Washington – White House: Oil Reserves Eyed As Oil Prices Rise


    Washington – President Barack Obama’s chief of staff says the administration is looking at the nation’s oil reserves as it considers options for dealing with the spike in gas prices.

    The price of a barrel of oil has passed $100. In the U.S., gasoline is averaging $3.50 a gallon.

    Those increases come amid unrest in the oil-producing Middle East, particularly as rebellion rages in Libya.

    White House chief of staff William Daley tells NBC’s “Meet the Press” that all options are being considered for a short-term response to rising oil prices.

    At times the government has tapped the Strategic Petroleum Reserve emergency supply to stabilize prices. The reserve contains 727 million barrels of oil.

    Daley says officials are concerned about the impact of oil prices on the fragile economic recovery

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    1. More of the same.

      We need to drill here and drill NOW.

      I turned on the radio this morning and heard someone on Deface The Nation saying that we should pay FOUR DOLLARS a gallon and if the price was lower, there should be a tax to bring gas up to $4!!!! He wants this in place by 2012 so we should “conserve” fuel and have a few months to get used to it.

      We can’t just ban gasoline/oil without having an alternative. We need to be open to all forms of “fuel” and we need the time to develop it to perfection. Right now everything runs on gasoline so it would be asinine to ban gasoline.

      We need to fight back against the environmentalist wackos who are refusing growth in this country.

      We need to DRILL HERE & DRILL NOW so we could SAVE MONEY.

      • The only way we will have significantly more oil production in the US is with substantially higher energy prices. All the cheap oil has already been taken out of the ground.

        Watch out for your wallet; Mark Levin’s allies in the energy industry have their hands picking your pocket already. But that is what the Republicans are about today — fleecing the poor and middle class at the expense of special interests.

    2. #2 a little knowledge will go for in your case alsaka has large untapped reserves, as does the pacific ocean and the gulf of mexico known reserves would put the US in as a producer if you add the tar sands we have more oil available then all of the mid east unfortunately the dems have refuse to allow drilling preferring that we pay thru the nose like europe by driving oil prices higher it makes alternative energy look cheaper and we make more in taxes to subsides green energy

    3. This action shows that the administration is fundamentally unserious about energy or the broader economy. The SPR was initiated as an emergency pool in case of supply disruption. If supplies are not disrupted, only inconveniently expensive, the SPR should be left alone. Now, if the entire ME cauldron boils over and the black stuff stops completely that is a different matter. We are not there yet.

      Meanwhile, producing as much local energy as possible from all available sources will involve huge private sector investments lasting decades, produce millions of high-paying, highly skilled jobs and produce $trillions in “new revenue” for public coffers. Also, this will improve our balance of trade and strengthen the dollar making goods cheaper everywhere.

      Watch out for your wallet; The Green Lobby and their allies on the left have their hands picking your pocket already. But that is what the Democrats are about today — fleecing the poor and middle class at the expense of special interests.

      There, FTFY.

    4. You guys are hysterical! You have all the answers to the geopolitical problems that we and the rest of the world face, and know who is causing higher gas and oil prices and why. You know how profitable it is to, for instance, get oil out of the huge oily sand reserves.

      Did any of you go to school and actually learn anything about this stuff? Your views are uneducated and unfounded. It sounds like you learned your facts from the shabbos kiddush table in shul.

      Why don’t you publicize your opinions a little more widely? If there were any truth to them, you would get tremendous support from the public and private sectors to get those selfish meanies out of the way of our getting cheaper gas. It would also mean cheaper food, cheaper clothing, cheaper everything, and you would no doubt win a Nobel Prize.

      Don’t be so stingy by just letting VIN readers know these secrets. Share them with the world!


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