During a meeting between President Barack Obama and British Prime Minister David Cameron on Wednesday, the two world leaders discussed the idea of releasing emergency oil reserves, Reuters reports.
It is now being reported that the two have come to an agreement over the release of strategic oil stocks.
“A formal request from the United States to the UK to join forces in a release of oil from government-controlled reserves is expected ‘shortly’ following a meeting on Wednesday in Washington between President Barack Obama and Prime Minister David Cameron, who discussed the issue,” Reuters reports.
However, Reuters notes that tapping the SPR could “antagonize allies in Europe, several of whom remain unhappy over last year’s action and are unlikely to back another release,” according to the report.
CONTINUED: http://www.theblaze.com/stories/obama-cameron-talk-releasing-oil-reserves/
Strategic oil reserves are supposed to be for real emergencies, not so Obama can win political points and cover up his disasterous energy policies!
~Lynn
Showing posts with label oil reserves. Show all posts
Showing posts with label oil reserves. Show all posts
Thursday, March 15, 2012
Wednesday, July 6, 2011
Expert: Obama's Tapping of Oil Reserves Helped China More
China and other foreign markets likely benefited more than American drivers after President Obama tapped the U.S. Strategic Petroleum Reserve to relieve price pressure, according to US News and World Report.
"Yes, the government can reduce the price of oil by suddenly releasing 30 million barrels from our reserves, but it does not help the United States in any way. Even if it reduces the price of gasoline by 10 cents a gallon and saves the average consumer $6 a month, it does so over the entire world, not just in our country," says financial analyst David Marotta, president of Marotta Wealth Management in Charlottesville, Va.
"Oil is bought and sold on a world market," said Marotta in his memo to clients. "So long as a free market exists for oil, the market will price oil appropriately. And the only effect of releasing our oil reserves is to lower world oil prices."
CONTINUED: http://www.newsmax.com/Newsfront/oil-strategic-reserve-china/2011/07/05/id/402574?s=al&promo_code=C8EB-1
"Yes, the government can reduce the price of oil by suddenly releasing 30 million barrels from our reserves, but it does not help the United States in any way. Even if it reduces the price of gasoline by 10 cents a gallon and saves the average consumer $6 a month, it does so over the entire world, not just in our country," says financial analyst David Marotta, president of Marotta Wealth Management in Charlottesville, Va.
"Oil is bought and sold on a world market," said Marotta in his memo to clients. "So long as a free market exists for oil, the market will price oil appropriately. And the only effect of releasing our oil reserves is to lower world oil prices."
CONTINUED: http://www.newsmax.com/Newsfront/oil-strategic-reserve-china/2011/07/05/id/402574?s=al&promo_code=C8EB-1
Friday, September 3, 2010
ConservativeActionAlerts.com
Tea Party Turning Into A Tidal Wave
Written by CAA Opinion on September 02, 2010, 05:18 PM
http://conservativeactionalerts.com/blog_post/show/997
The defeat of Alaska's Lisa Murkowski by a little-known conservative lawyer is the latest evidence of a tidal wave building that may sweep aside an out-of-touch establishment. "We the people" won't be ignored.
Shays' Rebellion, an uprising of 1,200 farmers led by one Daniel Shays, angry over conditions in Massachusetts in 1786, prompted Thomas Jefferson to write to James Madison that "a little rebellion now and then is a good thing" for America.
A more peaceful rebellion is now occurring across the country, and we believe it's a good thing for America. Considering the excesses of this administration and Congress and their abuse of power to the point of ignoring the Constitution itself, it's also a very necessary thing, an idea whose time has come.
With her concession, Sen. Murkowski became the third incumbent to bite the political dust this season, joining Utah Sen. Bob Bennett and Pennsylvania party switcher Arlen Specter. The old argument about seniority and influence no longer flies among voters who increasingly believe, as Jefferson did, that government is best which governs least.
Joe Miller, a 43-year-old Yale-educated lawyer, West Point graduate and Gulf War veteran, was a little-known Fairbanks attorney before he was endorsed by Sarah Palin and the Tea Party Express.
The former Alaska governor and vice presidential candidate, who knows a little about shaking up the establishment, has become a political power, riding and leading a wave of political discontent with the country's current direction that manifested itself last Saturday at Glenn Beck's "Restore Honor" rally on the National Mall. Palin is woman, hear her roar.
Miller called for slashing federal spending while running for office in a state where federal money plays a huge role in driving the economy. As has happened around the country, the people are telling their government: Don't help us anymore; we can't afford it.
Murkowski was seen by the Tea Party Express as being on the side of big government. Miller targeted her for her support of the Troubled Assets Relief Program (TARP), a vote Murkowski said she came to regret.
Certainly energy-rich Alaska has fallen victim to the administration's war on fossil fuels. Vast oil reserves remain locked up in the Arctic National Wildlife Refuge, though a tiny portion only the size of Reagan National Airport in Washington would need to be developed. Murkowski was the most senior Republican on the Senate Energy and Natural Resources Committee, but it didn't seem to help.
Offshore reserves in the Chukchi Sea have similarly been placed off-limits in the name of protecting a polar bear population that is thriving and not endangered. Miller has said he would work to get more federal lands into state hands where it can be developed. Saving the earth can wait; saving our jobs comes first.
Murkowski was a state legislator when she was appointed by her father, Frank Murkowski, in 2002 to the Senate seat he was giving up to become governor. Miller and the Tea Party Express called the Murkowskis a royal dynasty that had to go.
Voters have had enough with political dynasties and virtual lifetime tenure for incumbents, and Alaskans decided there was no more a "Murkowski seat" than there was a "Kennedy seat" in Massachusetts, where Scott Brown produced a similar upset.
America was born through a popular uprising that didn't like taxation without representation. It may be reborn from an aroused people unhappy with both their taxation and their representation.
Written by CAA Opinion on September 02, 2010, 05:18 PM
http://conservativeactionalerts.com/blog_post/show/997
The defeat of Alaska's Lisa Murkowski by a little-known conservative lawyer is the latest evidence of a tidal wave building that may sweep aside an out-of-touch establishment. "We the people" won't be ignored.
Shays' Rebellion, an uprising of 1,200 farmers led by one Daniel Shays, angry over conditions in Massachusetts in 1786, prompted Thomas Jefferson to write to James Madison that "a little rebellion now and then is a good thing" for America.
A more peaceful rebellion is now occurring across the country, and we believe it's a good thing for America. Considering the excesses of this administration and Congress and their abuse of power to the point of ignoring the Constitution itself, it's also a very necessary thing, an idea whose time has come.
With her concession, Sen. Murkowski became the third incumbent to bite the political dust this season, joining Utah Sen. Bob Bennett and Pennsylvania party switcher Arlen Specter. The old argument about seniority and influence no longer flies among voters who increasingly believe, as Jefferson did, that government is best which governs least.
Joe Miller, a 43-year-old Yale-educated lawyer, West Point graduate and Gulf War veteran, was a little-known Fairbanks attorney before he was endorsed by Sarah Palin and the Tea Party Express.
The former Alaska governor and vice presidential candidate, who knows a little about shaking up the establishment, has become a political power, riding and leading a wave of political discontent with the country's current direction that manifested itself last Saturday at Glenn Beck's "Restore Honor" rally on the National Mall. Palin is woman, hear her roar.
Miller called for slashing federal spending while running for office in a state where federal money plays a huge role in driving the economy. As has happened around the country, the people are telling their government: Don't help us anymore; we can't afford it.
Murkowski was seen by the Tea Party Express as being on the side of big government. Miller targeted her for her support of the Troubled Assets Relief Program (TARP), a vote Murkowski said she came to regret.
Certainly energy-rich Alaska has fallen victim to the administration's war on fossil fuels. Vast oil reserves remain locked up in the Arctic National Wildlife Refuge, though a tiny portion only the size of Reagan National Airport in Washington would need to be developed. Murkowski was the most senior Republican on the Senate Energy and Natural Resources Committee, but it didn't seem to help.
Offshore reserves in the Chukchi Sea have similarly been placed off-limits in the name of protecting a polar bear population that is thriving and not endangered. Miller has said he would work to get more federal lands into state hands where it can be developed. Saving the earth can wait; saving our jobs comes first.
Murkowski was a state legislator when she was appointed by her father, Frank Murkowski, in 2002 to the Senate seat he was giving up to become governor. Miller and the Tea Party Express called the Murkowskis a royal dynasty that had to go.
Voters have had enough with political dynasties and virtual lifetime tenure for incumbents, and Alaskans decided there was no more a "Murkowski seat" than there was a "Kennedy seat" in Massachusetts, where Scott Brown produced a similar upset.
America was born through a popular uprising that didn't like taxation without representation. It may be reborn from an aroused people unhappy with both their taxation and their representation.
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