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Re: Oil Price Up

By: clo in POPE | Recommend this post (0)
Wed, 20 Apr 11 6:58 PM | 65 view(s)
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Msg. 35574 of 65535
(This msg. is a reply to 35567 by DGpeddler)

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In part:

Markey Pushes House Support for Oil Reserve Option
WH Says SPR Deployment on Table; Markey Includes Oil “Swap” in Reserve as Additional Tool
Mar 7, 2011

Right now, the Strategic Petroleum Reserve holds 727 million barrels and is filled to capacity. Releasing even a small fraction of that oil could have a significant impact on speculation in the marketplace and on prices. It would also remind the world that the U.S. is ready, willing and able to use the SPR aggressively and effectively if needed. The FY2012 budget request already proposes a “$500 million non-emergency sale of SPR oil.” On March 6, 2011, White House Chief of Staff William Daley stated on Meet the Press that “the issue of the reserves is one we’re considering.” We applaud the fact that your Administration is considering utilizing this tool and we encourage you to do so.

http://democrats.naturalresources.house.gov/press-release/markey-pushes-house-support-oil-reserve-option




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The above is a reply to the following message:
Oil Price Up
By: DGpeddler
in POPE
Wed, 20 Apr 11 6:03 PM
Msg. 35567 of 65535

A fall in the quanity of oil and gas on hand has the prices shooting up.


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