Quote Originally Posted by Red Neckerson View Post
Study and learn:

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This was actually announced by Obama in late 2010, during the congressional election campaign, and well before Chu's announcement. The oil futures market tanked, as the speculators temporarily fled, and the price at the pump dropped.
Provide something educational please. You'll have to point out the futures market "tanking" in late 2010 and correlate it to Obama pronouncements:


http://www.dailyfinance.com/quote/ny...il-futures/~cl

The problem is a temporary 30bb barrel release isn't going to have a long-term, if even much short-term, effect on the overall price. Here at least is the news regarding the June 2011 release announcement:

Oil prices, which were already sliding Thursday, fell even further after the announcement."Oil prices are getting assaulted on two fronts today," said Kloza.In fact, oil and gas prices have been falling for the past several months. The price of a gallon of gas nearly broke $4 in May. Gas prices were selling at $3.61 a gallon Wednesday, according to motorist group AAA.
Most experts attribute the price declines to expectations of weaker demand as the economic recovery continues to slow.
http://money.cnn.com/2011/06/23/mark...ices/index.htm