BobG
Science Advisor
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WhoWee said:Who said the President doesn't have a clear (emergency?) energy policy?
http://firstread.msnbc.msn.com/_news/2011/06/23/6926118-targeting-gas-prices-obama-administration-taps-strategic-oil-reserve
"Decisions to withdraw crude oil from the reserve, which the department calls "a key tool of foreign policy," are made by the president in the event of an "energy emergency." Prior to today's announcement, the reserve has been used under these circumstances just twice -- during Operation Desert Storm in 1991 and after Hurricane Katrina in 2005."
IMO - the emergency in this case is poor polling results in accordance with gas prices?
IMO - we won't see drastic drops in prices at the pump. Generally speaking, this will result in a sharp drop in oil prices for gasoline retailers, but a very gradual downslope in the price of gasoline prices for customers. If there is such a thing as price gouging by gasoline companies, it's being very slow to drop retail prices when oil prices drop. There just isn't as much pressure from consumers when prices are going down.
If Obama somehow puts pressure on retailers to drop the price as fast as oil prices drop (either giving them bad PR or hint at threats to reduce oil subsidies/tax breaks, etc), then I would consider that a surprise success.
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