Thursday, August 21, 2008

Empty The Strategic Petroleum Reserve?

A couple of academics try to make the case.

I see through it, though. It's the same thing motivating Nancy Pelosi and Harry Reid to call for opening the SPR; by opening it, the price of oil drops even more than it is already, back to the point where US citizens stop worrying about the price of gasoline, and view Obama, who doesn't wish to increase domestic oil supplies, more favorably than they do with gas near $4 a gallon. You can bet that if falling gasoline prices lead to an Obama victory in November, that the SRP would be slammed shut again, and all talk of domestic drilling gagged. Obama, Pelosi and Reid really want to see gas at $5 or more; they don't give a damn about working people.

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