Considering how gas prices are shooting to the sky due to the situation in Libya, i figured it would be appropriate to talk of this issue.
Since Libya has caused pain at the pump for America lately, President Obama is considering our options. Our Strategic Petroleum Reserve holds 727 millions of gallons of oil, and has been used in rare occasions. Obama has mentioned his thought of using it. The reason for the reserve is in case our supply is cut short we have emergency backup oil.
If the reason for using the reserve is for when we are short on supply, why would the president be considering using it now. It has been expressed that we are not lacking supply of oil, and are not close to that even though the situation is Libya is taking place.
President Obama has expressed his options in order to send the right message to drivers. He is showing his concern for the economy and considering what to do. I understand his reason for sharing his options, but i am not sure if this is the correct option. What i know little about is how this could hurt us and that is what i am most interested in finding out.
So do you think this is a good option? Thoughts? Leave them Here!
This is a great topic! I hadn't heard of the Strategic Petroleum Reserve until I read this. I agree that it isn't time to use the reserve, because our situation isn't serious enough to use up that resource.
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