I guess in some twisted way this constitutes increased domestic production. President Obama is likely to tap into the Strategic Petroleum Reserve in order to combat the latest spike in gasoline prices.
The Obama administration is considering releasing oil from the Strategic Petroleum Reserve to help Americans facing a spike in oil prices as a result of unrest in the Middle East, Obama Chief of Staff William Daley said Sunday.
"The issue of the reserves is one we're considering. It is something that only is done -- and has been done in very rare occasions. There's a bunch of factors that have to be looked at. And it is just not the price," Daley said on NBC's "Meet the Press."
"I think there is no one who doubts that the uncertainty in the Middle East right now has caused these tremendous increases in the last number of weeks. ... All matters have to be on the table when you ... see the difficulty coming out of this economic crisis we're in and the fragility of it," he added.
Turmoil in the Middle East? How about Barry's green energy delusions that are keeping his offshore drilling ban in place. Could that have something to do with gas hitting $3.50 a gallon?
Maybe if we drilled for our own oil we wouldn't be so hamstrung by the never-ending "uncertainty" in the Middle East!
Meanwhile the Russians are moving in where Obama fears to drill. Right off the coast of Cuba, well within the Gulf of Mexico.
So we'll end up paying Vladmir Putin for oil we could have taken for ourselves.
Heckuva energy policy there Barry.
