Obama may release oil from the Nation’s Strategic Petroleum Reserve?

by ~ The Rebel ~ Posted 2012/08/18 02:47:22

Related Topics: Obama, Iran, Gas, Oil, Gas Prices, Nuclear, Labor, Holiday, Friday, Gasoline, Sanction, Strategic

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Obama will consider releasing oil from the nation’s Strategic Petroleum Reserve if increased sanctions on Iran cause costs to rise, according to a report on Friday.

Officials have a plan ready if gasoline prices do not fall after Sept. 3, according to Reuters. Historically, gas prices drop after the Labor Day holiday.

Obama signed into law a broad range of new sanctions against Iran’s energy, shipping and insurance sectors last week. The new sanctions are intended to pressure Iran to abandon its nuclear program.

Rusty Shackleford 2012/08/18 04:04:29

+2
This move isn't designed to benefit the nation, it is designed to benefit him.

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stevmackey 2012/08/18 02:54:01

+2
Only to get votes. He sat on those reserves for his entire term in office. He has refused drilling. He is no friend.

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