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Wolf Blitzer delivers the most important breaking news and political, international, and national security stories of the day. Tune to The Situation Room weekdays 5-7pm ET on CNN.
June 24th, 2011
09:20 AM ET
Obama to tap oil reserves
CNN's Lisa Sylvester looks into why President Obama is tapping into the country's oil reserves now.
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Isn't it amazing that oil market analyst had said a week before Obama made his oil release announcement that the price of gas was probable going to drop 10 to 12Cents a gallon because of supply and demand issues then,low and behold,all of a sudden,after holding all that oil through the highest prices and knowing prices were going t drop anyway he unloads the flood gates to a market already flooded with oil. Just took that threat away from any future need to hold oil companies in line. Our political and administration leaders are bought and sold by the oil and energy barons and our future enerdy already,or will soon belong to them also.
Tom, Sterling, Mass
Good move. The current system is too speculator driven, and too easily manipulated. Now that we have a President who takes the job seriously, this won't be the last we hear about overturning this system that steals from all of us to give money to the rich. hmmm that sounds familiar.
Too little too late he should have done it when gas was $ 4.00 a gallon now that his approval numbers are plunging and the economy is set for a double dip recession he is trying this to try to bring his approval numbers up which this isn't going to cut it ! With unemployment at 9.1 % and the economy in the state it's in this little trick won't work.
If you are implying that Obama is in cahoots with the oil barons, you have been misinformed by the right wing misinformation machine. He is doing everything he can FOR THE MASSES, not the FEW rich folk.