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  • Morning Bell: President Obama Abuses Nation's Oil Reserves

    When it comes to making bad energy policy decisions, President Obama is a pro. Yesterday was no exception when the Obama Administration announced it would release 30 million barrels of oil from the Strategic Petroleum Reserve (SPR). This is part of an agreement with the International Energy Agency (IEA) to put a total of 60 million barrels on the market in the next 30 days. Another 27 nations will make up the other half of the oil needed.

    President Obama and the IEA first explained this irresponsible action by noting a supply disruption as a result of the war in Libya. However, this disruption does not justify the depletion of the SPR, and the Administration doesn’t have the legal rationale, either. The White House slightly changed its tune late yesterday when Press Secretary Jay Carney told reporters it was meant as protection against increasing gas prices over the summer driving season.

    Clearly, President Obama is putting politics and polls ahead of responsible governance and a smart energy policy. Even The Washington Post’s editorial board agrees. This morning, in a scathing editorial entitled “The wrong reason for depleting the strategic oil reserve,” the Post argues the White House is likely more focused on a “political emergency” and “the government should not tap the reserve absent a genuine crisis.”

    So what is the Strategic Petroleum Reserve? The SPR is a national security inventory designed to protect the U.S. against a “severe energy supply disruption.” In order to use it, three conditions must be met:

    1. An emergency situation exists and there is a significant reduction in supply which is of significant scope and duration;
    2. A severe increase in the price of petroleum products has resulted from such emergency situation; and
    3. Such price increase is likely to cause a major adverse impact on the national economy.

    These conditions have not been met.

    Let’s also put the release of 30 million barrels in perspective. The entire global market uses more than 84 million barrels a day, and this action would supply only two million of those for 30 days. The President’s own Energy Information Administration (EIA) estimates that U.S. production in the Gulf has declined by 220,000 barrels a day since Obama’s moratorium (which still persists) began.

    The SPR has more than 726 million barrels of oil in reserve. It holds roughly 30 days’worth of total U.S. daily consumption, and the private sector holds another 30 days. According to international agreements, the U.S. is obligated to have in reserve 90 days’ worth of imported crude. Current public/private reserves make up roughly 115 days of import protection.

    Due to these obligations, the U.S. must replace any oil it releases, and according to the Energy Policy Act of 2005, it must do so expeditiously. Releasing the oil requires a strategy for replacing it as well.

    Libya—supposedly the source of the problem—produces roughly 1.5 million barrels a day, and most of that oil is delivered to Europe. Libyan production has been offline for almost three months without having a significant effect on already high oil prices. And most observers do not expect the Libyan crisis to end in 30 days. So is there a significant reduction in supply as a result of Libya? No.

    Congressman Ed Markey (D–MA), no stranger to irresponsible and costly energy policy, hailed the President’s decision, saying: “This is the one tool America has at her disposal to immediately help drive down prices at the pump.” Nothing could be further from the truth.

    The SPR is not a “tool.” The SPR is a national security asset that should remain protected against short-term political manipulation. President Obama has the ability to offer relief at the pump without sacrificing energy security.

    As Heritage energy expert Nick Loris points out:

    Releasing reserves now simply allows the Administration to avoid addressing the underlying problems with U.S. energy policy that exacerbate the market impact of global supply disruptions. The problem is that the Obama Administration is artificially constraining supply to the market by denying Americans access to domestic oil.

    In the past two years, President Obama shut down drilling in the Pacific and Atlantic Oceans and the Gulf of Mexico. The EIA estimates that oil production will decline significantly in 2011 and 2012. His Administration was so negligent in issuing drilling permits that the Department of Interior was held in contempt of federal court. The Environmental Protection Agency has imposed costly regulations on refiners, and the Administration has rejected agreements with Canada to open up less expensive crude supplies.

    If President Obama simply stopped being a roadblock, the U.S. would increase its energy supply, oil prices would decrease, and taxpayers would stop losing royalty revenue. The Gulf economy would rebound, and jobs would be created (or recreated). If Obama simply got out of the way.

    With gas prices soaring, unemployment remaining high, and a government spending crisis looming, President Obama is under pressure to turn one of these economic indicators positive. Stealing some political goodwill from the SPR will have that desired effect in the short term—and Administration officials hinted yesterday they may do it again. Unfortunately for the President, bad poll numbers are not one of the conditions necessary for a drawdown.

    Quick Hits

    • Yesterday, Charles Krauthammer accused the Obama Administration of “outright lawlessness“ by ignoring Congress’ rejection of the Dream Act.
    • In testimony, General David Petraeus admitted President Obama decided to pursue a “more aggressive“ withdrawal from Afghanistan than the military recommended.
    • At an LGBT fundraiser for his reelection, President Obama called for the repeal of the Defense of Marriage Act and signaled growing support for gay marriage.
    • The President told the 10th Mountain Division he was fortunate to personally give Jared Monti the Medal of Honor, “who actually came back and wasn’t receiving it posthumously.” Sergeant Monti was killed in action and was awarded the medal posthumously.
    • The American Medical Association continues to lose members as the physician group faces fallout from its support of Obamacare. Learn more in Scribe.
    Posted in Energy [slideshow_deploy]

    74 Responses to Morning Bell: President Obama Abuses Nation's Oil Reserves

    1. voteright2012 says:

      This is just QE3 in the form of ORR (Oil Reserve Release). We Conservatives can also play the Alphabet Soup Game.

    2. Robert says:

      In the Heritage world, where only the executive branch of government is responsible for anything, Obama did something – albeit misguided. What did Congress do? What did little johnny do? Nothing. Nothing on drilling; nothing on ANWR, nothing on offshore; nothing on Keystone pipeline; nothing on Obamacare; nothng on spending reductions; nothing on government waste; just simply nothing. Is Heritage content to sit and wait for another meaningless election?

      • Carl says:

        Robert, apparently you haven't noticed that Democrats control the Senate and anything the Republican controlled House suggests gets shut down. Also, Congress can't act alone and the President and the Senate told the House they would not budge on the issues you list. And I'm surprised you would bring up spending reduction since Republicans in the House are the only ones who have even come up with a plan, which the Democrat-controlled Senate shut down without presenting any other plan. Incredible that Liberals blame the Republicans in office now for issues not addressed by Democrats when they controlled both houses of Congress.

      • Beez says:

        Nothing is always better than the wrong thing. I wish the previous Congress had done NOTHING.

      • Beez says:

        Nothing is always better than the wrong thing. I wish the previous Congress had done NOTHING.

    3. chiefbuffalo says:

      BY law, the oil must be replaced and this will be at a great expense to the Nation, since oil today is near $100.00 per barrel. The oil in the reserve was purchased at less that $60.00 per barrel ,so where is the money to come from that is necessary to purchase the new oil at more than $40.00 per barrel over what was originally paid . Do not try to tell me that the government actually is going to make a profit on the old oil!!!!

      • John says:

        You're right. Obama will add to deficit when we have to pay a much higher cost to replace the oil. Also, this will ultimately drive pump prices higher when the Gov refills the SPR, since it will be taking away from the oil going to the refineries for consumers. Since the SPR oil is pumped out of the salt caverns by pumping water in, the water will have to be pumped out before the new oil can be pumped back in. This is a very expensive process. Another bad decision that will utimately raise pump prices and add to the deficit.

    4. Rick says:

      my question is what can be done to over ride this presidents irresponsible energy policy so we can get back to "reasonable" and "responsible" domestic oil drilling.

      • Robert says:

        Excellent question. My answer: Congress! We were told a bunch of lies last November about drill, baby, drill; making government smaller; repealing Obamacare; cutting spending; cutting waste etc…. etc…. etc… I am really tired (33 years tired) of republicans lying to me.

        • Bren in VA says:

          It seems to Me – Congress is NOTHING MORE than a FLOWER POT! IT just ~sits there & looks pretty! Our Congress is becoming Worthless, the Citzens are losing their voice – So just WHAT CAN ~ THE P E O P L E~! do now? IDK! But I sure am upset!

      • Eagle Tree says:

        My answer, vote Big Gov politicians out of office and that includes dear leader Obama. Plus, the American people need to wake up to reality.

    5. Casey says:

      US refinery capacity utilization at 85%. When additional US produced oil comes online, where will it be converted to usable gas???

      In addition to domestic sources of oil, we need domestic sources of refinery capacity.

    6. home4ed says:

      one would think that use of this reserve would require input or approval from congress and not just a decision by the president…Why use these reserves w/out first implementing a way to replace them – say….drilling on US soil?

    7. MJF in CT says:

      Mr. Obama has now officially shown that he is totally inept with this moronic action. He will not replace the oil from the reserves (as he is supposed to). This is another farce to show his idiot constituents that he is doing his job, when in reality, he has caused the problem by shutting down the Gulf oil production. Mr. Obama is turning America into a Third World country while Mrs. Obama is jaunting at our expense around the world. When is this gong to end?

    8. J.R. Schiller, Jr. says:

      Rory Cooper posts "COMMON SENSE" for all Americans !

      BRAVO !

    9. West Texan says:

      Well said "If Obama simply got out of the way." and " … bad poll numbers are not one of the conditions necessary for a drawdown." The latter not only applies to the SPR but also his decision to ignore ground commanders in Afghanistan. He's definitely an artificial president with his artificial agenda. This is the problem with big government social progressives. They live in a convenient world of fantasy. Too much Disney perception. Sorry, didn't mean to slam Micky Mouse.

    10. Ken Jarvis says:

      Obama TRIES TO HELP fix Problems.
      HF puts up RoadBlocks.
      Question for HF – How can HELP be a BAD THING?

      • Great Scott says:

        Some words ead like a school child and Obama's action are that of a school child. His and the Democrat policies have put Obama in a box as they denied another president, "who tried to help" the energy policy he sought in 2001. ANWR would have been on line in the last 10 years and without a detriment to any living thing. The oil drilling moratorium, the denial of new leases. to replace leases that did not pan out as the area would have been cost prohibitive to drill; not to mention the destroyed jobs , compounding a tragedy in the gulf – are those actions trying to help ? Obama drew from his campaign book when taking from the reserve. He knows a pres does not get reelected with $4.00 oil. He tried to help ? Yea he and his party established the problem and here he comes to "help"

      • Recce1 says:

        How has HF out up roadblocks? Are they a governmental agency, a part of Congress, or a union? Besides, the oil problem is partially part of Obama's making. He's the one who has effectively cut off oil exploration and increased production. Almost all the increase in oil production in the US recently is a result of Bush policies. I guess you never heard the phrase about being wary when the taxman comes in and says he's there just to help you.

    11. dean says:

      Where is our next Reagan? D.F

    12. Charlie says:

      Oh, please, just stop it… The authors knows nothing of the market and the underlying strategy. And this will work too. $90 has been seen for months now as the freefall point where speculators will bail. This nudge using the SPR is entirely justifoed to trigger a downward gas-price slide, which it will. 30 million is a drop in the bucket, but enough to scare the pants off the speculators who have single handedly driven the price of crude up. Good for the Admin even though I thoroughly dislike Obama in every other department.

    13. Casey says:

      US refinery capacity utilization at 85%. When additional US produced oil comes online, where will it be converted to usable gas???

    14. haddicus says:

      Why the heck is a 3% party (US) contributing half of the oil ? I'm tired of us contributing so much to the rest of the world, when our focus needs to be here! It's not like we are in major catastrophic debt or anything.

    15. Lloyd Scallan says:

      When are we going to realize Obama decisions are NOT by accident, inexperience, or naviete'. Obama is delibertately and maliciosly implementing policies to destroy this nation's economy. He is again lying and distorting the facts by using Libya as an excuse. The facts are only about 3% of U.S. crude supply comes form Libya. Again Obama is caught lying yet the main stream media says nothing. This is just more of Obama deceptions to improve his falling poll numbers, just in time for a Forth of July holiday pump price reduction. But more important to his efforts, causing us to spend money, that we don't have, to replace this 30 million barrels, at a much higher price per barrel cost That oil must come from overseas sources, due to the fact that Obama will not allow drilling here. Again, Obama is "spreading the wealth" by forcing us to buy from foreign sources that are controled by his own ideological ilk.

      • Patricia Bradley says:

        What is frustrating to me is the current imbalance of power among the three branches of government, with the executive branch ruling ruthlessly. What measures are being or must be taken to HALT the Executive Branch's strong-arm, "single decision-maker authority" while the Legislative Branch is left mostly to lamening these decisions? When and how did we allow our federal government's system of checks and balances to be so weakened?

    16. Mike the Bike says:

      The only good news I have about President Obama is that because of his blatant ineptness (which is now obvious even to his most ardent supporters of the past) that his political future is "toast".

    17. Skane says:

      At this point Obama could take action to reduce gas prices to under $1.00 and I still wouldn't vote for him. The amount of damage that he's done to our country in a scant 2 1/2 years will take at least 20 years to correct. And that's if we can convince the rest of our leaders to start fixing the problems now!

    18. Jeff D. says:

      Whether it's oil, weapons or money, has this president ever found a reserve too precious squander?

      With the present people in the senate who run things, I suppose there has been no point in attempting impeachment, but never was a man in that office ever so deserving of it.

      When sensible persons regain power in this country, there must be a bill crafted for the express purpose of explaining to the people, and disseminating the explanation, how we have reached this sorry point in our history. The press won't do it and I think it would be far more meaningful if it came from congress anyway. We need some frank talk in simple economic terms people understand with policy after policy — and the loopholes and failures in them which permitted the glossy reviews prior to enaction — so that we can both recover and avoid ever reaching this juncture again. The cost and consequences of the tax and "regulatory" policies which have exacerbated their failures must also be explained. Call it the "Conservatives's Little Red Book".

      If our nation survives this episode, constitution and its principles intact, it might not survive a second episode.

    19. 1 Dragon says:

      For the past few weeks, the price of oil has been coming down, so why now? Why not when the price was over $4 a gallon?

    20. 1 Dragon says:

      For the past few weeks, the price of oil has been coming down, so why now? Why not when the price was over $4 a gallon?

    21. toledofan says:

      No substance and this is just pure politics. Iread that when Clinton did this the average price of gas decreased by 1 cent, wow, that's really stimulating the downward price, but, the larger picture is that we don't have any comprehensive energy policy, other than to go green, so, the lying, cheating and do nothing continues. This is another glaring example of why the Democrats can't be trusted to run the government, the military or manage the economy., they have no clue or moral compass to guide them on what to do for America; it's all about them and getting re-elected.

    22. Rick says:

      This is just another example of this so called president his cabinet and staff how they can’t find a text book on what to do these people went to school read books but don’t have a clue what to do. What they do know is how to destroy this country and hurt the people who fight to keep it alive. They also know how to be greedy and power hungry. They are corrupt and who will suffer but our kids. I hope this so called president runs out of bandaids soon and finally gives n to those who know whaat to do before all is lost. Such a sad situation this administration has put us in. Our people suffer everyday from his lack of leadership. Hopefully next year will see him leave

    23. chiefbuffalo says:

      BY law, the oil used must be replaced by newly purchased oil on the open market. Where will the funds come from that will be used to purchase new oil? The oil now in the SPR was purchased at a price per barrel of $60.00 per barrel or less but now the replacement oil will cost near $100.00 per barrel or more. Do not tell me that the government will make a profit on the difference; therefore, it will be basically a swap in price difference.
      I agree that this is a political move on the part of the administration but again a selfish move, since it will have very little effect on the world oil market in the future since oil prices are driven by futures and not current conditions.
      But the American people are hungry for some relief and while this may be a short term "Crumb of bread" the truth is that it is all smoke and mirrors.

    24. Gail Funderburk says:

      Absolutely outrageous. We do not have a shortage of oil, but we do have a shortage of brains by the President. Oh, I forgot, his solution is to spread the weath and whatever he can get his hands on will be distributed to the masses. Wow, what a guy. I hope we survive until Nov. 2012,

    25. Judith in Michigan says:

      I'm sure this will not be the first "emergency" between now and election day to require releasing oil from the SPR. Is there a way for Congress to block this?
      There are many uninformed people who will think this is a grand idea, not realizing, nor caring, about the consequences. This is vote buying in the extreme. Our national security is becoming the real "Emergemcy".

    26. Viet Nam Vet 67-68 says:

      The weight of Obamanation's Stupidity is breaking the backs of the Middle Class, he and the New Communist Party are destroying this Country and his plan for spreading the wealth is working because so far the Middle Class in America has lost $10 TRILLION dollars of net wealth. What does it take to get the people in this Country to wake up and remove this ILLEGAL pesident he is not a Legal Citizen and his Birth Certificate proves he is not, his father was a British Citizen when this Asshole was born. Get him out of office and tried as a Traitor and all of his followers, hang them all.

    27. bludog says:

      the one thing that this action did prove: Just the news of more supply brings the price down.

      • Lloyd Scallan says:

        But for how long? You're right that "just the news" will decrease pump prices. Just imagine if Obama would allow us to again drill in the Gulf and other part of this country where estimated amounts of oil
        are between 100 to 400 years of supply. What wil that do to the pump price? But instead Obama and his lackeys want pump prices to equal "Europe's prices" which in turn will continue to destroy this

    28. Tammy says:

      This idiot doesn't know his head from a hole in the ground. The only reason he is releasing the oil from the SPR is to manipulate the price of oil because of his falling poll numbers. As a person who lives on the gulf coast and in Louisiana in particular and did so during and after Katrina – I do not think it is a good idea to put the well being of the citizens and the country at risk because of his poll numbers tanking. What will happen if there is some sort of disaster in this country and it becomes a necessity to pull from the SPR again – what will the idiot do then?

      It is time for Americans to wake and stop drinking that freaking Kool-Aid – this man has got to go! It is way past time!

    29. Tom Jackson says:

      What I would like to know is who purchased the SPR to begin with. Did the American tax payers pay for it and if so are we just paying for it again. And what do they plan to do with the procedes from the sale to the American people.

    30. KC - NM says:

      There is so much more than just Obama's poor decision on our oil supply that needs attention. This administration is destroying America. Consider the issues with our economy, a tax system that is broken and ineffective, our infrastructure that needs repair, our out-dated military, our poor results from education, our lack of control with illegal aliens entering our boarders, crime rates that are high, jobless issue, an entiltlement culture, etc. We do not have leadership in Washington and the "yes we can" has become true – yes we can and so he did – destruction of America and what it stands for!

      • snydrhrry says:

        KC-NM has covered the subject pretty well. BHO knows of the issues and is, if anything, working to worsen the situation. Can anyone fathom just what this guy's motives are?

    31. Jim Delaney says:

      You said it all.

      This president has got to be stopped before he successfully achieves his socialist, one-world goal of destroying our economy, what remains of our tattered Constitution and way ofl life–and what remains of our Republic.

      My view, which is shared by countless millions of others today, is that we are rapidly approaching a political crisis–a showdown between neo-Marxism on one hand and traditional American values on the other. We the People have been pushed to the proverbial wall, and there’s precious little wiggle room left. Liberty-loving Amercans are genuinely horrified and incensed by the political and economic evisceration this elitist and his Progressive minions have inflicted upon our country.

      Thank you, Heritage, for keeping us so well-informed.

      • Victor Barney says:

        Jim, He can't be stopped until the next election, not even impeached because he owns the Senate and Supreme Court, I believe! However, I fear the next election would be too late in the first place; and secondly, I'm not convinced that he will lose the women vote, who make up the overwelming majority of American voters? Watch!

        • KC - NM says:

          I agree – he needs to be stopped but consider the one sided media and Hollywood that seems to be able to get to the ears of many Americans. The word about how bad it really is has not been heard since the Republicans or Tea Party do not seem to be able to crack into the mainstream media. The polls even show him at sligthly less than 50% approval. What is wrong with American's? Are they too dumb to get it or are they just not informed about what is really going on?

        • Jim Delaney says:

          Impeachment doesn't require the Senate or Supreme Court. Conviction does. Impeachment by the House may actually serve as a shot across the bow, a means of slowing down his transformational efforts. Who knows. It might actually force a much overdue constitutional confrontation between Congress and the imperial White House.

    32. Ken says:

      right on the mark…As Always !!!

    33. Marilyn Burrows says:

      I wish I could say that this is just bad judgment on his part, but it's not. It's intentional. He (Obama) is trying to bring the USA to it's knees economically, politically, religiously and any other way he can think of. This is just another nail in the coffin. He is not FOR America – he is against it. It doesn't take a mental giant to figure that out.

    34. Kaydell Bowles says:

      Have not the American people waited enough years since 1970 when Congress and the Administration promised energy programs to make us independent from Middle East Oil? When the next crisis comes they trot out the next round of promises. Now we see for political purposes because of the programs the Democrats put in to place–shovel ready projects, Tarp stimulus; bailouts of the automobile companies; saving the union pensions and union money laundering; no foreign policy plans, no energy plans, a need to show the American people that this Administration is proactive.. Yup we withdraw from Afghansitan; we use oil from the strategic reserves that we will have to pay for to build up at higher prices than when we did it several years ago; a President that does not want to address his Spendin Policy and huge deficit; and now want another stimulus and a higher debt ceiling. We got the change he wanted–Socialist-Communism policies.

    35. The Farmer says:

      Taking oil from the reserves isn't the brightest thing one could do; but not many of those cridisizing doing it have any creditability on the issue!
      When the Republicans had control of the Government they did nothing to get us off dependence of oil from abroad either, the only ones who have a voice worth listening to is the freshmen class and one or two of those who were trying to get Bush off his duff and fix the problem three and four years ago!

    36. Dr. H.D. Sinopoli says:

      It's politics. stupid…Barry O. does not care about the strategic position of the U.S. – nor do the lifer Republicans or Democrats…all they care about is re-election. You can write all the papers in the world, they want money & public opinion to maintain their position.

    37. The Dauntless Conservative says:

      Democrats have consistenty blocked legislation for oil drilling and exploration. It has been documented quite well here:

    38. ckirkland says:

      This lastest action by obama should say it all about his continued destruction of the country some have fought & died for. What a shame and shame on him and the thugs he brought into this administration with him

    39. Bobbie says:

      What more credibility do you need other than being an American citizen informed the president is deciding to use strategic oil reserves that citizens understand are reserved for emergencies and defense purposes in the protection of this country, to artificially lower gas costs, when he could drill here, there and everywhere that would establish the growth in the free market economy and especially employment with business growth in a variety of ways. .

    40. Ellis W. Moses says:

      No surprise here. Just more campaigning as he has done since being elected.

    41. Dwana Townsend says:

      What ever happened to “Enumerated Powers”? Does the President have the POWER to make such a decision without consulting or gaining approval from Congress? I have noticed that this President dismisses this new Congress as if they are just a nuisance, fly in the ointment.

    42. Jeanne Stotler says:

      Oil went up .14 a barrel today, this was suppose to bring prices down, just like his health care , everything he touches is for distruction of this country, we would not have to take this if oil was drilled here, and the rigs that are standing idle in La. could have prevented this increase. Frm now until Nov. 0f 2012 we are going to see these stupid moves as BHO tries to save his job, and he doesn't give a fig about yours or mine while doing it.

    43. randydutton says:

      ALL Obama had to do was to declare we would drill in ANWR, remove the limits of drilling offshore, allow Shell to drill its already permitted tracts off Alaska, and get the State Department from blocking the oil slurry pipeline from Alberta.

      THAT would be a long-term fix. And that would signal industry that he was serious about job creation.

    44. Blair Franconia, NH says:

      It's an Obama ploy.

    45. sean says:

      We should not be surprised at all with this decision. Every time the mans poll numbers are in decline he does something that may be very stupid to try to revive them, this is just another example. When gas prices spiked oat over $4/gal is when this should have been done, but if I remember correctly his press secretary said there's not a chance in h*ll of that happening, so why now? Oh yeah, election season. It is up to each and every one of.us to be every bit as vigilant as the left is to get people to the polls in 2012 to make sure we bury the progressives in Washington once and for all and take the next steps in getting our country back. After all, if they're successful and can change our country into the socialist nation they so desire then we have no place else to go because we are the ONLY country of our kind on this planet.. The stakes are huge and we have a duty to come out and vote so we can change the path this man has taken us down..

    46. Chucke says:

      Just let the DRILLING BEGIN and we won't need the Middle East oil.

    47. carlos 51 says:

      It took GEORGE BUSH 3 years and 93 billions dollars to replenished the 800 millions of oil after BILL CLINTON sold our oil reserved just before he left office(2000) and distributed the proceeds to his pet projects
      I got the feeling that OBAMA will pull the same scam on the AMERICAN people.
      This is the same BILL CLINTON that passed a law in 1996 that exempted any foreign country from paying any ROYALTY as long they drilled deeper than 5000 feets (foreign companies pay taxes only in their country of origin) He in fact he gave our oil away,at that time only 8 rigs were drilling at that depht now we have 350 plus rigs drilling at that depht, no ROYALTIES on that oil and then we buy it back we can't even get away with that travesty in any BANANA REPUBLIC.

    48. Mike vermont says:

      Can or will the heritage foundation expose a fact behind high oil priced imposed by the President of the United States and his energy policy as a significant revenue source for this administration and states as the tax revenue rercived by many states and the Federal Government is a PERCENTAGE BASED tax that will decrease if they do the right thing. Vermonts revenue by percentage of taxis up significantly.

    49. Mike vermont says:

      Can or will the heritage foundation expose a fact behind high oil priced imposed by the President of the United States and his energy policy as a significant revenue source for this administration and states as the tax revenue rercived by many states and the Federal Government is a PERCENTAGE BASED tax that will decrease if they do the right thing. Vermonts revenue by percentage of tax on fuel is up significantly. How many elected officials are really willing to help their constituents by reducing the tax at the state level.The hardship being caused by the presidents spicificaly intentional actions Against his countryman and better minds advice represents an intentional political act. The Presedent understand the actions his administration now takes as a selfish political act for the apparent express purpose to make winners and losers in energy policy at the expense of his countryman. Is this administration really this machivelian? It has become obviously apparent ! Now what? The administration also appears to be getting away with it.

      A point of view from Vermont

    50. Joe Simo says:

      I'm a geologist with 40 yrs experience in oil exploration and production. Obama is releasing 30 million BO. Last I read the USA uses about 21 million BOPD. While running for election he steadfastly said numerous times this country needed to be energy independent. Well Duhhhh, BUT, we can't drill in the Arctic, Atlantic, Pacific and Gulf of Mexico. Sorry folks, maybe I've inhaled too much natural gas, oil fumes and diesel and have managed to lose a bunch of brain cells. Cause I don't understand. You know, if this weren't so serious, someone could produce a comedy. Comedian Chris Rock would play the presidential role.

    51. Mango says:

      He is doing exactly what he was put in office to do, take the US to it's knees. Unfortunately there are very few in Washington who are not of the same mind as the puppetmaster behind Obama. Unless more people who give a flip about true RESPONSIBLE freedom the world is lost. The power brokers will have won completely.

    52. Dave Boner says:

      Mr. Obama is wrong again! Why doesn't Heritage file a suit against the Federal Executive Branch? What is the IEA? Isn't that a UN committee? Then, ask them what they had in mind? I find it interesting that Mr. Obama jumps through hoops when the UN requests something. But, he can't even get his own Party to prepare a budget for three years plus! Obama apparently discovered in one of his legal classes that one of the most important action of a lawyer is to be able to put things off, and delay decisions until someone else takes care of the decision leaving the lawyer with little or no responsibility with the issue!

    53. ,margaret_ says:

      common sense is just about run out here thank s to obama

    54. Pingback: Morning Bell: Blame the Washington Bureaucracy for High Gas Prices

    55. Jeff says:

      Who will get rich once this decision goes into effect? I am leaning toward the friends of the President who will make a lot of money and we will all find this out down the road.

    56. DanJ1 says:

      This is a no brainer. That is you have to be brainless to think releasing oil from the SPR will make any difference other than politically.

      If you don't remember the release of millions of barrels last summer that's because it didn't. By the time Obama got around to announcing the release, fuel prices averaged $3.652. The average weekly price at the pump over the next three months was $3.639 ranging from $3.57 to over $3.71.

      Of course Obama and his media minions would argue that it would have been much worse had they not. And had we not spent $829 billion stimulus dollars, unemployment would have been much worse.

    57. Clifford Gatewood says:

      The President made the correct decision to release gas reserves. I think that those who have lots of money and prices don't matter to them disagree with this decision. Mostly because you live in fear of there not being enough. If there is a crisis you won't be able to get tthe gas anyway. It will first go to the military and government there won't be any remaining for you no matter what the price is. Think about buying gas tanks and putting them underground at you home, like at a gas station. Fill it up and then you won't worry so much about waht the President is doing. By the way when the last President was destroying our good way of life you were silent. Wowwwwwwwwwwwwwwwwww.

    58. Clifford Gatewood says:

      Since my views don't agree with your I'm sure it will not get published.

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