All of the sudden there is an oil pipeline leaking, must be retaliation for opening the reserves. The right wing assholes will stop at nothing to make thing bad and then blame Obama for what they did.
This is clearly a mission creep plan because they did not expect Libyan war for regime change to last this long... and now the summer and winter oil consumption hike would make the Saudi decision to cover for Libya's loss of production not possible... thus they dump oil at a loss onto the market.
This was nothing more than a politcal move on Obama's part. Oil prices were already dropping and Obama could have done this a long time ago but he waited until the prices started to drop. I'm sure he'll go on a "spike the ball" tour and take credit.
@hoosierhiver I didn't say he did. Oil prices have been dropping for 2 weeks, even I saw that so why tap into the reserve now. Don't be fooled. This guy has a political motive for everything he does and it's all geared to help get him re-elected.
It won't work. Any drop in gas prices is only temporary. Their are exactly two solutions to gas prices. Either we make nice with Arab nations or we let prices rise until alternative energy becomes cost effective. Dumping the strategic supply will only weaken the nation's international bargaining power. I'm just a citizen, and I can see this.
@meltdown53 This is total bullshit. More drilling in the US will have no effect on prices. OPEC will adjust output and the prices will stay the same. If you' believe oil companies will sell this oil to our citizens at a discount you're a fool. Making profit is all they car about. Isn't it time idiots understand that we can't rely on oil. We are prolonging a need to make a necessary change in the way we thing about our energy needs and consumption. BTW, better luck in 2016.
In almost all countries the govt owns all minerals & thus has a govt oil production company with some control over pricing & if they produce more than they need, you might be able to buy gas for less than $1 per gal in the country
But in the USA important court cases ruled that people & In some cases the states, own the oil under their lands so we have International oil companies doing the drilling here & if they can get a nickle more selling to Japan they will.
smart move...the critical months for a cost of living increase for the retiree's are jul, aug, and sept. ...if we can get back to about $2.00 a gallon, there will be not COLA for retiree's and the disabled.
LOL. He could have done this when gas prices were at $5. He just did this now because his ratings dipped to an all time low that he thought he may never come back from! If he were serious, he would allow drilling, and I don't mean for Petrobras.
All of the sudden there is an oil pipeline leaking, must be retaliation for opening the reserves. The right wing assholes will stop at nothing to make thing bad and then blame Obama for what they did.
themeaningoflife38 8 months ago
I wonder why there are oil wells in ohio and indiana that are shutdown that could be producing oil. Maybe oil companies want prices high?
themeaningoflife38 8 months ago
How much effect can a 11/2 day supply have?
notaneoliberal 8 months ago
This is clearly a mission creep plan because they did not expect Libyan war for regime change to last this long... and now the summer and winter oil consumption hike would make the Saudi decision to cover for Libya's loss of production not possible... thus they dump oil at a loss onto the market.
Soldior 8 months ago
the poor and middle class are getting destroyed with all these high food and energy prices..
doc7474 8 months ago
This was nothing more than a politcal move on Obama's part. Oil prices were already dropping and Obama could have done this a long time ago but he waited until the prices started to drop. I'm sure he'll go on a "spike the ball" tour and take credit.
mardi06 8 months ago
@mardi06 Obama doesn't control the IEA.
hoosierhiver 8 months ago
@hoosierhiver I didn't say he did. Oil prices have been dropping for 2 weeks, even I saw that so why tap into the reserve now. Don't be fooled. This guy has a political motive for everything he does and it's all geared to help get him re-elected.
mardi06 8 months ago
@mardi06 of course, it always is
hoosierhiver 8 months ago
It won't work. Any drop in gas prices is only temporary. Their are exactly two solutions to gas prices. Either we make nice with Arab nations or we let prices rise until alternative energy becomes cost effective. Dumping the strategic supply will only weaken the nation's international bargaining power. I'm just a citizen, and I can see this.
ariuszarim 8 months ago
how about lifting the moratorium, drill our OWN oil and tell the saudies to shove their oil.....to simple
2012 can NOT come soon enough
meltdown53 8 months ago
@meltdown53 This is total bullshit. More drilling in the US will have no effect on prices. OPEC will adjust output and the prices will stay the same. If you' believe oil companies will sell this oil to our citizens at a discount you're a fool. Making profit is all they car about. Isn't it time idiots understand that we can't rely on oil. We are prolonging a need to make a necessary change in the way we thing about our energy needs and consumption. BTW, better luck in 2016.
mordred612 8 months ago
@mordred612 - Good pt,
In almost all countries the govt owns all minerals & thus has a govt oil production company with some control over pricing & if they produce more than they need, you might be able to buy gas for less than $1 per gal in the country
But in the USA important court cases ruled that people & In some cases the states, own the oil under their lands so we have International oil companies doing the drilling here & if they can get a nickle more selling to Japan they will.
DillonDee1 8 months ago
now the GOP will hit back,maybe sabotage some refineries or drilling rigs.
themeaningoflife38 8 months ago
@themeaningoflife38 Sorry, skippy, but that's not the MO for conservatives. The left if far more likely to commit violent crimes.
mardi06 8 months ago
One of the last arrows to try and revive the US economy. The Japanese property bubble blew in 1990 and they still have near zero interest rates.
BILLYBANTER69 8 months ago
smart move...the critical months for a cost of living increase for the retiree's are jul, aug, and sept. ...if we can get back to about $2.00 a gallon, there will be not COLA for retiree's and the disabled.
fleetingdays 8 months ago
30 million is no more that 2 days worth stupid news.
Anothercoilgun 8 months ago
LOL. He could have done this when gas prices were at $5. He just did this now because his ratings dipped to an all time low that he thought he may never come back from! If he were serious, he would allow drilling, and I don't mean for Petrobras.
TheYoungTurdz 8 months ago