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LONDON, Mar. 15, 2012 (Reuters) — Britain has decided to cooperate with the United States in a bilateral agreement to release strategic oil stocks, two British sources said, in an effort to prevent high fuel prices derailing economic growth in an election year.
Rising world oil prices, up to $125 a barrel for Brent crude, have pushed gasoline prices up sharply this year and threaten to choke economic recovery ahead of Obama's bid for re-election in November.
Originally posted by truthseeker1984
That article refutes the op. I was getting excited and then I saw this on USAToday.com.
Originally posted by Wrabbit2000
Oh, there are some days I wish I hadn't stopped by the computer to check online things. This is enough to be sick over.... So Obama is really going to do it, eh? He's really going to waste some of the only reserves our nation has for time of war......as he's pushing our nation toward a late summer/early fall MAJOR war with Iran and it's allies. Oh brilliant.
Why should I ever have expected Obama to appreciate the reasons and needs for the Strategic Reserve existing in the first place. It was NEVER NEVER NEVER to waste away on something so petty as pump price. What the heck happens in a few months if we get FAR on the wrong side of the Arabs...and Obama is capable of it, to be sure....and they cut us off ENTIRELY?!
The reserve was created for THAT scenario after the 1970's embargo and the TRUE shortages. We'll look real stupid standing there next to Naval Warships tied to the pier and sitting on Empty because this moron gave what they had set aside for THEM...to FIGHT A WAR....on the hope he could score a few more votes..for the *VERY SHORT* time this mistake actually has an impact on prices at all. That impact won't even last long.
I could just scream! Bush was bashed when HE did it..and it was WRONG. It's STILL wrong with Obama, but the stakes are SO much higher now, and the consequences are so much more severe for bad judgement in this time period.edit on 15-3-2012 by Wrabbit2000 because: (no reason given)
Perhaps he is doing so on purpose? Knowing full well the possible consequences? Maybe even wanting those consequences?