The last time Obama ordered oil to be released from our strategic oil reserves, it had a notable effect on gas prices. They were lowered by an average of THREE CENTS A GALLON.(Reuters) - Britain is poised to cooperate with the United States on a release of strategic oil stocks that is expected within months, two British sources said, in a bid to prevent fuel prices choking economic growth in a U.S. election year.
IMHO, this is not a smart move by Obama. Yes, he is under pressure, perhaps unfairly, over the price of gasoline, but I believe that he is screwing the pooch here, because not only will this have a minimal effect on gas prices, but will deplete the strategic oil reserve which, in a time of crisis, will have an adverse effect on our national security.
Article is here.