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Obama administration coy on possibility of tapping oil reserve as gas prices rise

Fox News -- The Obama administration is staying mum about the possibility of opening up the Strategic Petroleum Reserve as a way to curb the rise in gas prices -- declining to rule it in or out while insisting all along that officials are not interested in "short-term fixes."
Treasury Secretary Ti Geithner stirred speculation on Friday when, in an interview on CNBC, he said "there's a case for the use of the reserve in some circumstances."

Geithner said the administration would "continue to look at those and evaluate that carefully."
But while the Obama administration last summer announced the release of 30 million barrels from the reserve -- a decision derided by Republicans as a political move -- the White House would not tip its hat to its intentions in an election year.
White House spokesman

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Submitted Feb 27, 2012 By: drpepperTX

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Hobby001 Champion Author Michigan Posts:5,093 Points:1,184,065 Joined:Jul 2007	Message Posted: Mar 30, 2012 3:44:20 PM Ignore Hobby001 Report Abuse It's a good thing that W filled it.
golftellowcat Champion Author Ottawa Posts:2,442 Points:691,900 Joined:Apr 2010	Message Posted: Mar 4, 2012 6:29:24 PM Ignore golftellowcat Report Abuse Not good idea
honda0105 Champion Author Tallahassee Posts:18,610 Points:1,608,545 Joined:Nov 2008	Message Posted: Mar 1, 2012 6:03:15 AM Ignore honda0105 Report Abuse gnu: sad, but true.
kbierley Champion Author Dayton Posts:10,730 Points:1,415,690 Joined:Nov 2003	Message Posted: Feb 29, 2012 2:08:31 PM Ignore kbierley Report Abuse "Due to the rising price of oil and gas, the Obama administration announced today they are considering dipping into our national strategic re-election reserves. I mean, I'm sorry -- strategic oil reserves." --comedian Jay Leno
drpepperTX Champion Author Texas Posts:8,939 Points:751,985 Joined:Apr 2011	Message Posted: Feb 29, 2012 12:45:06 PM Ignore drpepperTX Report Abuse Buzzzz....buzzzzzz :=}
golftellowcat Champion Author Ottawa Posts:2,442 Points:691,900 Joined:Apr 2010	Message Posted: Feb 29, 2012 11:45:15 AM Ignore golftellowcat Report Abuse ok
Gnusman53 Champion Author San Diego Posts:7,003 Points:1,111,445 Joined:Feb 2004	Message Posted: Feb 29, 2012 10:59:44 AM Ignore Gnusman53 Report Abuse poor soda doc....must believe all the phlegm spewed by the fake news minions...(grin)
Gnusman53 Champion Author San Diego Posts:7,003 Points:1,111,445 Joined:Feb 2004	Message Posted: Feb 29, 2012 10:57:57 AM Ignore Gnusman53 Report Abuse All I said was get rid of the speculators...and the prices would drop...
Gnusman53 Champion Author San Diego Posts:7,003 Points:1,111,445 Joined:Feb 2004	Message Posted: Feb 29, 2012 10:56:36 AM Ignore Gnusman53 Report Abuse poor soda doc ....title even says gas prices rise... and he even posted the story.... I guess he has short term memory loss....must be all those bubbles......
dal1 Champion Author Illinois Posts:1,183 Points:147,165 Joined:Jun 2007	Message Posted: Feb 29, 2012 6:56:14 AM Ignore dal1 Report Abuse govt needs to intervene; they do in everything else!
honda0105 Champion Author Tallahassee Posts:18,610 Points:1,608,545 Joined:Nov 2008	Message Posted: Feb 29, 2012 6:10:25 AM Ignore honda0105 Report Abuse and some folks have to resort to hiding behind a name to insult others, accusing them to be off topic but not contributing to anything themselves. As for the SPR, that's not going to help in the long run.
drpepperTX Champion Author Texas Posts:8,939 Points:751,985 Joined:Apr 2011	Message Posted: Feb 28, 2012 11:45:46 PM Ignore drpepperTX Report Abuse LOL, the gnu fly is hopped up on 'hopium' again! Off topic as usual! :=}
Gnusman53 Champion Author San Diego Posts:7,003 Points:1,111,445 Joined:Feb 2004	Message Posted: Feb 28, 2012 4:17:28 PM Ignore Gnusman53 Report Abuse want lower gas prices? get rid of speculators NOW
Gnusman53 Champion Author San Diego Posts:7,003 Points:1,111,445 Joined:Feb 2004	Message Posted: Feb 28, 2012 4:11:44 PM Ignore Gnusman53 Report Abuse I won't hold my breath though
Gnusman53 Champion Author San Diego Posts:7,003 Points:1,111,445 Joined:Feb 2004	Message Posted: Feb 28, 2012 4:11:02 PM Ignore Gnusman53 Report Abuse perhaps one day, they may figure out that speculators are the biggest problem (not the only) with higher gas prices...
Gnusman53 Champion Author San Diego Posts:7,003 Points:1,111,445 Joined:Feb 2004	Message Posted: Feb 28, 2012 4:09:42 PM Ignore Gnusman53 Report Abuse sadly, seems lots of posters like high gas prices...since they don't want to go after speculators ... and it gives them (they think) a fig leaf to blame obama... (grin)
Gnusman53 Champion Author San Diego Posts:7,003 Points:1,111,445 Joined:Feb 2004	Message Posted: Feb 28, 2012 4:07:25 PM Ignore Gnusman53 Report Abuse still seems to be a covey of the clueless perched around here....
SparkieMi Champion Author Kalamazoo Posts:3,258 Points:588,325 Joined:Sep 2011	Message Posted: Feb 28, 2012 3:28:18 AM Ignore SparkieMi Report Abuse What is the REAL reason for the high pump prices???? Not smoke and bells!!
NHLiveFree Champion Author New Hampshire Posts:11,092 Points:1,622,370 Joined:Jun 2008	Message Posted: Feb 28, 2012 1:13:32 AM Ignore NHLiveFree Report Abuse Bravo HYEgasCA. Well written. So glad you have 'seen the light'. Great comment gxs and excellent points. Our wonderful free energy ride is ending and it is definitely time to prepare and develop all our alternatives.
Dodge_Me Champion Author Atlanta Posts:2,214 Points:555,480 Joined:Mar 2006	Message Posted: Feb 28, 2012 12:37:35 AM Ignore Dodge_Me Report Abuse Hmm
abacus44 Champion Author Toms River Posts:3,475 Points:747,515 Joined:Jan 2011	Message Posted: Feb 28, 2012 12:09:54 AM Ignore abacus44 Report Abuse Didn't work for more then a couple of days last time he tried it, why would it work any better now? No real strategic reason to do it other then his re-election strategy
TheeRedRam Champion Author Hartford Posts:3,158 Points:672,410 Joined:Jun 2011	Message Posted: Feb 28, 2012 12:01:32 AM Ignore TheeRedRam Report Abuse .
umitb Champion Author Indianapolis Posts:3,681 Points:844,415 Joined:Apr 2010	Message Posted: Feb 28, 2012 12:01:17 AM Ignore umitb Report Abuse ok
sydb7 Champion Author Atlanta Posts:3,557 Points:1,919,005 Joined:Mar 2003	Message Posted: Feb 27, 2012 11:58:16 PM Ignore sydb7 Report Abuse don't wait! use the spr - the 99% are being hurt!
Throroughbred Champion Author Cleveland Posts:1,031 Points:1,210,770 Joined:Jun 2007	Message Posted: Feb 27, 2012 11:58:08 PM Ignore Throroughbred Report Abuse Obama is an idiot who knows so little he can not get out of his own way.
Rockthecasbah1 Rookie Author Milwaukee Posts:40 Points:2,365 Joined:Feb 2012	Message Posted: Feb 27, 2012 11:57:19 PM Ignore Rockthecasbah1 Report Abuse High gas prices is NOT an emergency. Mayan end of the world scenario, another 4 years of Obama--national emergencies. Mind you other presidents have tapped the reserves but it's really only for votes . . . . because some weak minded voters need a feel good drop of 30 cents or so in the gas price . . . I wish many of the morons who vote weren't so gullible--oh wait, many of them don't pay taxes so really don't have a stake in their vote so why care? . . . .
Kmankeith Veteran Author Rhode Island Posts:459 Points:365,155 Joined:Sep 2011	Message Posted: Feb 27, 2012 11:57:19 PM Ignore Kmankeith Report Abuse november cant come quick enough
FastAndy Champion Author Indianapolis Posts:4,496 Points:1,985,375 Joined:Jun 2007	Message Posted: Feb 27, 2012 11:53:12 PM Ignore FastAndy Report Abuse They all don't know what they are doing.
LaVonneK Champion Author Iowa Posts:2,940 Points:625,775 Joined:Jul 2011	Message Posted: Feb 27, 2012 11:51:24 PM Ignore LaVonneK Report Abuse It sounds very short term.
BCM1 Champion Author Pennsylvania Posts:1,864 Points:782,995 Joined:Jun 2007	Message Posted: Feb 27, 2012 11:50:27 PM Ignore BCM1 Report Abuse Tapping into it would be a bad idea.
DEG Champion Author Las Vegas Posts:17,620 Points:3,494,705 Joined:Jul 2003	Message Posted: Feb 27, 2012 11:44:24 PM Ignore DEG Report Abuse gsx, Geitner is a crook (tax cheat). And Obama is the worst president that this country has had in my lifetime.
blazerbob91 Champion Author Milwaukee Posts:6,140 Points:1,882,695 Joined:Aug 2005	Message Posted: Feb 27, 2012 11:43:44 PM Ignore blazerbob91 Report Abuse Taping the SPR won't help.
zeddieiv Champion Author Columbia Posts:5,740 Points:1,504,905 Joined:Oct 2006	Message Posted: Feb 27, 2012 11:43:29 PM Ignore zeddieiv Report Abuse Another dumb move!
BoerneWatch Champion Author San Antonio Posts:15,536 Points:2,452,965 Joined:Oct 2005	Message Posted: Feb 27, 2012 11:42:32 PM Ignore BoerneWatch Report Abuse The Obama Administration is going to be "Coy" about any decision that could generate campaign "contributions" from several different areas. Think I'm being a little too critical? Check out the "contributions" list while they were being "Coy" about the Keystone fiasco.
DEG Champion Author Las Vegas Posts:17,620 Points:3,494,705 Joined:Jul 2003	Message Posted: Feb 27, 2012 11:42:22 PM Ignore DEG Report Abuse Obama is fishing for votes and has no concern for the long term health of the country.
speedys Champion Author Utah Posts:7,015 Points:2,558,845 Joined:Nov 2005	Message Posted: Feb 27, 2012 11:41:27 PM Ignore speedys Report Abuse Obama is only using the ploy for votes.
confetti Veteran Author Tampa Posts:354 Points:362,290 Joined:Jan 2006	Message Posted: Feb 27, 2012 11:35:05 PM Ignore confetti Report Abuse Great post by BlueVanGroup: "The Strategic Petroleum Reserve exists in case of national emergency. Obama's policies qualify, but a better solution is to vote him out in November."
ACTown Champion Author Oregon Posts:2,347 Points:1,429,605 Joined:Jun 2007	Message Posted: Feb 27, 2012 11:32:21 PM Ignore ACTown Report Abuse A Small short term help.
darkknight1 Champion Author Winston-Salem Posts:4,335 Points:895,085 Joined:Nov 2010	Message Posted: Feb 27, 2012 11:28:57 PM Ignore darkknight1 Report Abuse I don't think it would help much. There are better things that should have been done but weren't.
Prodaddy Champion Author Houston Posts:8,375 Points:1,894,210 Joined:May 2007	Message Posted: Feb 27, 2012 11:27:30 PM Ignore Prodaddy Report Abuse How much do they think the price will drop??
HYEgasCA Champion Author Fresno Posts:2,111 Points:910,000 Joined:Dec 2008	Message Posted: Feb 27, 2012 11:27:18 PM Ignore HYEgasCA Report Abuse I think its great that President Obama is willing to give us this little bit of oil for our unethical ways we live. We don't deserve to be treated this kindly by the president. Thank you Mr. President for showing pity on us!!
woburnspotter2 Veteran Author Boston Posts:480 Points:172,405 Joined:Apr 2007	Message Posted: Feb 27, 2012 11:20:50 PM Ignore woburnspotter2 Report Abuse Something to watch, I guess
PoohMcGoo Champion Author Alabama Posts:3,067 Points:799,835 Joined:Dec 2010	Message Posted: Feb 27, 2012 11:20:37 PM Ignore PoohMcGoo Report Abuse Cuz they're enjoying these high gas prices.. their plan worked..
mstearno Champion Author Dayton Posts:8,066 Points:1,731,235 Joined:Jan 2008	Message Posted: Feb 27, 2012 11:20:36 PM Ignore mstearno Report Abuse OMG GSX is amazing read how we should all be squished into cities so we can use mass transit WHAT A DUMB IDEA We need farmers to grow food or did you not realize that Food stamps give you food and farmers produce food..... Sounds like you should move to CHINA you'd be happier there
Blue48 Champion Author Illinois Posts:7,305 Points:1,637,945 Joined:Feb 2007	Message Posted: Feb 27, 2012 11:18:58 PM Ignore Blue48 Report Abuse WHATEVER!
mstearno Champion Author Dayton Posts:8,066 Points:1,731,235 Joined:Jan 2008	Message Posted: Feb 27, 2012 11:18:07 PM Ignore mstearno Report Abuse gsx you show your lack of knowledge do you know how many times the oil reserve has been tapped FOUR and all four times had the same result panic in the markets which cause oil to go up more. 11 years ago dems were saying drlling in Alaska would take 10 years to get to market Where would we be today if we would have drilled.... Use your brain man
Pumpz Sophomore Author Boston Posts:197 Points:887,125 Joined:Apr 2004	Message Posted: Feb 27, 2012 11:17:01 PM Ignore Pumpz Report Abuse Nothing like raiding the rainy day fund for some temporary political shenanigans.
mcmonsta Champion Author Honolulu Posts:3,227 Points:817,795 Joined:Sep 2009	Message Posted: Feb 27, 2012 11:16:12 PM Ignore mcmonsta Report Abuse just cut iran out...period. short term loss long term gain or we suffer forever
skb69sa Champion Author San Antonio Posts:3,482 Points:710,400 Joined:Mar 2011	Message Posted: Feb 27, 2012 11:16:07 PM Ignore skb69sa Report Abuse Bad move. Oil reserve is for emergency. Administration must do everything to stop speculations and control the gas price rather than tapping oil reserve.
gxs Champion Author New Hampshire Posts:17,997 Points:2,830,005 Joined:May 2004	Message Posted: Feb 27, 2012 11:14:26 PM Ignore gxs Report Abuse Most of the posters on this message board are merely displaying their own stupidity, bashing Obama's policies when they neither know or understand them. Having Geithner stir speculation about possible releases from the reserve -- while not actually announcing one -- can certainly help, because it can put the fear of God into speculators who are driving the price up. One has to keep in mind that, with about 313 Million in population out of about 7 Billion people in the world -- about 4.5% -- the U.S. is consuming over 20% of the world's petroleum. That's about 21 Million barrels a day, of which we import about half. The idea of isolating our refined products from the rest of the world would mean refiners would have to jack up domestic prices to keep from losing money, because we are consuming less gasoline than we did. We need to find alternatives to burning gasoline and diesel fuel for transportation. One way is to use more trains and fewer cars and planes, because trains consume much less energy per passenger-mile. Another is to develop electric cars which are economically viable. It is important to remember that we are heavily dependent upon petroleum as a feedstock for our chemicals industry. I predict that we will see more trains, more electric cars and more cars, buses and trucks fueled by compressed natural gas, all within the next five years. It would also help if we considered adopting land-use planning similar to that one sees in Europe, where our ugly and prohibitively expensive (in social and environmental terms) urban and suburban sprawl would be reduced and public transportation improved so people would use it.