Home News White House: oil price a factor for tapping reserve News White House: oil price a factor for tapping reserve By Reuters - March 7, 2011 Share on Facebook Tweet on Twitter WASHINGTON (Reuters) – The White House said on Monday the price of oil was one factor — but not the only factor — that would be used when determining whether the United States will tap its strategic oil reserves. Read the full story. Share this:FacebookTwitterLinkedInEmailPrintGoogle Related RELATED ARTICLESMORE FROM AUTHOR News America’s terror list: Not much substance News Judge Roy Moore: Hypocrite, con man, liar Capitol Hillbillies Winners and losers in Republican tax bill 2 COMMENTS Nah Woody, it’s time for the government to dump oil they paid $140 bbl into the market so they can buy more back in the future at $150 bbl or more…! The Bushistas were boosting the Strategic Petroleum Reserve when oil was ramping up to the the $140 range against some Congressional criticism. Do you think they would have bought more when it cratered to $40 post the CDO debacle in 2008? Why should they? All they’re good for is squandering U.S. tax-debtor dollars and moving them into the MIC’s and the “oil patch’s” pockets. I’ve been writing and ranting for a number of years about our failing to soon failed government and not just on CHB/RR. Nothing seems to turn about. It’s continuously more of the same. We’re already failed as a nation and when the final event happens it will be like the “Hindenberg” at Lakehurst, N.J. bursting into flames and crashing to the ground while onlookers freak out in disbelief. What would people do if they found themselves in a vehicle with someone who went nuts and had an episode at the wheel while they were passengers. Hopefully the passenger in the front seat next to the ‘crazed one’ would reach over to turn off the engine then pull the key, throwing it into the back seat area or out the window; but no, everyone is still partying hearty while their “New Rome” virtually burns before their very eyes, but seemingly they are too blind, stupid or drugged out to see it; as the ‘driver’, our crimpol reps, takes them on a “Nantucket Sleigh Ride” to hell on earth…! Carl Nemo **== Don’t see it happening. That’s the military’s oil. They won’t let it loose for us peasants to consume. Besides, our oil levels are at all time record highs. More supply won’t change the rampant and out of control market speculators that are the reason for the high price. They aren’t dealing in reality to begin with. Comments are closed.