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So, Pres. Obama is releasing 30 million barrels of oil from the strategic reserves. He has not given a clear explanation on why he is doing it now rather than when the price of oil was about 30% higher.
I also thought most people felt that the price spike was due to speculators and not supply.
I thought that higher oil prices would help the fledgling hybrid auto market, specifically Government Motors or GM.
I though that since drilling on our own shore wont make a difference, releasing oil from our strategic reserves would not make a difference.
So, as usual I am at a loss here and I can only assume Obama's motivations are purely political - what a shame!
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"Democracy is two wolves and a sheep voting on lunch."
"It is useless for the sheep to pass resolutions on vegetarianism while the wolf is of a different opinion."
"If you live among wolves you have to act like one."
"A lady screams at the mouse but smiles at the wolf. A gentleman is a wolf who sends flowers."
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