Just in time, rising costs of barrels of oil - Check Re-election coming up - Check Problem, Reaction, Solution = Bullshit NewsDaily: Exclusive: U.S., Britain to agree emergency oil stocks release
I'm sure it'll work even better at keeping the cost of oil down then it did this time last year when we invaded Libya.
Obama is a piece of garbage. He's trying to get elected again and knows he can't do that if the cost of oil is too high. If we deplete the reserves now then when the war actually starts we will be without a net.
Oil prices have nothing to do with any President, in fact they are relatively low in historical terms at the moment. It's the value of the currencies oil is measured against that is falling. See: here Tapping the strategic reserves is solely done for political purposes, as is everything else the President does between now and election day.
yep...and congress is helping him out too... they are old pros at the game... wipe wipe pinch flush another amendment blame the other party get elected kill lie ? profit yep, old pros...
Yea dude, Obama and PM Cameron are BFFs if you haven't heard. You know, I would really love Obama if he wasn't such a backstabbing sonofabitch....
A friend of mine on FB is a geologist for a company that builds and operates oil wells under contract for other larger oil companies. He was bitching on FB last week about Obama releasing oil from the reserves. He tried to make the argument that releasing oil from the reserves amounted to Government meddling in the oil market - which he claimed is the only thriving industry left in the US. Another one of his friends suggested that we also end oil subsidies too, as that's just another way for the Government to meddle. He got pissed. "Do you realize if you cut off those subsidies, gas would be $7-$10 per gallon! That would cripple the economy! Why do we want to punish the only thriving industry left?!" I replied that if the only thing keeping gas from costing $7-$10/gallon at the pump is Government subsidy, then gas already costs $7-$10/gallon, the other $3-$6 is just hidden in the form of subsidies which the economy still has to absorb, whether through taxes or debt/inflation. I stated that taking money from all tax payers to keep gas cheaper for shipping companies and people who drive gas guzzlers (this friend also owns three Jeeps and a big ass GM truck) is "socialized gasoline". A person who pays the same taxes, but drive a 30mpg car vs. a 15mpg truck is only getting the subsidy derived discount on 1/2 as much product, even though they are paying the same price for the discount. Thereby actually punishing thrift and rewarding excess consumption - the more you buy, the more value you get for your share of tax money that goes to pay for subsidies. I explained that if gas suddenly cost $10/gallon at the consumer level, then demand would increase for more fuel efficient cars. It would make economic sense for someone to trade in their SUV for a new, more fuel efficient car just based on the price of fuel alone. And that might lead to more local car manufacturing jobs. And that subsidizing oil companies and hiding part of the real cost of fuel is also subsidizing transportation companies that rely on cheap fuel to be able to haul shit from China cost effectively. And that if it suddenly cost twice as much to bring shit from China, local manufacturing would be in a better position to compete with imports. The same subsidies that were resulting in him being able to pay for two new vehicles every year, were also subsidizing imports that were costing my friends with manufacturing jobs some of their jobs. Indeed my friends with manufacturing job's own taxes were going to subsidize their competitions transportation costs. They were paying to make their own employers less competitive. He didn't even reply, he just unfriended me.
People on FB can't debate with anyone with real knowledge. I've totally shut down so many of my FB friends who are Obama supporters. The truth shatters their world view so they just tune it out.
