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Thursday, June 23, 2011

Even Carpe Diem Confused About Tapping the Strategic Petroleum Reserve

Link here.
Gasoline prices have been dropping steadily for the last six weeks, and the current price of $3.62 per gallon (national average) is the lowest in three months and almost 8% below the recent peak of close to $4 per gallon in early May (see chart above).  America's  stock of crude oil for the week ending June 17 was at the highest level (1.065 billion barrels) in more than four month since early February.  So what's the administration's "solution" to the "non-problems" of rising oil supplies and falling oil and gas prices?

Tap into America's "Strategic Petroleum Reserve" for 30 million barrels of oil, enough for about 36 hours of domestic consumption, while at the same time opposing any legislation that would allow greater access to domestic oil supplies.
It looks like everyone is confused. 

2 comments:

  1. Check the polls.

    http://www.realclearpolitics.com/epolls/other/president_obama_job_approval-1044.html


    anon 1

    ReplyDelete
  2. Thank you for taking time to comment. I probably went a bit overboard on all my posts today regarding the strategic petroleum reserve, but it made absolutely no sense, unless "they" know something we don't yet know....

    ReplyDelete

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