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Is the White House The New Fed of Oil?
Clayton/Sharenow, Forbes
With oil prices climbing, the Obama administration has continually reminded Wall Street that the president might dip into the Strategic Petroleum Reserve (SPR), the nation’s emergency oil stockpile, to help calm a painful rise in prices. Since February, President Obama, Energy Secretary Chu, Treasury Secretary Geithner and Interior Secretary Salazar have all stressed that the president, whose sole authority it is to tap the U.S. SPR, stands ready to sell oil from these government-http://www.realclearenergy.org/2012/10/19/is_the_white_house_the_new_fed_of_oil_249615.htmlcontrolled reserves onto the market at any time. Nearly all emphasized that the option to intervene...
With oil prices climbing, the Obama administration has continually reminded Wall Street that the president might dip into the Strategic Petroleum Reserve (SPR), the nation’s emergency oil stockpile, to help calm a painful rise in prices. Since February, President Obama, Energy Secretary Chu, Treasury Secretary Geithner and Interior Secretary Salazar have all stressed that the president, whose sole authority it is to tap the U.S. SPR, stands ready to sell oil from these government-http://www.realclearenergy.org/2012/10/19/is_the_white_house_the_new_fed_of_oil_249615.htmlcontrolled reserves onto the market at any time. Nearly all emphasized that the option to intervene...
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