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« Stirfry

What was the president thinking?

By Bertram de Souza (Contact)

Published March 18, 2012

Untitled document

President Obama used his Saturday radio address to urge Congress to kill tax breaks for the oil and gas industry and help develop alternative sources of energy. As he spoke, Americans around the country were at gas stations suffering from sticker shock. Indeed, on Friday, gasoline prices climbed above $5 a gallon in downtown Los Angeles.

Talk about a disconnection between the White House and Main Street America. People whose wallets are being emptied at the pump don’t want to hear some esoteric discussion about the $4 billion in tax subsidies for the oil and gas industry and the benefits of alternative sources of energy. They just want gas prices to come down — today.

Obama should have listened to Congressman Tim Ryan of Niles, D-17th, who on Friday said that opening the Strategic Petroleum Reserve should be part of the president’s “all of the above” energy policy. Such a release of petroleum will reduce speculation, increase the amount of oil on the market and reduce prices at the pump.

As of February, there were 695.9 million barrels of oil maintained by the U.S. Department of Energy. The total value of the crude is $64.5 billion.

According to the energy department, the Strategic Petroleum Reserve exists as an emergency response tool the president can use should the United States be confronted with an economically threatening disruption in oil supplies.

What’s going on today in the United States certainly meets the definition of “economically threatening disruption in oil supplies.” Whatever the reason for the shortages, the crisis in Iran or the growing demand in China, Russia and India, the fact remains that the fragile economic recovery in America is in jeopardy.

President Obama needs to announce that he will not hesitate to release oil from the reserve if prices don’t start coming down by the vacation-driving season. His re-election in November largely depends on whether the voters believe he has done enough to satisfy their addiction to oil.

What was the president thinking Saturday when he talked about alternative sources of energy? Obviously not what the American people are thinking today.


1chuck_carney(499 comments)posted 2 years, 6 months ago

thinkthentalk maybe you should readbeforeyouwrite. See how wonderfully the wind turbines are working out in Lordstown.

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2palbubba(664 comments)posted 2 years, 6 months ago

thinkthentalk, if the government stops the subsidies, the cost will just be passed on to the consumer. That would be the trucking industry and business and raise prices for all of us. The price at the pump will only go up for you and all other car owners. This would get Obama Bin Laden his target price of $5 per gallon much quicker than any other way. Face it those of you who elected this economically challenged President are too busy drinking kool-aid to think for yourselves.

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3chuck_carney(499 comments)posted 2 years, 6 months ago

thinkthentalk, this is a different four letter state, Ohio not Iowa. I remember when timmie ryan was pushing windmills here in Ohio and it went the same route as his race track. timmie needs to push for fracking 120% on private and public lands now. But he is friends with O'bama, Pelosi and Hagan.. He is more interested in his friends' support, rather than bringing down the price of gas.

The last time the SOR was released. the effect was minimal.

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4tnmartin(236 comments)posted 2 years, 6 months ago

Oh good. Another cockamamie scheme to distract from O's abysmal record. Another Airship Enterprises, or Commuter Aircraft Corp., or ....

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5UticaShale(854 comments)posted 2 years, 6 months ago

Thank God drilling is robust on private lands, we'll just let the bureaucrats and politicians continue to waste their time while we produce.

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