The Oilbama Megathread

[Admiral Yi]

Were you guys aware that Obama had released 30 million barrels from the Strategic Petroleum Reserve?

[The Brain]

Oh no he didn't!

[Habbaku]

Same, pointless gesture that Bush went through with.

[MadImmortalMan]

Were you guys aware that Obama had released 30 million barrels from the Strategic Petroleum Reserve?

Yep. Saved us a hundred bucks in gas over the next couple months, and knocked the value of our 401ks down by a five grand.



Also, a bunch of trades the previous day are under investigation.

[Grey Fox]

Were you guys aware that Obama had released 30 million barrels from the Strategic Petroleum Reserve?

Yep. Saved us a hundred bucks in gas over the next couple months, and knocked the value of our 401ks down by a five grand.



Also, a bunch of trades the previous day are under investigation.

Investing in oil should be illegal.

[CountDeMoney]

Same, pointless gesture that Bush went through with.

While I disagree with releasing any oil onto the market from the US Strategic Reserve system on general principle, knocking down the price a few cents per gallon will allow Johnny Six Pack to go on vacation and spend money.  It helps.

[Tonitrus]

Were you guys aware that Obama had released 30 million barrels from the Strategic Petroleum Reserve?

[Habbaku]

Same, pointless gesture that Bush went through with.

While I disagree with releasing any oil onto the market from the US Strategic Reserve system on general principle, knocking down the price a few cents per gallon will allow Johnny Six Pack to go on vacation and spend money.  It helps.

The amount released is the equivalent of, what, a week's consumption?  Probably less.

[CountDeMoney]

Same, pointless gesture that Bush went through with.

While I disagree with releasing any oil onto the market from the US Strategic Reserve system on general principle, knocking down the price a few cents per gallon will allow Johnny Six Pack to go on vacation and spend money.  It helps.

The amount released is the equivalent of, what, a week's consumption?  Probably less.

Well, 30m bbl from us and 30m bbl from other countries over the course of 4-6 weeks is intended to replace the 1.5m bbl per day lost from lack of Libyan production on the market.
My 3.8L appreciates the effort.

[Neil]

Same, pointless gesture that Bush went through with.

While I disagree with releasing any oil onto the market from the US Strategic Reserve system on general principle, knocking down the price a few cents per gallon will allow Johnny Six Pack to go on vacation and spend money.  It helps.

But not really, since the price of gas wasn't an impediment to anybody doing anything.

[Sheilbh]

Were you guys aware that Obama had released 30 million barrels from the Strategic Petroleum Reserve?

A number of countries and the US released 60 million I think.  It's meant to be 2.5% of consumption over the next month or something similar.

[CountDeMoney]

But not really, since the price of gas wasn't an impediment to anybody doing anything.

Link, please.

[Grey Fox]

Same, pointless gesture that Bush went through with.

While I disagree with releasing any oil onto the market from the US Strategic Reserve system on general principle, knocking down the price a few cents per gallon will allow Johnny Six Pack to go on vacation and spend money.  It helps.

But not really, since the price of gas wasn't an impediment to anybody doing anything.

Gas price is an impediment to do doing anything. With 10¢ a gallon we would have colonies on Mars, ffs.

[Neil]

But not really, since the price of gas wasn't an impediment to anybody doing anything.

Link, please.

I don't need a link to tell you that a few cents makes no difference.  Gas here is more expensive than it is in your country, but Canadians still spend money, go on vacation and generally live just as well or better than their American counterparts.

[CountDeMoney]

but Canadians still spend money, go on vacation and generally live just as well or better than their American counterparts.

Which is why I'm such a big fan of your brand of socialism.