Not Logged In Log In   Sign Up   Points Leaders
Follow Us    4:39 PM

GasBuddy News Article

56
votes
Oil Falls on Report Obama, Cameron Discussed SPR Release

Bloomberg -- Oil fell for the third time in four days on reports that President Barack Obama discussed a release from the U.S. Strategic Petroleum Reserve with U.K. Prime Minister David Cameron.

Futures declined 0.3 percent as Jay Carney, the White House press secretary, said the leaders reached no agreement. The price dropped as much as 1.6 percent in intraday trading after Reuters reported that two people it didn’t name said the U.K. has decided to cooperate with the U.S. on a supply release with gasoline pump prices over $3.80 a gallon.

“The market took a massive tumble on the rumors of a SPR release,” said Stephen Schork, president of the Schork Group in Villanova, Pennsylvania. “It makes sense that they would be planning a release now. We will have to see if the bears can continue to keep us...


Read the Full Article

Submitted Mar 16, 2012 By: Mudsprings
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Oil Falls on Report Obama, Cameron Discussed SPR Release Back to Topics
REPLIES (newest first) Post a Reply
Profile Pic
boldrph
Champion Author Topeka

Posts:21,703
Points:4,136,870
Joined:Oct 2002
Message Posted: Mar 16, 2012 11:21:53 PM

speculate that
Profile Pic
Blue48
Champion Author Illinois

Posts:10,201
Points:2,325,545
Joined:Feb 2007
Message Posted: Mar 16, 2012 10:51:06 PM

THEN WHY DID GAS GO UP .30c,TO $4.09, HERE IN PEORIA IL!
Profile Pic
PetroScopper
Champion Author Houston

Posts:9,459
Points:2,232,595
Joined:Aug 2008
Message Posted: Mar 16, 2012 10:17:34 PM

If we change the rhetoric, we change the prices... as long as Romney is yacking about what he going to do to Iran, along with everything else that is happening in the Middle East, we will deal with higher than normal oil and gas prices.
Profile Pic
SparkieMi
Champion Author Kalamazoo

Posts:5,986
Points:1,256,725
Joined:Sep 2011
Message Posted: Mar 16, 2012 10:11:56 PM

Really!!!! The price of oil may have dropped but pump prices here went up!!
More smoke blown up our ( you know what!!)
Profile Pic
PoohMcGoo
Champion Author Alabama

Posts:3,792
Points:1,370,260
Joined:Dec 2010
Message Posted: Mar 16, 2012 10:01:26 PM

What, he found a magic bullet?
Profile Pic
ezone
Champion Author Florida

Posts:3,955
Points:1,493,570
Joined:Oct 2008
Message Posted: Mar 16, 2012 9:56:43 PM

Sounds like the previous article.
Profile Pic
duffee01
Champion Author Mississippi

Posts:1,136
Points:969,265
Joined:Sep 2011
Message Posted: Mar 16, 2012 9:51:03 PM

Just you wait till it gets closer to November, he will be getting out the real grease so that it won't hurt none at all. In other words, you ain't seen nothing yet.
Profile Pic
Gas4Gore
Champion Author Detroit

Posts:3,370
Points:600,885
Joined:Jan 2010
Message Posted: Mar 16, 2012 9:46:36 PM

If President Barack Hussein Obama wants to, he can bring down the price of gas. It all depends how much he needs to be re-elected.
Profile Pic
jshock
Champion Author Missouri

Posts:1,315
Points:398,845
Joined:Feb 2007
Message Posted: Mar 16, 2012 9:44:18 PM

Is this an election year?
Profile Pic
DustyHorse
Champion Author Virginia

Posts:8,886
Points:2,044,210
Joined:Oct 2008
Message Posted: Mar 16, 2012 9:42:37 PM

0.3% is not much of a drop!
Profile Pic
gass12
Champion Author Omaha

Posts:11,138
Points:2,985,310
Joined:Oct 2005
Message Posted: Mar 16, 2012 9:39:27 PM

Oil has droped for 4 days this week - but the price of Gas has gone up.
Profile Pic
sillywagon
Champion Author New York

Posts:20,046
Points:2,128,170
Joined:Oct 2008
Message Posted: Mar 16, 2012 9:37:20 PM

Where is the emergency? I don't like paying $3.93 a gallon, but there is no disruption in supply. This move is just political. Plus it will have short term effects.
Profile Pic
boborobot
All-Star Author Michigan

Posts:804
Points:1,041,040
Joined:Dec 2011
Message Posted: Mar 16, 2012 9:31:49 PM

Hate speculators
Profile Pic
GAS1251
Champion Author Texas

Posts:8,042
Points:2,314,175
Joined:Jun 2008
Message Posted: Mar 16, 2012 9:31:41 PM

Gas at pump rose another dime.
Profile Pic
dollarwatcher
Champion Author Wisconsin

Posts:9,932
Points:2,000,000
Joined:Mar 2007
Message Posted: Mar 16, 2012 9:30:54 PM

That was yesterday, today it went up 2 something AND let our emergency supply alone.
Profile Pic
monarch57
Champion Author British Columbia

Posts:2,334
Points:240,980
Joined:Nov 2008
Message Posted: Mar 16, 2012 9:30:38 PM

Woopie do, oil should drop $40 a barrel./
Profile Pic
spedygonzales
All-Star Author Toronto

Posts:979
Points:907,640
Joined:May 2011
Message Posted: Mar 16, 2012 9:23:00 PM

ok i guess
Profile Pic
pgerassi
Champion Author Milwaukee

Posts:13,790
Points:2,817,645
Joined:Apr 2007
Message Posted: Mar 16, 2012 9:21:42 PM

ok.
Profile Pic
ratones1
Champion Author Los Angeles

Posts:3,328
Points:1,291,135
Joined:Mar 2011
Message Posted: Mar 16, 2012 9:21:28 PM

lies...
Profile Pic
Fedorov91
Champion Author Tampa

Posts:1,602
Points:1,362,275
Joined:Oct 2008
Message Posted: Mar 16, 2012 9:16:37 PM

Load of crap
Profile Pic
Beaveronparade
Champion Author Hartford

Posts:3,404
Points:1,276,405
Joined:Mar 2011
Message Posted: Mar 16, 2012 9:16:11 PM

Gas is still going up here in CT. It needs to go down.
Profile Pic
hcivic
Champion Author Virginia

Posts:6,702
Points:2,945,355
Joined:Aug 2005
Message Posted: Mar 16, 2012 9:10:29 PM

we'll see. I dought it
Profile Pic
DrLyon
Champion Author Michigan

Posts:8,834
Points:1,836,515
Joined:May 2006
Message Posted: Mar 16, 2012 9:09:42 PM

So gas rises here...
Go figure...
Profile Pic
TXGasPriceSpy
Champion Author Fort Worth

Posts:10,706
Points:2,151,525
Joined:Sep 2008
Message Posted: Mar 16, 2012 9:07:12 PM

I wish I could believe everything I read!!!
Profile Pic
ghmortensen
Champion Author Minnesota

Posts:2,514
Points:2,187,755
Joined:Jan 2007
Message Posted: Mar 16, 2012 9:03:38 PM

Bogus
Profile Pic
kishoreCA
Champion Author Ventura

Posts:6,702
Points:1,056,040
Joined:Mar 2012
Message Posted: Mar 16, 2012 9:01:12 PM

just betting on a news scoop.
Profile Pic
Panama Red
Champion Author San Diego

Posts:12,978
Points:2,927,530
Joined:Jun 2004
Message Posted: Mar 16, 2012 8:56:12 PM

Release of oil from the USA SPR is not a good idea. It's been tried before, with no lasting effect on gasoline prices. It is just a political
ploy in an election year.
Profile Pic
Asbury09
Champion Author Iowa

Posts:10,093
Points:2,217,355
Joined:Jan 2009
Message Posted: Mar 16, 2012 8:55:55 PM

leave the SPR alone, we may need it for an emergency some day
Profile Pic
knot2swift
Champion Author Calgary

Posts:6,036
Points:1,054,115
Joined:Nov 2009
Message Posted: Mar 16, 2012 8:51:47 PM

Nothing like borrowing from bank!

We all thought Greece was in trouble owing hundreds of billions. The US is at 15.5 trillion these days! The SPR is a bank.

So stupid the US is wasting money on worthless wars, homeland security and dipping into savings like the SPR.

A dying empire.
Profile Pic
DriverofRed
Champion Author Calgary

Posts:4,700
Points:990,900
Joined:Dec 2011
Message Posted: Mar 16, 2012 8:51:28 PM

ok
Profile Pic
min_fuel
Champion Author Philadelphia

Posts:1,958
Points:745,360
Joined:Jan 2008
Message Posted: Mar 16, 2012 8:49:14 PM

Dumb, Drill for the 1 trillion barrels of oil in North Dakota, build the Keystone XL pipeline to move it to the Gulf refineries along with the Canadian Tar Sand Oil. Do something good for yourself and America, and dump Obama.
Profile Pic
amearly
Champion Author Michigan

Posts:14,912
Points:3,142,500
Joined:Jan 2006
Message Posted: Mar 16, 2012 8:47:34 PM

One says one thing while the other say is not happening , Obama will what until it's closer to election time.
Profile Pic
Agarre
Champion Author Richmond

Posts:1,785
Points:375,915
Joined:Feb 2012
Message Posted: Mar 16, 2012 8:45:40 PM

Obama is done with office
Profile Pic
nightworker998
Champion Author Maryland

Posts:2,765
Points:987,340
Joined:Mar 2009
Message Posted: Mar 16, 2012 8:44:32 PM

won't help the last release was bought by 2 large banks, a hedge fund, and aretirement plan.
Profile Pic
murph777
Veteran Author New Jersey

Posts:328
Points:65,330
Joined:Jan 2012
Message Posted: Mar 16, 2012 8:42:26 PM

Prices still going up in our area.
Profile Pic
SUPERQUACK
Champion Author Sacramento

Posts:6,457
Points:2,486,955
Joined:Jun 2007
Message Posted: Mar 16, 2012 8:42:08 PM

BACK UP TOMORROW
Profile Pic
Zeke33
Champion Author New Hampshire

Posts:7,595
Points:2,093,710
Joined:Sep 2005
Message Posted: Mar 16, 2012 8:36:05 PM

Obummer is lying--just getting ready to ramp up campaigning. He wants to see what effect the lie will have on the price of oil so that he can use it again to pull himself out of the fire just before the election.
Profile Pic
INSugar
Rookie Author Indiana

Posts:78
Points:359,370
Joined:Mar 2005
Message Posted: Mar 16, 2012 8:35:43 PM

Wow! What an out-and-out ploy to gain votes! Shameful.
Profile Pic
stephen2155
Champion Author North Carolina

Posts:5,464
Points:1,323,805
Joined:Jun 2011
Message Posted: Mar 16, 2012 8:35:03 PM

Ok
Profile Pic
trojanot
Champion Author Michigan

Posts:4,658
Points:1,356,100
Joined:Jan 2009
Message Posted: Mar 16, 2012 8:34:01 PM

The U. S. and U. K. combined can't release enough crude oil to have more than a week or two affect in the market. Far better to increase global production and refining capacity, plus look long-term at increasing alternative energy sources.
Profile Pic
ericbcire
Champion Author Nevada

Posts:7,378
Points:1,951,710
Joined:Aug 2009
Message Posted: Mar 16, 2012 8:33:55 PM

Prices must drop or the economy will worsen.
Profile Pic
wdbtchr
Rookie Author St. Louis

Posts:31
Points:93,370
Joined:Mar 2009
Message Posted: Mar 16, 2012 8:30:31 PM

Want to see the price of gas go down, start talking about restricting gas shipments overseas. Then watch the price at the pump drop.
Profile Pic
us4usa
Champion Author Missouri

Posts:7,139
Points:1,526,020
Joined:May 2008
Message Posted: Mar 16, 2012 8:30:21 PM

, David Greely, Goldman’s head of energy research in New York, said in a report distributed today.

“We expect prices to average $130 in 2013, so we expect them to rise higher between now and then,” Greely said. “On a 12-month horizon we see Brent prices at $127.50.”

Good thing we taxpayers bailed Goldman out so they can run us in the ditch again...
Profile Pic
no8c
Champion Author Ohio

Posts:5,186
Points:1,360,250
Joined:Jul 2008
Message Posted: Mar 16, 2012 8:27:25 PM

Thanks for posting this article!
Profile Pic
eblair54
Sophomore Author Missouri

Posts:143
Points:861,250
Joined:Sep 2011
Message Posted: Mar 16, 2012 8:23:26 PM

By all means, discuss away! But neither Obama nor Romney has the power to lower gas prices. The price of gas is market driven, and the President of the United States (whoever he or she is) has very little influence over the economy in general, and especially over gasoline prices. You'll see, if and when a Republican gets elected, that prices will not only stay the same, but increase.
Profile Pic
GasFreeLeaf
Champion Author Orange County

Posts:1,476
Points:577,605
Joined:Oct 2010
Message Posted: Mar 16, 2012 8:22:46 PM

Ditto toadNY
Profile Pic
g747
Champion Author Mobile

Posts:7,243
Points:1,576,655
Joined:Jul 2009
Message Posted: Mar 16, 2012 8:22:02 PM

Shock the Monkey; & release the oil!!!!!!!!.
Profile Pic
jb107
Champion Author New Jersey

Posts:12,394
Points:3,305,120
Joined:Sep 2005
Message Posted: Mar 16, 2012 8:21:39 PM

The prices here are up and there plan will only work for a week or so.
Profile Pic
notnxs383
Champion Author Missouri

Posts:4,425
Points:1,106,650
Joined:Oct 2008
Message Posted: Mar 16, 2012 8:20:32 PM

Don't need to read this propaganda. Price at the pump keeps rising
Profile Pic
HailstormCA
Champion Author San Diego

Posts:10,302
Points:2,069,350
Joined:Nov 2008
Message Posted: Mar 16, 2012 8:12:45 PM

Want to see it really drop? Discuss actually approving drilling in all areas.
Profile Pic
DABEE1073
Champion Author San Diego

Posts:11,300
Points:2,258,100
Joined:Jun 2008
Message Posted: Mar 16, 2012 8:09:18 PM

IT IS GETTING CLOSER TO ELECTION TIME SO obummer IS JUST CAMPAIGNING.
Post a reply Back to Topics