Obama releasing 30M barrels from US o...

Obama releasing 30M barrels from US oil reserves (12:37 p.m.)

There are 4 comments on the Las Cruces Sun-News story from Jun 23, 2011, titled Obama releasing 30M barrels from US oil reserves (12:37 p.m.). In it, Las Cruces Sun-News reports that:

In this June 13, 2011 file photo, President Barack Obama speaks in Miami. Wary of a new surge in gas prices, the Obama administration has decided to release 30 million barrels of oil from the country's emergency reserve as part of a broader international response to lost oil supplies caused by turmoil in the Middle East and North Africa, ...

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Cool Hand Luke

Las Cruces, NM

#1 Jun 23, 2011
Last time Clinton did this it brought the gas prices down a Penny. These fools couldn't run a Fireworks Stand!
Politically Incorrect

Farmington, NM

#3 Jun 23, 2011
The current gas prices are relatively low compared to last year and the past few months. Summer travel has already begun and oil companies seem to forecast their pricing structure based upon future, not CURRENT demand. Retailers will probably take advantage of us though.

Additionally, our oil reserves are a pool generally set aside for natural disasters and war.

I don't get it... It is probably just a campaign ploy......

Since: Sep 08

Albuquerque, NM

#4 Jun 23, 2011
Hopefully it will break a few of the speculators. Bet they took a bath today. That's where so much of the massive price increases have come from. Plus of course the big oil's reduction of refinery output....currently way less that 80%.

Should have just increased the margin requirements by 50% and instituted a transaction tax on the specuators.
common sense

Las Cruces, NM

#6 Jun 23, 2011
With the exception of the Bin Laden raid this president has taken so long to make decisions that in the end what he decides doesn't matter anyway.

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