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Obama: Tap U.S. oil reserves to lower gas prices

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In a reversal, Barack Obama is proposing tapping the United States' strategic oil reserves to help drive down gasoline prices, his campaign said Monday.

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{"commentId":2367206,"authorDomain":"valwayne"}

Typical Obama.........of the little experience & time he has in the senate he has spent it opposing development of our domestic oil resources & nuclear power which has driven the price of gas to $4 a gallong. However, in the last few weeks he's decided he's on the losing end of the argument. So what does he do? He suggest we release 1 weeks oil supply from our emergency reserve so he can be seen doing something while he has Nancy Pelosi block any real action in the House. This is the most disgusting short term flip flop yet. Worthless for addressing our real energy needs and totally devoid of any core convictions or pricinpals. Disgusting!

{"commentId":2367206,"threadId":"325505","contentId":"1719658","authorDomain":"valwayne"}
  • 2 votes
Reply#201 - Tue Aug 5, 2008 1:38 AM EDT
{"commentId":2367257,"authorDomain":"cswharton2001"}

Obama, Pelosi and the rest of the house are playing games with the American publics livelihood!!

Bush needs to force them back from their 6 week paid vacations and if they don't show.........hold them in contempt!

{"commentId":2367257,"threadId":"325505","contentId":"1719658","authorDomain":"cswharton2001"}
    #201.1 - Tue Aug 5, 2008 1:54 AM EDT
    Reply
    {"commentId":2367324,"authorDomain":"TreHutch"}

    Obama claiming to fix the loophole, which allows speculators to drive up the cost of oil through futures contracts, is the only real reasonable solution to the oil price problem we are having now. It is the only reason we are having the problems now and fixing the loophole is the only way to fix it.

    a gas tax holiday will do nothing
    offshore drilling will do nothing

    and what Obama is doing now is trying to offer some sort of 'look good' plan of action to have something against Mccain's idiot ideas that seem reasonable to the public because most don't understand the real issue here and can latch on to false solutions such as those listed above.

    Obama has the real answer, and that is to close the loophole that is causing specs to escalate the prices. Why he is not marketing this and explaining it to the public is beyond me, but he should start sometime soon.

    {"commentId":2367324,"threadId":"325505","contentId":"1719658","authorDomain":"TreHutch"}
      Reply#202 - Tue Aug 5, 2008 2:11 AM EDT
      {"commentId":2367366,"authorDomain":"jodye"}

      -TreHutch

      Obama has the real answer, and that is to close the loophole that is causing specs to escalate the prices. Why he is not marketing this and explaining it to the public is beyond me, but he should start sometime soon.

      He's not marketing it because after he first brought it up he realized it can't be done. The only thing they can begin to do in that respect is block traders who are US citizens from buying these oil futures in bulk. US law can't do anything about the other dozens of countries that also buy oil on the global market which is not under American control. Not only that but you may want to also consider that some of the richest most powerful democrats and republicans in office have major ties to that oil and it's speculators.

      {"commentId":2367366,"threadId":"325505","contentId":"1719658","authorDomain":"jodye"}
        #202.1 - Tue Aug 5, 2008 2:22 AM EDT
        {"commentId":2369398,"authorDomain":"accrew4"}

        The reason is easy say George Soros, the Decorates poster boy. Soros's hedge fund was the number two investor in crude oil futures a few weeks back.

        {"commentId":2369398,"threadId":"325505","contentId":"1719658","authorDomain":"accrew4"}
          #202.2 - Tue Aug 5, 2008 10:52 AM EDT
          Reply
          {"commentId":2367344,"authorDomain":"maryle129"}

          I agree with most everyone who has commented here. Leave our reserves alone, because I don't
          believe that there are enough in US reserves to satisfy our population. They are so scarce, I think
          that even if they did come from our country, the prices would still be very high if not even higher. Remember the law of supply and demand! Our energy should be coming from Non-Petroleum sources
          very soon in the near future.

          {"commentId":2367344,"threadId":"325505","contentId":"1719658","authorDomain":"maryle129"}
            Reply#203 - Tue Aug 5, 2008 2:16 AM EDT
            {"commentId":2369155,"authorDomain":"rennellsr"}

            The squeaky wheel gets the oil, but NOT our reserves! Please leave them alone.
            Find other alternatives Obama to get votes.

            {"commentId":2369155,"threadId":"325505","contentId":"1719658","authorDomain":"rennellsr"}
            • 1 vote
            Reply#204 - Tue Aug 5, 2008 10:24 AM EDT
            {"commentId":2369334,"authorDomain":"kbd"}

            More pandering by Obama. He is really starting to disappoint me. The more he does this crap the more he looks like McCain and the less reason there is to vote for him.

            {"commentId":2369334,"threadId":"325505","contentId":"1719658","authorDomain":"kbd"}
            • 2 votes
            Reply#205 - Tue Aug 5, 2008 10:44 AM EDT
            {"commentId":2371775,"authorDomain":"tbendew"}

            Yes, the only difference is that McCain doesn't pander, and He does.

            {"commentId":2371775,"threadId":"325505","contentId":"1719658","authorDomain":"tbendew"}
              #205.1 - Tue Aug 5, 2008 2:54 PM EDT
              {"commentId":2373782,"authorDomain":"kbd"}
              Yes, the only difference is that McCain doesn't pander, and He does.

              That is a good one. What would you call the gas tax holiday?

              {"commentId":2373782,"threadId":"325505","contentId":"1719658","authorDomain":"kbd"}
              • 1 vote
              #205.2 - Tue Aug 5, 2008 6:01 PM EDT
              Reply
              {"commentId":2369474,"authorDomain":"crazypeppers"}

              Bush has used the reserves twice since he's been in office. Guess it's only ok for a Republican. Obama last month said he wouldn't use the reserve 'at this point'. That's hardly flip flopping.

              Drilling for oil isn't gonna do squat. But the illiterate American public are buying it hook. line. and sinker.

              {"commentId":2369474,"threadId":"325505","contentId":"1719658","authorDomain":"crazypeppers"}
                Reply#206 - Tue Aug 5, 2008 11:02 AM EDT
                {"commentId":2369719,"authorDomain":"jodye"}

                I recall the release from the reserves after Katrina but that was an emergency use while our gulf refineries and oil platforms were shut down from the hurricane. I don't recall a second time off the top of my head though do you know when it was?

                {"commentId":2369719,"threadId":"325505","contentId":"1719658","authorDomain":"jodye"}
                  #206.1 - Tue Aug 5, 2008 11:29 AM EDT
                  {"commentId":2369814,"authorDomain":"Profchaos"}

                  He used it after katrina because there was a supply disruption which is what it is for. What was the other? After sept 11, I would assume. And us going to war in the middle east also likely created supply disruption.

                  How is it not flip-flopping if he said he wouldn't use it 'at this point' but will use it now to lower prices? sounds like a contradiction to me. what makes it a flip-flop is that is a contradicts form last month. wouldn't it be a temproray fix like the gas tax holiday that he railed McCain for? (tax holiday is also a stupid idea)

                  Drilling our own oil gets us off foreign oil or at least it eases the pressure. It will do something.

                  {"commentId":2369814,"threadId":"325505","contentId":"1719658","authorDomain":"Profchaos"}
                    #206.2 - Tue Aug 5, 2008 11:39 AM EDT
                    {"commentId":2369873,"authorDomain":"jodye"}

                    Yeah probably was after 9-11 thanks for the info.

                    {"commentId":2369873,"threadId":"325505","contentId":"1719658","authorDomain":"jodye"}
                      #206.3 - Tue Aug 5, 2008 11:45 AM EDT
                      {"commentId":2370678,"authorDomain":"iamfrankblack"}

                      Bush has released oil from the reserves during times of supply disruption.

                      The information can be found on Wikipedia.com in the section on Strategic Petroleum Reserves:

                      *October 2002 - 296,000 barrels (47,100 m³) lent to Shell Pipeline Company in advance of Hurricane Lili.
                      *Placid Refining Company, Shell Oil Company, and Premcor after Hurricane Ivan.
                      * September-October 2005 - 9.8 million barrels (1,560,000 m³) lent to ExxonMobil, Placid Refining, Valero, BP, Marathon Oil, and Total S.A. after Hurricane Katrina.
                      *January-February 2006 -767 thousand barrels lent to Total Petrochemicals USA due to closure of the Sabine Neches ship channel to deep-draft vessels after a barge accident in the channel.[13]
                      *June 2006 - 750,000 barrels (119,000 m³) of sour crude lent to ConocoPhillips and Citgo due to the closure for several days of the Calcasieu Ship Channel caused by the release of a mixture of storm water and oil. Repaid in early October 2006.

                      {"commentId":2370678,"threadId":"325505","contentId":"1719658","authorDomain":"iamfrankblack"}
                      • 1 vote
                      #206.4 - Tue Aug 5, 2008 1:14 PM EDT
                      {"commentId":2371756,"authorDomain":"tbendew"}

                      Yes, you are right, it is not a flip flop. Two months ago, when the price of oild was more than 30% higher and the cost of gasoline was also much higher, it didn't make sense for Him to back releasing the reserves. Now that the price of oil has come down (thanks to Bush's waiving of the off-shore ban, now Congress should follow) He thinks it makes sense. It's not a flip flop, it just plain old pandering.

                      Change you can count on. All bow down and honor Him.

                      {"commentId":2371756,"threadId":"325505","contentId":"1719658","authorDomain":"tbendew"}
                        #206.5 - Tue Aug 5, 2008 2:53 PM EDT
                        {"commentId":2371887,"authorDomain":"rdoudna"}

                        Do you really care if he changed his mind? When did it become such a bad thing? Politicians should be listening to their constituents and they should be open to changing their minds. McCain was not for off shore drilling until recently himself (June 16th). He changed his mind. Big deal. The real question is, when you look at their respective plans, who has the better one? Personally I'm not a fan of off shore drilling because to me the cost far out ways the benefits derived. Obama's speech on energy yesterday is the most comprehensive plan put forth to date. McCain needs to answer this. His old tired line, "Just put air in your tires" to describe Obama's energy policy is not going to fly with independent voters nor is his line "we need to drill now" going to resonate for too long with independent voters -- drill now is not an energy policy.

                        {"commentId":2371887,"threadId":"325505","contentId":"1719658","authorDomain":"rdoudna"}
                          #206.6 - Tue Aug 5, 2008 3:07 PM EDT
                          Reply
                          {"commentId":2370245,"authorDomain":"hcossman"}
                          hlcDeleted
                          {"commentId":2370710,"authorDomain":"aconroy117"}

                          Obama is like wheat in the field, blowing whichever way the wind blows. He had everyone fooled with his soft manner and inspiring rhetoric, but now we see that all he is a pol, pure and simple. A good pol, but nonetheless no different than anyone else running for office. First you play to your base, than you play to the middle, than you play to the polls. Obama doesn't stand for change. His words say change, but that's as far as it goes. Where's the meat, the strategy, the plan? What does this man stand for? McCain used to be the real "change agent"; the true maverick. Now? What happened? Our citizens are so betrayed by the last almost 8 years of politicians stomping all over their constitution that they are looking for the savior. Well, it should have been McCain but he really is missing the message. What a missed opportunity. Hopefully, this cycle will shake out and the "best" man will be elected. Right now, who is the best man?

                          {"commentId":2370710,"threadId":"325505","contentId":"1719658","authorDomain":"aconroy117"}
                            Reply#208 - Tue Aug 5, 2008 1:18 PM EDT
                            {"commentId":2370731,"authorDomain":"jlp44"}

                            This is a typical example of a politician playing to the voters. Obama, like Hillary Clinton would/will say anything to get elected. Whereas McCain favors offshore exploration (China is preparing to drill off the Florida coast yet American companies cannot because they can't get approval from the buffoons in the democratic controlled congress) and increasing domestic drilling IN AREAS WE KNOW THERE IS OIL, Obama favors everyone getting tuneups and making sure their tires are properly inflated. Wow, there's a solution. I will be glad to check my tire pressure if Obama will just stand still. But if you don't like Obama's stand on tapping the federal reserves stick around, I am sure he will flip-flop on it too next week.

                            {"commentId":2370731,"threadId":"325505","contentId":"1719658","authorDomain":"jlp44"}
                              Reply#209 - Tue Aug 5, 2008 1:20 PM EDT
                              {"commentId":2370749,"authorDomain":"jlp44"}

                              This is a prime example of a politician telling the people what they want to hear. He as would Hillary Clinton will say anything to get elected. Whereas McCain proposes offshore drilling (China is preparing to drill off the Florida coast and yet American companies cannot because they can't get approval from Congress) and increasing domestic drilling IN AREAS WE KNOW THERE IS OIL, Obama talks about getting a tuneup for hina your vehicle and making sure your tires are properly inflated. Wow, there's a solution! But stick around, by next week Obama will reverse his opinion on this too.

                              {"commentId":2370749,"threadId":"325505","contentId":"1719658","authorDomain":"jlp44"}
                                Reply#210 - Tue Aug 5, 2008 1:22 PM EDT
                                {"commentId":2371291,"authorDomain":"rdoudna"}

                                Hic,

                                First Iran has no chance at closing the Straights of Hormuz. Do you honestly think a country like Iran could stand up to the US? Remember, we have the most powerful military in the world. We don't need to occupy a foreign land to bring about immediate change. Iran is the little chi wa wa, the US is the bit bull.

                                Second, drilling for more oil is not going to achieve energy independence. CNN, ABC, FOX and MSNBC have been citing government reports stating that the best we can hope for is perhaps a 3% increase in oil production. We currently import nearly 60% of our oil. Do the math. No, oil prices will continue to rise as world demand increases. We need to reduce our oil consumption, period. To suggest otherwise or to put off the obvious, is just plain insanity and dangerous.

                                By the way, releasing some of the oil reserves (which is really a swap) will lower the prices in the near term -- Clinton did it and the first Bush did it (18% reduction at the pump). This is not a long term solution.

                                {"commentId":2371291,"threadId":"325505","contentId":"1719658","authorDomain":"rdoudna"}
                                • 1 vote
                                Reply#211 - Tue Aug 5, 2008 2:03 PM EDT
                                {"commentId":2371400,"authorDomain":"getrealman"}

                                You are right its not a long term solution - it is a ploy to get votes and nothing else...

                                {"commentId":2371400,"threadId":"325505","contentId":"1719658","authorDomain":"getrealman"}
                                • 2 votes
                                #211.1 - Tue Aug 5, 2008 2:16 PM EDT
                                {"commentId":2371682,"authorDomain":"rdoudna"}

                                Get Real, I would not classify it as a ploy. Chances are just like the Bush(41) and Clinton years, it will work. But again only for a very short period of time. Obama has said this much himself. Is he trying to buy some votes, of course. Is the plan ridiculous like the gas tax holiday was? No, the oil companies had more control under the gas tax holiday plan. Actually given that the cost of oil is going down (has been for the last couple of weeks), a little push from us might accelerate the fall in prices pump. In any event, this is not Obama's long term solution.

                                {"commentId":2371682,"threadId":"325505","contentId":"1719658","authorDomain":"rdoudna"}
                                  #211.2 - Tue Aug 5, 2008 2:45 PM EDT
                                  Reply
                                  {"commentId":2371385,"authorDomain":"getrealman"}

                                  So folks did this Flip Flop help Obama in the polls? Personally I think letting his gray hair show might be more affective...if it is real that is... However, I don't know how long the "super star" will allow himself to look old...

                                  {"commentId":2371385,"threadId":"325505","contentId":"1719658","authorDomain":"getrealman"}
                                  • 2 votes
                                  Reply#212 - Tue Aug 5, 2008 2:13 PM EDT
                                  {"commentId":2371721,"authorDomain":"tbendew"}

                                  Who do you think He is pandering to now?

                                  {"commentId":2371721,"threadId":"325505","contentId":"1719658","authorDomain":"tbendew"}
                                  • 1 vote
                                  Reply#213 - Tue Aug 5, 2008 2:49 PM EDT
                                  {"commentId":2372121,"authorDomain":"gsf67"}

                                  This only confirms what we already know. Obama is a total idiot.

                                  {"commentId":2372121,"threadId":"325505","contentId":"1719658","authorDomain":"gsf67"}
                                  • 1 vote
                                  Reply#214 - Tue Aug 5, 2008 3:30 PM EDT
                                  {"commentId":2372432,"authorDomain":"wgtodd"}

                                  NO NO NO :tapping the United States' strategic oil reserves : STRATEGIC OIL RESERVES:
                                  no tapping its RESERVES and would cost 2.5 more money to replace: MY MOM SENT ME THIS EMAIL IT FREAKED ME OUT :
                                  Obama The Patriot - Removes American Flag From His Plane The Patriot Room Posted on Tuesday, July 22, 2008 8:11:07 AM by Bill Dupray Barack Obama recently finished a $500,000 total overhaul of his 757. And as part of the new design, he decided to remove the American flag from the tail...
                                  What American running for President of the United States would remove the symbol of his country? And worse, he replaced the flag with it with a symbol of himself Please foward this on if you're not ashamed of your country or it's flag & think this is a disgrace! Notice the whole tail is painted black. look at his plane is this for real???????

                                  {"commentId":2372432,"threadId":"325505","contentId":"1719658","authorDomain":"wgtodd"}
                                    Reply#215 - Tue Aug 5, 2008 3:55 PM EDT
                                    {"commentId":2373773,"authorDomain":"wocks"}

                                    THE RIGHT WING REPUBLICAN! THIS IS FOR ALL OF YOU, JUST ABOUT 75-85 OF THIS COUNTRY DO NOT HAVE A CERTAIN FUTURE, ABOUT HALF OF THEM MYSELF INCLUDED WOULD FALL UNDER THE POVERTY LINE, AND IF THAT'S NOT EMERGENCY SITUATION THEN MCCAIN DONT REALLY WANT TO FIND A SOLUTION FOR OUR ENERGY TROUBLE. WHAT'S WRONG WITH GETTING 70 MILLION OUT OF 707 MILLION BARRELS OF GAS IN OUR OWN RESERVE? BETTER YET IF MCCAIN IS REALLY SERIOUS ABOUT HELPING, HE SHOULD SAY, LETS GET THAT 70 MILLION BARRELS AND REPLACE LATER WITH WHAT WE'RE GOING TO GET FROM DRILLING THAT WAY WE SOLVE THE PROBLEM NOW AND WE WOULD STILL HAVE THE RESERVE. DONT YOU ALL SEE THING THROUGH POLITICIANS, LOOK AT THINGS THROUGH THE VERY POOR OF AMERICA AND THEN TRY TO SOLVE IT.

                                    {"commentId":2373773,"threadId":"325505","contentId":"1719658","authorDomain":"wocks"}
                                      Reply#216 - Tue Aug 5, 2008 6:00 PM EDT
                                      {"commentId":2374748,"authorDomain":"optimismrachel"}

                                      I lived in my car, hopping from place to place to shower for almost a year.

                                      I'm a registered republican.

                                      NEXT

                                      {"commentId":2374748,"threadId":"325505","contentId":"1719658","authorDomain":"optimismrachel"}
                                        #216.1 - Tue Aug 5, 2008 8:14 PM EDT
                                        {"commentId":2377001,"authorDomain":"wocks"}

                                        you maybe living in your car for whatever reason, however, there are real people with family to support and they're having serious problem making it day by day, you want them to wait for Mccain's plan of drilling that may or may not come in 10 years? I GUESS WE ARE ALL "WHINERS TO YOU PEOPLE HUH?

                                        {"commentId":2377001,"threadId":"325505","contentId":"1719658","authorDomain":"wocks"}
                                          #216.2 - Wed Aug 6, 2008 2:15 AM EDT
                                          Reply
                                          {"commentId":2374418,"authorDomain":"benjaminstraight"}

                                          Didn't President Bush do this post Katrina?

                                          {"commentId":2374418,"threadId":"325505","contentId":"1719658","authorDomain":"benjaminstraight"}
                                            Reply#217 - Tue Aug 5, 2008 7:31 PM EDT
                                            {"commentId":2379407,"authorDomain":"kbd"}
                                            Didn't President Bush do this post Katrina

                                            Just because GWB did it doesn't make it a good idea.

                                            {"commentId":2379407,"threadId":"325505","contentId":"1719658","authorDomain":"kbd"}
                                            • 2 votes
                                            #217.1 - Wed Aug 6, 2008 11:06 AM EDT
                                            Reply
                                            {"commentId":2379163,"authorDomain":"tableofwisdom"}

                                            August 6, 2008 Obama's Energy Plan Raises Serious Practicality Questions by MrArbitrage "In regard to Obama's energy plan, there are some practical questions that need to be addressed:"

                                            (continued) at BlackJFK dot com

                                            Click tab "Daily: Quick Thoughts"

                                            {"commentId":2379163,"threadId":"325505","contentId":"1719658","authorDomain":"tableofwisdom"}
                                              Reply#218 - Wed Aug 6, 2008 10:45 AM EDT
                                              {"commentId":2379743,"authorDomain":"ljshelhamer"}

                                              Oh really. Let's all brag up our own site - NOT. I suggest that we not allow people to endorse other sites. It allows unsolicited advertising and uncensored comments to run rampant.

                                              {"commentId":2379743,"threadId":"325505","contentId":"1719658","authorDomain":"ljshelhamer"}
                                              • 2 votes
                                              #218.1 - Wed Aug 6, 2008 11:35 AM EDT
                                              {"commentId":2379939,"authorDomain":"martvol"}

                                              No.2 for NEWVINE-Code of honor

                                              Newsvine's primary purpose is to provide a place for people to share and discuss topics relating to the news. Self-promotion, seeding links to your own site(s), and advertising are not allowed. More + Posting full articles (using the "Write Article" feature) that also appear on your blog or web site is acceptable but seeding your own stuff is not. Do not seed links to any sites you're affiliated with. Posting links to drive traffic elsewhere for personal or financial gain is prohibited.
                                              {"commentId":2379939,"threadId":"325505","contentId":"1719658","authorDomain":"martvol"}
                                              • 1 vote
                                              #218.2 - Wed Aug 6, 2008 11:50 AM EDT
                                              {"commentId":2380440,"authorDomain":"martvol"}

                                              Dang, messed up the by line.

                                              Rule No. 2 NEWSVINE Code of Honor

                                              {"commentId":2380440,"threadId":"325505","contentId":"1719658","authorDomain":"martvol"}
                                              • 1 vote
                                              #218.3 - Wed Aug 6, 2008 12:36 PM EDT
                                              {"commentId":2381488,"authorDomain":"ljshelhamer"}

                                              Thank you!

                                              {"commentId":2381488,"threadId":"325505","contentId":"1719658","authorDomain":"ljshelhamer"}
                                                #218.4 - Wed Aug 6, 2008 1:54 PM EDT
                                                Reply
                                                {"commentId":2381880,"authorDomain":"jandr"}

                                                Obama argues it's the old politics which has created the problem. However, Obama has done little to solve the probelm since going to Washington. If Obama claims he is a fresh and new face just establishing his political policy in D.C. then it is the same as saying he does not have the experience to navigate the D.C. matrix. Thus, I can only surmise, Obama a fresh and new face in the international arena has not the experience necessary to effect change globally.

                                                {"commentId":2381880,"threadId":"325505","contentId":"1719658","authorDomain":"jandr"}
                                                  Reply#219 - Wed Aug 6, 2008 2:23 PM EDT
                                                  {"commentId":2387441,"authorDomain":"healthh"}

                                                  Obama knows how to fool people. He needs to go to school again for Economics 101. Oil reserves are needed in case of emergency, act of terror. Sell this cheap oil in the market and then fill it up with expensive oil. Postpone the problems for a few months and win elections and leave US vulnerable to more foreign black mail. Let us all increase every source of energy, oil, coal, nuclear, sun, wind and conserve energy, electrical cars, hybrid cars. We can all do it. Need the will. Leave it American ingenuity and the make your American Idols who solve problems not radical politicians.

                                                  {"commentId":2387441,"threadId":"325505","contentId":"1719658","authorDomain":"healthh"}
                                                  • 1 vote
                                                  Reply#220 - Thu Aug 7, 2008 2:09 AM EDT
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