US, UK Agree on Release of Emergency Oil Stocks: Reuters

UPDATE: An unnamed government official is denying a decision has been made, but does not deny the conversation took place.  Reuters has not backed down from the story.

“The Obama administration can only take so much political pain from rising gasoline prices, which pose a serious threat to the economy and the president’s re-election,” said Bob McNally, a former White House energy adviser and head of U.S. energy consultancy Rapidan.

“SPR (Strategic Petroleum Reserve) use is more a matter of when than if. The administration strongly desires international support and coordination from other strategic stock holders, but is encountering stiff resistance from some IEA members who think strategic stocks should only be used for severe supply disruptions,” McNally said. Hot Air

There it is, pure political and to heck with our safety and security. This is illegal from the stipulations required for its release. Note the graph at the end of the post- within a week, oil was back to where it was before the release last June.

Full story over at Reuters

A formal request from the United States to the UK to join forces in a release of oil from government-controlled reserves is expected “shortly” following a meeting on Wednesday in Washington between President Barack Obama and Prime Minister David Cameron, who discussed the issue, one source said.

Britain would respond positively, the two sources said.

“We regularly consult with the British on energy issues and any discussion that we had was in that context. We will continue to monitor the situation and consult with them and others,” an Obama administration official said

Back in June,2011  Heritage released this scathing post on Obama releasing our oil reserves. They were never replaced. Now, the headlines report, more to come.  With the Middle East in flames, and the Strait of Hormuz at risk, this is a deliberate attempt to put the Nation at great risk. From June,2011:

President Obama Abuses Nation’s Oil Reserves

When it comes to making bad energy policy decisions, President Obama is a pro. Yesterday was no exception when the Obama Administration announced it would release 30 million barrels of oil from the Strategic Petroleum Reserve (SPR). This is part of an agreement with the International Energy Agency (IEA) to put a total of 60 million barrels on the market in the next 30 days.

So what is the Strategic Petroleum Reserve? The SPR is a national security inventory designed to protect the U.S. against a “severe energy supply disruption.” In order to use it, three conditions must be met:

1. An emergency situation exists and there is a significant reduction in supply which is of significant scope and duration;
2. A severe increase in the price of petroleum products has resulted from such emergency situation; and
3. Such price increase is likely to cause a major adverse impact on the national economy.

These conditions have not been met. More at  Heritage

Recall last June? CNN: Crude prices rise a week after June 2011 release.

NEW YORK (CNNMoney) — Oil prices have surged in the last few days and are now less than a dollar from where they were when President Obama made the controversial decision to tap the nation’s strategic reserve last Thursday.

On Thursday, West Texas Intermediate crude edged lower to $94.27 a barrel. But that’s still nearly $5 higher than last week, when prices fell over 4% following the oil release announcement.

Obama’s thoughts on gas prices ‘before’ and now!

I was going through a number of idiotic videos from the previous campaign of Obama regarding the high price of gasoline with the thought of posting some of his best.. There are so many that it was hard to choose. There was the famous, “all you need to do is check your tires with a tire gauge” one that looked like it would make the top of my list. Then I caught this one from Geeeeez “Gas hypocrisy on the left” Hang with it, you will not be disappointed.

Recall how Bush was treated by the Left when gas prices were $1.87 per gallon?  Such insults.   And now?    You’ll see media stories where “rising gas prices are a GOOD THING!”   “There are reasons to be optimistic, people’s lives have been saved from high gas prices”