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Obama Aide Says Using Petroleum Reserve Is an ‘Option’

CNN -- The Obama administration is monitoring oil markets and a release from the nation’s Strategic Petroleum Reserve remains “an option that is on the table” if prices rise or supply is disrupted, said Josh Earnest, a White House spokesman.

“The administration does carefully monitor the global oil market” because of its impact on the economy, Earnest said at a briefing today. No decision has been made and he refused to say whether there is active discussion about the reserve.

Oil has climbed 3.4 percent this week on concern that Israel will strike to delay Iran from producing nuclear weapons and as the United Nations Security Council conceded it couldn’t stem the violence in Syria. The U.S. got 16.4 percent of its imported oil from the Persian Gulf in 2011, according to Energy Department

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Submitted Aug 19, 2012 By: bar1035

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honda0105 Champion Author Tallahassee Posts:18,580 Points:1,605,520 Joined:Nov 2008	Message Posted: Aug 22, 2012 3:58:57 AM Ignore honda0105 Report Abuse Syc: we are already drilling a lot more. It's all about specutraitors, not supply and demand.
roadrunnin Champion Author Richmond Posts:1,742 Points:560,695 Joined:May 2008	Message Posted: Aug 21, 2012 1:56:51 PM Ignore roadrunnin Report Abuse why?
rjhenn Champion Author Des Moines Posts:22,414 Points:2,225,650 Joined:Aug 2005	Message Posted: Aug 20, 2012 2:51:41 PM Ignore rjhenn Report Abuse sydb7 - "release the SPR now!" Why? Try to provide an actual argument, rather than just an idiotic demand.
sydb7 Champion Author Atlanta Posts:3,537 Points:1,916,505 Joined:Mar 2003	Message Posted: Aug 20, 2012 11:46:03 AM Ignore sydb7 Report Abuse release the SPR now!
sparky808 Champion Author Honolulu Posts:2,976 Points:594,585 Joined:Sep 2011	Message Posted: Aug 20, 2012 11:20:38 AM Ignore sparky808 Report Abuse Drilling more is an option. The SPR is NOT an option.
SycamoreISU Champion Author Indiana Posts:1,040 Points:257,935 Joined:Jan 2012	Message Posted: Aug 20, 2012 8:07:53 AM Ignore SycamoreISU Report Abuse If we were allowed to drill our own oil, this wouldn't even be an issue.
tomok Champion Author Portland Posts:32,915 Points:2,341,510 Joined:Aug 2006	Message Posted: Aug 20, 2012 3:26:58 AM Ignore tomok Report Abuse No release from the SPR is necessary, a release will Not lower the cost of fuel at the pump and the reserves are needed for 'just in case' (Justin Case?). Whatever the size or shape of the vehicle, Produce and ‘Drive’ vehicles with high MPG, are very safe, reliable, have a ‘reasonable’ cost and a good ‘value’ for the money. Consider using other forms of less expensive transportation to lower your cost. The price of fuel at the pump is too high! 12/22/2012!
oas Champion Author Maryland Posts:4,210 Points:2,137,415 Joined:Feb 2005	Message Posted: Aug 19, 2012 10:48:53 PM Ignore oas Report Abuse A political option.
defiancegasman Champion Author Ohio Posts:7,069 Points:1,321,210 Joined:May 2006	Message Posted: Aug 19, 2012 10:12:11 PM Ignore defiancegasman Report Abuse We need to BURN the speculators!!
nru Champion Author Twin Cities Posts:1,715 Points:978,795 Joined:Feb 2006	Message Posted: Aug 19, 2012 10:10:11 PM Ignore nru Report Abuse Why - the Strategic Petroleum Reserve is for cases when we are at war and we get an oil supply disruption (see 1973) - it should not be viewed as an economic tool. Put the federal fleet on CNG (or at least hint you are going to do it) and the price of oil will go to the bottom in a hurry.
Wanda127 Champion Author Florida Posts:2,474 Points:910,905 Joined:May 2010	Message Posted: Aug 19, 2012 10:09:57 PM Ignore Wanda127 Report Abuse I'm with you granitestater. I believe those in the white house are trying to keep fear of not having enough fuel so the prices can be kept on the high side & they think we won't complain about renewal energy & solar energy cost.
rahcat Champion Author Grand Rapids Posts:2,448 Points:658,950 Joined:Jan 2010	Message Posted: Aug 19, 2012 10:03:56 PM Ignore rahcat Report Abuse How many votes will this buy?????
ManOfLeisureII Champion Author Philadelphia Posts:1,854 Points:450,900 Joined:Jan 2012	Message Posted: Aug 19, 2012 10:02:57 PM Ignore ManOfLeisureII Report Abuse Beeeg mistake.
GRUMPY55 Champion Author California Posts:1,619 Points:421,450 Joined:Oct 2011	Message Posted: Aug 19, 2012 10:01:58 PM Ignore GRUMPY55 Report Abuse ok
pgerassi Champion Author Milwaukee Posts:10,876 Points:2,127,605 Joined:Apr 2007	Message Posted: Aug 19, 2012 10:01:54 PM Ignore pgerassi Report Abuse OK
jem069 Champion Author Detroit Posts:2,518 Points:683,080 Joined:Jan 2011	Message Posted: Aug 19, 2012 10:01:12 PM Ignore jem069 Report Abuse Ok
toytech3 All-Star Author Chicago Posts:917 Points:610,820 Joined:Mar 2011	Message Posted: Aug 19, 2012 9:58:40 PM Ignore toytech3 Report Abuse Don't do it
mgune9 All-Star Author Dallas Posts:914 Points:200,395 Joined:Feb 2012	Message Posted: Aug 19, 2012 9:57:52 PM Ignore mgune9 Report Abuse bad option
jackster111 Champion Author North Carolina Posts:3,287 Points:421,335 Joined:Feb 2012	Message Posted: Aug 19, 2012 9:55:47 PM Ignore jackster111 Report Abuse okay
Bezalel Champion Author Oklahoma City Posts:12,078 Points:2,286,795 Joined:Oct 2006	Message Posted: Aug 19, 2012 9:54:51 PM Ignore Bezalel Report Abuse Read it here yesterday! -- True, beachmanglen
beachmanglen All-Star Author Tampa Posts:669 Points:491,950 Joined:Aug 2011	Message Posted: Aug 19, 2012 9:52:35 PM Ignore beachmanglen Report Abuse It's just a ploy for the election.
bonzoonfmb Champion Author Florida Posts:1,757 Points:640,400 Joined:Feb 2010	Message Posted: Aug 19, 2012 9:50:54 PM Ignore bonzoonfmb Report Abuse There is plenty of supply, just hold on to it now. TheHermit - The oil has been sitting underground for millions of years anyway.
Night Owl Champion Author Toronto Posts:7,530 Points:1,782,600 Joined:Jul 2004	Message Posted: Aug 19, 2012 9:50:32 PM Ignore Night Owl Report Abuse This was already done and it didn't do anything at all. President Obama has to go after the root cause -- greedy oil speculators. They need to be banned from trading oil futures.
Beaveronparade Champion Author Hartford Posts:2,096 Points:631,395 Joined:Mar 2011	Message Posted: Aug 19, 2012 9:49:25 PM Ignore Beaveronparade Report Abuse Bad idea! This is for real emergencies, like no oil available.
joeschmo12 Champion Author New York Posts:1,001 Points:301,715 Joined:Mar 2012	Message Posted: Aug 19, 2012 9:49:22 PM Ignore joeschmo12 Report Abuse go green
FuelOilOH Champion Author Cleveland Posts:2,837 Points:1,179,620 Joined:Oct 2007	Message Posted: Aug 19, 2012 9:48:52 PM Ignore FuelOilOH Report Abuse Sure, he's talking about it now when his term is about up. What a joke we put in office 4 years ago.
jrsva Champion Author Virginia Posts:9,830 Points:1,608,250 Joined:Jan 2006	Message Posted: Aug 19, 2012 9:48:35 PM Ignore jrsva Report Abuse The SPR is for emergencies. We are not in an emergency situation at this time.
tidalwave3 Champion Author Tallahassee Posts:1,294 Points:1,460,075 Joined:Jun 2008	Message Posted: Aug 19, 2012 9:47:41 PM Ignore tidalwave3 Report Abuse No understandin of what the Strtegic Reserves are for or doesn't care. Let US drill our own oil and use Canada's oil :/
oldiesman Champion Author New York Posts:6,407 Points:2,189,960 Joined:May 2006	Message Posted: Aug 19, 2012 9:44:06 PM Ignore oldiesman Report Abuse It's not going to get him votes!
TFowler513 Champion Author Memphis Posts:3,824 Points:1,409,635 Joined:Mar 2008	Message Posted: Aug 19, 2012 9:42:33 PM Ignore TFowler513 Report Abuse Just trying to buy votes and not thinking of the long term ramifications... or just doesn't care!!!
Chris46 Champion Author Dayton Posts:23,635 Points:2,077,565 Joined:Sep 2005	Message Posted: Aug 19, 2012 9:40:51 PM Ignore Chris46 Report Abuse What, for 2 or 3 weeks? What good is that going to do?
LCSTEELERBOB Champion Author Gary Posts:2,961 Points:720,030 Joined:Oct 2008	Message Posted: Aug 19, 2012 9:39:19 PM Ignore LCSTEELERBOB Report Abuse lets just do it and then the goverment can just tell oil to payback the reserve used
gumbyrex Champion Author Fresno Posts:3,276 Points:755,065 Joined:Mar 2011	Message Posted: Aug 19, 2012 9:38:31 PM Ignore gumbyrex Report Abuse What happens if there is a real emergency and the reserves have been drawn for non emergency political purpose. Will there be enough reserves remaining?
thepi All-Star Author Twin Cities Posts:745 Points:1,337,940 Joined:Nov 2001	Message Posted: Aug 19, 2012 9:38:13 PM Ignore thepi Report Abuse OMG! Obama Must Go!
bradley1969 Champion Author Wisconsin Posts:1,518 Points:327,330 Joined:Mar 2012	Message Posted: Aug 19, 2012 9:35:15 PM Ignore bradley1969 Report Abuse MAN I CAN'T WAIT TILL THAT IDIOT IS GONE!!!!
Is246 Champion Author Albuquerque Posts:1,005 Points:424,880 Joined:Apr 2011	Message Posted: Aug 19, 2012 9:29:37 PM Ignore Is246 Report Abuse This is a political move.
gmcgas Champion Author Atlanta Posts:5,932 Points:1,710,170 Joined:Mar 2004	Message Posted: Aug 19, 2012 9:27:35 PM Ignore gmcgas Report Abuse stupid
GatorGuy Champion Author Columbia Posts:2,220 Points:1,202,985 Joined:Jan 2009	Message Posted: Aug 19, 2012 9:26:55 PM Ignore GatorGuy Report Abuse I'll be looking into my options in November...
Hi1 Champion Author Ontario Posts:4,835 Points:1,720,610 Joined:Jun 2007	Message Posted: Aug 19, 2012 9:25:33 PM Ignore Hi1 Report Abuse Okay.
RevDrCBJ Veteran Author Ann Arbor Posts:363 Points:187,010 Joined:Jul 2011	Message Posted: Aug 19, 2012 9:25:20 PM Ignore RevDrCBJ Report Abuse hmm.
granitestater Champion Author New Hampshire Posts:8,800 Points:1,426,750 Joined:Oct 2008	Message Posted: Aug 19, 2012 9:25:19 PM Ignore granitestater Report Abuse Morons. There is a surplus of oil/gas on the market. Price is dictated more by fear than supply/demand these days. We can now export our surplus of natural gas. There is no longer an energy crisis. We can build enough nuclear and natural gas powered plants to supply our needs. But the powers that be would lose control over our lives if that happened...
jad1960 Champion Author Gary Posts:1,535 Points:399,875 Joined:Feb 2012	Message Posted: Aug 19, 2012 9:23:13 PM Ignore jad1960 Report Abuse Is this Obamas way of trying to win voters, not me vote him out.
Holly123 Champion Author Charlotte Posts:3,182 Points:786,210 Joined:Dec 2010	Message Posted: Aug 19, 2012 9:22:10 PM Ignore Holly123 Report Abuse Screw Obama.
farn1958 All-Star Author Twin Cities Posts:886 Points:183,385 Joined:Feb 2011	Message Posted: Aug 19, 2012 9:17:22 PM Ignore farn1958 Report Abuse using oil from the reserve is and always has been a very bad idea it has never worked in the past.
wayoung56 Champion Author Alabama Posts:2,780 Points:814,335 Joined:Oct 2006	Message Posted: Aug 19, 2012 9:16:29 PM Ignore wayoung56 Report Abuse More Obama bait and switch to confuse voters...
mobil1MN All-Star Author Minnesota Posts:664 Points:1,294,635 Joined:Sep 2007	Message Posted: Aug 19, 2012 9:15:38 PM Ignore mobil1MN Report Abuse pk
texashoudini Champion Author Austin Posts:2,615 Points:1,092,950 Joined:Jun 2009	Message Posted: Aug 19, 2012 9:15:38 PM Ignore texashoudini Report Abuse What a joke. That's not an option. Obama needs to take on the speculators. Will he? Of course not. Doesn't do anything to control the cost of gas and thus has people out of work and the economy going down.
matthwbar Champion Author Toledo Posts:4,043 Points:1,013,805 Joined:Jun 2007	Message Posted: Aug 19, 2012 9:14:30 PM Ignore matthwbar Report Abuse A stupid option...
nj2000ng Champion Author Houston Posts:1,507 Points:449,020 Joined:Jan 2010	Message Posted: Aug 19, 2012 9:13:08 PM Ignore nj2000ng Report Abuse Obama will say anything to win votes.
TheHermit Champion Author Maine Posts:3,404 Points:127,030 Joined:May 2012	Message Posted: Aug 19, 2012 9:07:40 PM Ignore TheHermit Report Abuse Maybe they need an excuse to rotate the old oil thats been sitting stored underground.