Obama Administration Wrong To Release Oil From Strategic Petroleum Reserve

The news today from the Obama Administration was political, and it was wrong.

The Obama administration will release 30 million barrels of oil from the strategic petroleum reserve in an effort to offset oil supply disruptions in the Middle East, the Energy Department announced Thursday morning. Other countries will release an additional 30 million barrels.

There is no doubt the national economy is rocky, and even Federal Reserve Chairman Bernanke admitted to being dumbfounded Wednesday by the lackluster recovery.  But that should in no way have led anyone to think the strategic petroleum reserve is an option to be employed at this time.

The reserves should only be used in emergency situations when international conditions make the use of this oil a necessity. That the economy is fragile, and the increase of oil prices may limit economic expansion is not enough of a reason to consider tapping the reserves. There is never a good time, economically speaking, for a spike in oil prices.

It is obvious that instability in the Middle East is causing some of the price increase. But the international need for oil and energy, along with the higher demand that will take place when world-wide economies do truly bounce back, will insure higher oil prices well into the future.

Just how long do Americans think the reserves should be used?

Lets be honest, high gas prices make drivers upset but that is not a reason at all to think about the reserves.

That for decades the American people have not wanted to address the tough decisions about how to modernize cars, find alternate sources of energy, and remove themselves from the seemingly never-ending oil supplies from the Middle East is no reason to tap these reserves now.

We should have forced Congress to mandate that car companies make engines with higher miles-per-gallon. We should have understood the need for alternate methods of transportation, and been willing to pay for it like other modern places around the globe.

Nation’s Oil Reserves Should Not Be Used For High Gas Prices

It was only a matter of time before the topic was raied in this country of using the Strategic Petroleum Reserves in response to rising gasoline  prices.  That it even took this long before Americans felt the need to consider this idea surprises me.   That it was not knocked off the table at once by the Obama White House is equally surprising, and alarming.

When asked this morning on “Meet The Press” about the idea of opening the reserves, Bill Daley, the White House Chief Of Staff said, “We’re looking at the options. The issue of the reserve is one we are considering.”

That is a wrong answer.

The Strategic Petroleum Reserve should not be used in response to the rising price of oil.  

The reserves should only be used in emergency situations when international conditions make the use of  this oil a necessity.  That the economy is fragile, and the increase of oil prices may limit economic expansion is not enough of a reason to consider tapping the reserves.  There is never a good time, economically speaking, for a spike in oil prices.

It is obvious that instability in the Middle East is causing some of the price increase.  But the international need for oil and energy, along with the higher demand that will take place when world-wide economies bounce back, will insure higher oil prices well into the future. 

Just how long do Americans think the reserves should be used? 

Lets be honest, high gas prices make drivers upset but that is not a reason at all to think about the reserves.

That for decades the American people have not wanted to address the tough decisions about how to modernize cars, find alternate sources of energy, and remove ourselves from the seemingly never-ending oil supplies from the Middle East is no reason to tap these reserves now. 

We should have forced Congress to  mandate that car companies make engines with higher miles-per-gallon.  We should have understood the need for alternate methods of transportation, and been willing to pay for it like  other modern places around the globe.

If the American driver thinks these are tough times at the gas pump consider the possibilities of world unrest and the actual cut-off of supplies that could happen. 

The Obama White House needs to be honest about the reasons we have the reserves in the first place, and not play politics with them, as former Presidents have done. 

As for the American drivers who whine about the high price of gas I only ask that they think about the political candidates they supported over the years, and the types of energy plans advocated by the people they cast a ballot for.

In other words, stop the whining.