Under Bush, He announced more drilling and released oil from the SPR and gas prices dropped. Why wont Hussein?

Do the same?

8 Responses to “Under Bush, He announced more drilling and released oil from the SPR and gas prices dropped. Why wont Hussein?”

  1. Primo Says:

    Because under Obamas plan we all have to bend over and take it in the rear

  2. nostradamus02012 Says:

    because it won’t impact price.

    thanks.

  3. Baroccoli Says:

    Obama wants gas prices high. he’s said it, along with his energy secretary.

  4. John Doe Says:

    There is no shortage of oil. The price of oil is pegged to the dollar and the fed keeps printing money making it worth less and gas cost more dollars.

  5. SuperSoup Says:

    Because he doesn’t want gas prices to go down. He’s using it as an excuse to push green energy.

    If he ended the moratorium on gulf coast drilling and opened anwar to drilling and talked to the leaders of OPEC gas prices would fall quickly. But he wont because it helps his point.

  6. Soylent Obama Says:

    I don’t think he likes America much.

  7. mommanuke Says:

    Bush released gas from the SPR in 2005, after Katrina shut down many of the rigs. After that, prices continued to climb to a high in mid 2008 that Obama hasn’t reached yet. http://zfacts.com/p/35.html

    If you understood how the oil market worked, you would see why drilling more here would not change the price of gasoline one red cent. OPEC sets the prices, and local drilling has nothing to do with it. In addition, the US is third in total oil production, behind only Saudi Arabia and Russia. According to your fantasy, if we were number 2 our prices would be cheaper. They wouldn’t. The per barrel price would be the same, and Saudi Arabia and other OPEC countries would cut back to keep the production low. Just as they did last month in spite of high gasoline prices in the US. The real problem is, as usual, Wall Street, where oil speculators drive the price up by betting that there will be an increase in price. Stop that and you’ll drop gas prices.

    Keep pretending that it is all Obama’s fault and you will continue to cry at the pump.

  8. Paul Jackson Says:

    The SPR is for emergencies. I didn’t feel it was unreasonable when Bush did it because the surge in prices was caused by a catastrophe (Hurricane Katrina). The current increase in prices is very different. There is an oil GLUT right now, not a shortage. Low supplies are not the problem. The problem is that speculators have driven up the price in anticipation of lower supplies due to Middle East instability. As of yet this has not materialized. Opening the SPR would be a mistake.

    As for Bush "announcing more drilling". I don’t think that had a significance effect. The president does not control or dictate when, where, or how much oil the oil companies drill and pump.

    Once again I want to emphasize: THE CURRENT RISE IN PRICES HAS NOTHING TO DO WITH LOW OIL SUPPLIES.

    http://www.integrity-research.com/cms/2011/04/01/whats-behind-the-rise-in-oil-prices/