U.S. did not call for strategic oil release: G20 sources

natural gas fine with me, hydrogen fine with me,,battery operated fine with me, but why does obama think this should all happen overnite? the US needs to get all these ducks in a row before trying to throw it on everyone before the states are set up to run all the alternative fuels. this should be a slow proscess, i can see people driving 30 miles to work and 30 mi,es home from work from a 8 dollar per hr job, keep tires on their cars, insurance, house payment, taxes and more taxes, food , utilities, more taxes , house insurance, lots more other nessesities, now how they think we are gonna make it? they DONT!!

There is no shortage to protect against; just greedy speculators ripping us off again!!

Where is oil selling for $125 per barrel? Current price is $107.490 according to Gas Buddy.

Since the U.S. is the world's third largest producer of oil, refine our own oil and stop importing oil from the countries who are part of the terrorism lands.

We do not need to build a pipeline to transport Canadian oil to the Gulf just so it can be refined and transported to other countries.

Cut the #$%$ and just stop dealing with the middle east. We have plenty of resources and we need the jobs !

Would that the gas produced in stateside refineries remain stateside, gas prices would not be high. Welcome to the free world market. If it is true that China counts more millionaires than the USA counts heads, then expect to be outbid on a lot of resources.

Release of oil from the SPR is useless and means the taxpayer has to replace the reserves at a high price than we paid. The effect last year was about 2 hours, until the oil traders determined that the amount was a drop in a bucket.

its a bunch of lies they just making money off of use the world is using less oil now then last year and the year before that it some kind of plan the come up with to slow the world down from using to much oil

It is always reassuring that the G20 is taking care of all the World...along with the IMF, World Bank, Bilderburgs, Tri Lateralists, Council on Foreign Realations, and the Federal Reserve....I wish our Elected Officials had the same resolve...

Why build a pipeline to refineries in the south? Why not build refineries in the north instead and then extend the TransAlaska pipeline to those refineries where we can also take on the additional oil from ANWR? Gasoline can be distributed to the northern states and thereby also improving the efficiency of distribution as well as eliminating the need to ship oil from Alaska thereby improving the efficiency in transport from the well head as well.

All other countries take care of their own first. Why do we insist on shafting our own.

The terrorists on wall street are just as bad and harmful as the terrorists in the middle east. Just like clockwork when some terrorist wants to cause some pain in the US they talk smack and their wall street terrorist buddies enthusiastically oblige with some real financial pain.

Environmentalists are licking their chops over higher gas prices as a vehicle to force Americans to go Green. What they fail to acknowledge is that there is no alternate way for the Transportation Industry to deliver goods and commodities. Higher Gas prices mean increased costs for everything including food.

Sure, gas prices are high and will likely go a lot higher in the very near future. But, those blaming obama seem to be missing the big picture.
Sure, obama shoulders most of the blame because he ordered a drilling moratorium a couple of years ago. However, the real problem is profiteers who are speculating that (another) war in the middle east will curtail supply and drive up the cost of crude.
And the main reason why there is so much speculation? Because both parties in congress seem to be hellbent on going to war with Iran.
Eliminate this threat of war and the price of oil, gas, etc, will come crashing down.

Let's drill our own #$%$ oil and sell it ONLY in America. But no, let's pay $5 a gallon so that the middle class has to suffer even more. So long recovery, hello recession, or should I say depression.

Its not hard to tell who works at what and their age group by most of the comments , but seriously I gotta see some big o boys in construction business fit in a chevy volt or prius and try to get themselves and their tools of the trade to work that otta be real funny to watch

Turbo Tax Geithner said...I didn't cheat I used Turbo Tax.

Deja vu all over again, nothing more, nothing less. Just think of it as a "bank"fire that has to burn itself out, because all the "firemen" are too busy stealing the money. while they can.

Uhhh...so they are saying Obama made this one up on the fly and has not coordinated with anyone?

The OIL INDUSTRY is a monoply that controls all aspects of the industry and product.Do you think it is a free market? They extract, refine, ship, wholesale, retail...any independants are driven away as they have to buy the product from--guess who?? The Oil Industry only owns infrastuctures and hardly ANY land which is mostly leased. How many Gas Stations are independantly owned?? Rockefeller Standard Oil monopoly was broken up in 1913-look it up?--How did that work out???

anyone mind telling me what in heck are we saving our reserves for if not times like this...how long do you stock pile to save for bad times...newflash...its a bad time...release the reserves