4,334
Points:1,913,805
Joined:Jan 2009
Message Posted: Aug 19, 2012 10:26:55 PM

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

Posts:7,797
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Joined:Jun 2007
Message Posted: Aug 19, 2012 10:25:33 PM

Okay.
RevDrCBJ
Veteran Author Ann Arbor

Posts:441
Points:301,300
Joined:Jul 2011
Message Posted: Aug 19, 2012 10:25:20 PM

hmm.
granitestater
Champion Author New Hampshire

Posts:12,881
Points:2,202,380
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...
jad1960
Champion Author Gary

Posts:1,648
Points:639,475
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.
Holly123
Champion Author Charlotte

Posts:6,012
Points:1,544,175
Joined:Dec 2010
Message Posted: Aug 19, 2012 10:22:10 PM

Screw Obama.
farn1958
All-Star Author Twin Cities

Posts:886
Points:183,385
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.
wayoung56
Champion Author Alabama

Posts:5,926
Points:1,582,660
Joined:Oct 2006
Message Posted: Aug 19, 2012 10:16:29 PM

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

Posts:670
Points:1,313,835
Joined:Sep 2007
Message Posted: Aug 19, 2012 10:15:38 PM

pk
texashoudini
Champion Author Austin

Posts:4,211
Points:1,776,225
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.
matthwbar
Champion Author Toledo

Posts:7,136
Points:1,787,150
Joined:Jun 2007
Message Posted: Aug 19, 2012 10:14:30 PM

A stupid option...
nj2000ng
Champion Author Houston

Posts:1,507
Points:449,020
Joined:Jan 2010
Message Posted: Aug 19, 2012 10:13:08 PM

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

Posts:3,452
Points:275,915
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.
flyfast
Champion Author Kansas City

Posts:12,439
Points:2,601,775
Joined:Jan 2008
Message Posted: Aug 19, 2012 10:03:39 PM

BUYING VOTES
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