President BO is in Violation of the SPR Mission statement
The Mission of the SPR is to diminish vulnerabilty of the US to harmful effect of severe supply disrupition of crude oil and NOT to be used to influence the market prices. When BO agreed to release 30 million Barrels over next 30 days it is not need since storage in Cushing Okl is at max capacity of 44 million barrels. This is political re-election reasons only plus he is talking to IEA to release more in near future. THIS IS STUPID.
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Permalink Reply by JHH on
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The president can do anything he wants. The congress can do whatever it wants. Bureaucrats can do whatever they want. We the people abdicated responsibility a long time ago because we're far to busy to worry about it. Yes the release is/was stupid. But what's anyone going to do about it? Where did the 700-billion in stimulus go? Has anyone asked for an accounting of the funds? Sorry to sound so pessimistic because generally i'm an optimist.
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