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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
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Obama administration coy on possibility of tapping oil reserve as gas prices rise Back to Topics
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Hobby001
Champion Author Michigan

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Message Posted: Mar 30, 2012 3:44:20 PM

It's a good thing that W filled it.
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golftellowcat
Champion Author Ottawa

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Message Posted: Mar 4, 2012 6:29:24 PM

Not good idea
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honda0105
Champion Author Tallahassee

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Message Posted: Mar 1, 2012 6:03:15 AM

gnu: sad, but true.
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kbierley
Champion Author Dayton

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Message Posted: Feb 29, 2012 2:08:31 PM

"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

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drpepperTX
Champion Author Texas

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Message Posted: Feb 29, 2012 12:45:06 PM

Buzzzz....buzzzzzz :=}
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golftellowcat
Champion Author Ottawa

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Message Posted: Feb 29, 2012 11:45:15 AM

ok
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Gnusman53
Champion Author San Diego

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Message Posted: Feb 29, 2012 10:59:44 AM

poor soda doc....must believe all the phlegm spewed by the fake news minions...(grin)
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Gnusman53
Champion Author San Diego

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Message Posted: Feb 29, 2012 10:57:57 AM

All I said was get rid of the speculators...and the prices would drop...
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Gnusman53
Champion Author San Diego

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Message Posted: Feb 29, 2012 10:56:36 AM

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......
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dal1
Champion Author Illinois

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Message Posted: Feb 29, 2012 6:56:14 AM

govt needs to intervene; they do in everything else!
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honda0105
Champion Author Tallahassee

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Message Posted: Feb 29, 2012 6:10:25 AM

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.
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drpepperTX
Champion Author Texas

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Message Posted: Feb 28, 2012 11:45:46 PM

LOL, the gnu fly is hopped up on 'hopium' again! Off topic as usual! :=}
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Gnusman53
Champion Author San Diego

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Message Posted: Feb 28, 2012 4:17:28 PM

want lower gas prices? get rid of speculators NOW
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Gnusman53
Champion Author San Diego

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Message Posted: Feb 28, 2012 4:11:44 PM

I won't hold my breath though
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Gnusman53
Champion Author San Diego

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Message Posted: Feb 28, 2012 4:11:02 PM

perhaps one day, they may figure out that speculators are the biggest problem (not the only) with higher gas prices...
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Gnusman53
Champion Author San Diego

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Message Posted: Feb 28, 2012 4:09:42 PM

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)
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Gnusman53
Champion Author San Diego

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Message Posted: Feb 28, 2012 4:07:25 PM

still seems to be a covey of the clueless perched around here....
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SparkieMi
Champion Author Kalamazoo

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Message Posted: Feb 28, 2012 3:28:18 AM

What is the REAL reason for the high pump prices???? Not smoke and bells!!
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NHLiveFree
Champion Author New Hampshire

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Message Posted: Feb 28, 2012 1:13:32 AM


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.
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Dodge_Me
Champion Author Atlanta

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Message Posted: Feb 28, 2012 12:37:35 AM

Hmm
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abacus44
Champion Author Toms River

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Message Posted: Feb 28, 2012 12:09:54 AM

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
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TheeRedRam
Champion Author Hartford

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Message Posted: Feb 28, 2012 12:01:32 AM

.
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umitb
Champion Author Indianapolis

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Message Posted: Feb 28, 2012 12:01:17 AM

ok
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sydb7
Champion Author Atlanta

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Message Posted: Feb 27, 2012 11:58:16 PM

don't wait! use the spr - the 99% are being hurt!
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Throroughbred
Champion Author Cleveland

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Message Posted: Feb 27, 2012 11:58:08 PM

Obama is an idiot who knows so little he can not get out of his own way.
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Rockthecasbah1
Rookie Author Milwaukee

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Message Posted: Feb 27, 2012 11:57:19 PM

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? . . . .
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Kmankeith
All-Star Author Rhode Island

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Message Posted: Feb 27, 2012 11:57:19 PM

november cant come quick enough
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FastAndy
Champion Author Indianapolis

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Message Posted: Feb 27, 2012 11:53:12 PM

They all don't know what they are doing.
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LaVonneK
Champion Author Iowa

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Message Posted: Feb 27, 2012 11:51:24 PM

It sounds very short term.
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BCM1
Champion Author Pennsylvania

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Message Posted: Feb 27, 2012 11:50:27 PM

Tapping into it would be a bad idea.
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DEG
Champion Author Las Vegas

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Message Posted: Feb 27, 2012 11:44:24 PM

gsx, Geitner is a crook (tax cheat). And Obama is the worst president that this country has had in my lifetime.
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blazerbob91
Champion Author Milwaukee

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Message Posted: Feb 27, 2012 11:43:44 PM

Taping the SPR won't help.
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zeddieiv
Champion Author Columbia

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Message Posted: Feb 27, 2012 11:43:29 PM

Another dumb move!
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BoerneWatch
Champion Author San Antonio

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Message Posted: Feb 27, 2012 11:42:32 PM

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.
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DEG
Champion Author Las Vegas

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Message Posted: Feb 27, 2012 11:42:22 PM

Obama is fishing for votes and has no concern for the long term health of the country.
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speedys
Champion Author Utah

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Message Posted: Feb 27, 2012 11:41:27 PM

Obama is only using the ploy for votes.
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confetti
Veteran Author Tampa

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Message Posted: Feb 27, 2012 11:35:05 PM

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."
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ACTown
Champion Author Oregon

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Message Posted: Feb 27, 2012 11:32:21 PM

A Small short term help.
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darkknight1
Champion Author Winston-Salem

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Message Posted: Feb 27, 2012 11:28:57 PM

I don't think it would help much. There are better things that should have been done but weren't.
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Prodaddy
Champion Author Houston

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Message Posted: Feb 27, 2012 11:27:30 PM

How much do they think the price will drop??
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HYEgasCA
Champion Author Fresno

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Message Posted: Feb 27, 2012 11:27:18 PM

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!!
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woburnspotter2
Veteran Author Boston

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Message Posted: Feb 27, 2012 11:20:50 PM

Something to watch, I guess
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PoohMcGoo
Champion Author Alabama

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Message Posted: Feb 27, 2012 11:20:37 PM

Cuz they're enjoying these high gas prices.. their plan worked..
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mstearno
Champion Author Dayton

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Message Posted: Feb 27, 2012 11:20:36 PM

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
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Blue48
Champion Author Illinois

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Message Posted: Feb 27, 2012 11:18:58 PM

WHATEVER!
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mstearno
Champion Author Dayton

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Message Posted: Feb 27, 2012 11:18:07 PM

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
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Pumpz
Sophomore Author Boston

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Message Posted: Feb 27, 2012 11:17:01 PM

Nothing like raiding the rainy day fund for some temporary political shenanigans.
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mcmonsta
Champion Author Honolulu

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Message Posted: Feb 27, 2012 11:16:12 PM

just cut iran out...period. short term loss long term gain or we suffer forever
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skb69sa
Champion Author San Antonio

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Message Posted: Feb 27, 2012 11:16:07 PM

Bad move. Oil reserve is for emergency. Administration must do everything to stop speculations and control the gas price rather than tapping oil reserve.
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gxs
Champion Author New Hampshire

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Message Posted: Feb 27, 2012 11:14:26 PM

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.
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