High gas prices fuel calls for tapping oil reserve
February 27th, 2012
03:37 PM ET
2 years ago

High gas prices fuel calls for tapping oil reserve

Washington (CNN) - While high gas prices are draining the wallets of American motorists, they're also driving heated debate over opening the spigot on the U.S. Strategic Petroleum Reserve.

President Barack Obama has not said which way he's leaning but in remarks to the National Governors Association on Monday in Washington, he touched on the subject while talking about the need to keep the economic recovery moving forward.

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Filed under: Energy • President Obama
soundoff (22 Responses)
  1. Wire Palladin, S. F.

    Maybe we do what Newt said about bringing gasoline down to $2 a gallon, which can only happen by nationalizing the oil companies.

    February 27, 2012 03:39 pm at 3:39 pm |
  2. Rudy NYC

    No, do not tap into the oil reserve. What if the military needs it?

    February 27, 2012 03:44 pm at 3:44 pm |
  3. Dr Knowitall

    How about tapping some good ole American knowhow instead. Unlease the beast Mr. Obama !

    February 27, 2012 03:45 pm at 3:45 pm |
  4. New England Independent

    How about an investigation into price gouging by the oil and gasoline companies? Oil and gas companies is that redundant?

    February 27, 2012 03:46 pm at 3:46 pm |
  5. Truth and Nothing But the Truth

    Tough decision for Obama here... He wants high gas prices to drive his green agenda but he also wants to get re-elected and will do or say anything to make that happen. I'm sure he'll put the green agenda on hold while he opts for the Obama Salary Continuation Plan. After all he's done to hurt the oil industry, he now wants to try and convince the American people he actually supports it. Bring on the smoke machines!!

    February 27, 2012 03:49 pm at 3:49 pm |
  6. Marie MD

    No president sets the gas prices but I have a feeling this is being done by the oil companies against the present administration. There is absolutely NO reason for these price hikes.
    Whatever the administration has done improve the economy worked so this is one way those people/corporations can hurt the largest amount of citizens at once and blame it on the president. The teapublikans in congress are probably part of this.

    February 27, 2012 03:50 pm at 3:50 pm |
  7. Truth and Nothing But the Truth

    Rudy NYC - No, do not tap into the oil reserve. What if the military needs it?
    ======================================================
    You mean when Obama attacks Iran and the Strait of Hormuz gets closed?

    February 27, 2012 03:50 pm at 3:50 pm |
  8. GI Joe.

    Speculation on Wall Street and Iran's sabre rattling are doing it. You people need to learn how to read something other than these gossip columns. Never mind - you wouldn't understand the big words anyway.

    President Obama does NOT want high gas prices, but the republicans certainly do - it gives them something to "spin" for their adoring idiots.

    February 27, 2012 03:55 pm at 3:55 pm |
  9. Wire Palladin, S. F.

    Truth – I think it's the republicans who have promised a war with Iran. They will probably tell us about WMDs and sing, "bomb, bomb, bomb Iran." The rest of the world has imposed sanctions on Iran, so we do not have to go it alone.

    February 27, 2012 03:58 pm at 3:58 pm |
  10. w l jones

    Our oldest soft drink sell for $1.50 at most places to release stomach problem so why we need to release our oil reserve and put us in a bind just to be durning something?

    February 27, 2012 04:03 pm at 4:03 pm |
  11. Larry in Houston

    why don't they tap into the oil that is in alaska ? there is lots of oil there, probably enough to keep america going for 200 + yrs or more. If we tapped into alaska, we would not have to rely on foreign oil.

    February 27, 2012 04:04 pm at 4:04 pm |
  12. Rudy NYC

    @Truth – I keep telling you that I am an independent, but you do not believe me. The problem is that the right wing has moved so far to the right that moderates and independents are so distant that you cannot distinguish them from liberals.

    February 27, 2012 04:04 pm at 4:04 pm |
  13. Robert

    Let me see.... Republicans want to open the strategic oil reserves now. Then, they want to take us to war with Iran, with an empty strategic oil reserve. Do these people even take themselves seriously?

    February 27, 2012 04:06 pm at 4:06 pm |
  14. Liili

    The right wing nuts aren't going to like anything the Pres. suggest/recommend to curtail the gas crisis! ANd what about t he speculators on Wall Street? That has a lot to do with the gas price situation! None of the right wing candidates with all the answers to every problem are talking about that one!!! More importantly, hope Gov. Brewer respected the Office of the Presidency today and our current President of this great country as well!!! Shameful finger pointing towards the Pres. face and she's still calling herself patriotic and the Governor of AZ!!!! Pres. Obama is the TRUE CHRISTIAN amongst all right wingers including the 2012 candidates running to replace him! He turns the other cheek when most would see it as IMPOSSIBLE and stays above the fray!!!!!! If you're a patriotic christian, then pray for our President!

    OBAMA/BIDEN 2012
    !

    February 27, 2012 04:18 pm at 4:18 pm |
  15. Rudy NYC

    Robert wrote:

    Let me see.... Republicans want to open the strategic oil reserves now. Then, they want to take us to war with Iran, with an empty strategic oil reserve. Do these people even take themselves seriously?
    -----------
    Maybe. I think what the Republicans *really do* want Pres. Obama to open up the reserve, which would have only a temporary efect at best. When the oil and gas prices resume their upward climb after you close the reserve, then Republicans can sit back like cynics and chastise the president for not knowing what he is doing, for not being able to control oil and gas prices. Republicans are encouraging him to make what hindsight will probalby say was a futile gesture.

    February 27, 2012 04:18 pm at 4:18 pm |
  16. Fair is Fair

    The strategic reserve is for national emergencies, Obama – not your re-election campaign.

    February 27, 2012 04:31 pm at 4:31 pm |
  17. JohnPaul

    we should say oil is a stratigic resource and ban all exports of oil and oil products

    hit the gas companies in their stock options

    February 27, 2012 04:33 pm at 4:33 pm |
  18. FLIndpendent

    If you all remember, the President already did tap into the reserve about a year ago and all he got from doing so was criticism from the Repubs. So, that is why they are pushing him now so they can then say he shouldn't have done that, he's diminishing our reserve, etc, etc. Also, has anyone else noticed that the gas prices have been steadily climbing since the Repubs took over the House? The first two years of the Obama presidency the prices stayed around $2.50 give or take. So, coincidence??

    February 27, 2012 04:33 pm at 4:33 pm |
  19. Truth and Nothing But the Truth

    Seems to be all the DEMOCRATS asking to open up the reserves becuase they can see the fragile economy crumbling under these oil and gass prices, and along with it their re-election hopes.

    Personally, I don't think he should open the reserves ESPECIALLY with the situation with Iran. If anything he should immediately reverse his insane pipeline decision and authorize oil drilling everywhere in the USA. HAd we done this years ago, we wouldn't be in this pickle. No more delays, just get it done.

    February 27, 2012 04:40 pm at 4:40 pm |
  20. Durundal

    look we might be able to temporarily offset any spikes in the cost of gas, maybe even offset the high amount of speculation regarding the straight of hormuz and the cyclical nature of driving and gas (spring/summer), but it will absolutely not be able to offset the more permanent problems of gigantic industrializing nations (china, india etc) coming onto the scene with disposable income and looking to consume, or the growing problem of peak capacity and scarcity of resource which would both naturally drag up the prices. Sorry folks, we artificially depressed gas prices for many years, and its myopic,patent stupidity to think that it can continue forever. Welcome to the laws of supply and demand

    February 27, 2012 04:49 pm at 4:49 pm |
  21. Durundal

    look we might be able to temporarily offset any spikes in the cost of gas, maybe even offset the high amount of speculation regarding the straight of hormuz and the cyclical nature of driving and gas (spring/summer), but it will absolutely not be able to offset the more permanent problems of gigantic industrializing nations (china, india etc) coming onto the scene with disposable income and looking to consume, or the growing problem of peak capacity and scarcity of resource which would both naturally drag up the prices. Sorry folks, we artificially depressed gas prices for many years, and its foolishly myopic behavior to think that it can continue forever. Welcome to the laws of supply and demand

    February 27, 2012 04:51 pm at 4:51 pm |
  22. Bill

    Well, the Newt says he'll get us $2.50 a gallon gas...there's a thought to consider but what a tradeoff! LOL I think the president using his office can do more than we think about reeling in these speculators and plain ol' chicanery that is driving up the price, and I don't see why not to try the reserve release. we need to once again renew our efforts on fuel efficient vehicles, more domestic drilling and get that pipeline deal redone! This stuff happens like clockwork so we better get used to it and start getting on the ball about dealing with it in every way we can NOW.

    February 27, 2012 04:59 pm at 4:59 pm |