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(Powerline)   The results of Obama's release of oil from the strategic reserve are in: it was a collosal failure if the attempt was to lower gas prices, but a huge success at providing Big Oil subsidies   (powerlineblog.com) divider line 115
    More: Fail, Strategic Petroleum Reserve, strategic reserve, oil reserves, gas prices, obama  
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1316 clicks; posted to Politics » on 06 Jul 2011 at 4:54 AM (3 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2011-07-06 11:43:42 AM
i121.photobucket.com


Speculative markets are a funny thing. The price at the pump today has more to do with the death of bin Laden and the general hope of more stable oil as a result than the release of oil from the SOR.

Too bad you can only kill bin Laden once.
 
2011-07-06 11:46:53 AM
Driving around the San Fernando Valley here and noticed gas prices dipping into the $3 zone again. First time in months.
 
2011-07-06 11:49:46 AM
$3.37 a gallon near me. (just looked up current prices)
 
2011-07-06 11:50:22 AM

turbidum: [2.bp.blogspot.com image 320x240]

/the only Powerline I trust


Came here for that reference, left feeling satisfied
 
2011-07-06 11:50:48 AM

Alphax: $3.37 a gallon near me. (just looked up current prices)


I bet you did that on the Internet, which was created by socialism. So now, you are wrong. Because Socialism.
 
2011-07-06 11:51:46 AM
Cloudchaser Sakonige the Red Wolf (ignored) Quote 2011-07-06 11:50:22 AM

A republican furry appears! I use ignore. IT'S SUPER EFFECTIVE!
 
2011-07-06 12:03:06 PM

AdolfOliverPanties: It must be very strange to be President Bush. A man of extraordinary vision and brilliance approaching to genius, he can't get anyone to notice. He is like a great painter or musician who is ahead of his time, and who unveils one masterpiece after another to a reception that, when not bored, is hostile.

-John Hinderaker, Powerline Blog



Wow. that is awesome.

It appears the comments section is closed on the blog, but I really wanted to post this.
 
2011-07-06 12:06:31 PM

SpectroBoy: AdolfOliverPanties: It must be very strange to be President Bush. A man of extraordinary vision and brilliance approaching to genius, he can't get anyone to notice. He is like a great painter or musician who is ahead of his time, and who unveils one masterpiece after another to a reception that, when not bored, is hostile.

-John Hinderaker, Powerline Blog


Wow. that is awesome.

It appears the comments section is closed on the blog, but I really wanted to post this.


At first glance I thought that read "Pres. Obama", not Bush. LOL. Wow, what a statement!!
 
2011-07-06 12:27:50 PM

Doc Daneeka: I'm pretty liberal. I voted for Obama before, and I'll do it again.

That said, tapping the SPR was dumb, and a blatant, empty political gesture. The SPR is supposed to be reserved for actual crises and shortages, not for whenever Americans start whining about the cost of filling up their SUVs. Americans already pay less for gasoline than the rest of the developed world. It was ridiculous and unnecessary.

I don't want to see the SPR touched again until we start seeing scenes like this again.

[upload.wikimedia.org image 407x600]
[www.silverbearcafe.com image 340x253]


I'm fairly liberal, I voted for Obama, and I won't do it again. We are in 4 (or is it 5?) wars, not 0. Troops are coming home over time over a number of years, not soon enough. Not strong enough on Gay Marriage, not strong enough on ending the War on Drugs.

Yeah, I may be "wasting" my vote, but I'm voting for Gary Johnson.

/He kicked ass as Governor
//http://www.garyjohnson2012.com/issues
 
2011-07-06 02:09:42 PM

DozeNutz: Thread is full of Obamapologists. Its really disturbing how they will defend his actions tooth and nail.

The gas reserves being used is a form of price fixing. The wall st guys buying this stuff up at this price to sell to us 6 weeks later at $1 more to make them rich.


I figured the oil reserve was just a convenient way to subsidize friendly Middle Eastern governments when the market price wouldn't allow them to dump extra oil on the world market without consequences.

/Didn't get up to the chapter about its actual creation though. I just noticed that the Shah of Iran put forward that precise plan for a strategic oil reserve in the 60s.
 
2011-07-06 03:16:36 PM
I wonder if the cost of gas has ever come down in the summer, since we started paying attention.
I can't find any evidence that it has ever done so.
 
2011-07-06 07:06:23 PM
I didn't think so when I received my oil royalty check.
 
2011-07-06 07:11:49 PM
We have some of the highest prices in the country, and it's down 40 cents from where it was a few weeks ago, and still dropping.

Suck it, repugnitards.
 
2011-07-06 09:41:23 PM
As someone in the seafood industry, we don't give a shiat why our costs (and therefor price off the boat) is/are dropping. The drop in fuel prices is the only break we've had in years, and it is very welcome.
 
2011-07-08 03:50:48 PM

LarryDan43: hahah, Obama is so stupid!

along with the leaders of the other countries that released oil reserves:

Australia
Republic of Korea
Austria
Luxembourg
Belgium
The Netherlands
Canada
New Zealand
Czech Republic
Norway
Denmark
Poland
Finland
Portugal
France
Slovak Republic
Spain
Greece
Sweden
Hungary
Switzerland
Ireland
Turkey
Italy
The United Kingdom
Japan


This.

It was a strategic move to offset the interruption of Libyan supplies. Hence the name "strategic reserves"
 
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