Strategic Petroleum Reserve to be Renamed “The Hope and Change Re-Election PAC”

By: Steve Maley (Diary)  |  June 29th at 03:00 PM  | 

You heard it here first. The International Energy Agency, a body whose membership parallels the G-20 and which is dominated by members of the EU, announced that it may consider releasing more oil from “its stockpile” (1.6 billion barrels, nearly half of that in the U.S. Strategic Petroleum Reserve) at the end of the current 30-day, 2 million barrels per day period. Repeat of IEA | Read More »

Why Did Obama Open the Strategic Petroleum Reserve?

By: Steve Maley (Diary)  |  June 26th at 08:55 PM  | 

On Thursday, the Department of Energy announced a release of thirty million barrels of crude oil over the next 60 days from the Strategic Petroleum Reserve, the nation’s stockpile supposedly set aside for emergency supply disruptions. Washington, DC – U.S. Energy Secretary Steven Chu announced today that the U.S. and its partners in the International Energy Agency have decided to release a total of 60 | Read More »