8-21-12

A Shameful Management of the Country's Resources   The Obama Administration is again considering use/misuse of the nation's Strategic Petroleum Reserve, designed to be used in a national emergency.  The average price per barrel paid for the SPR oil is less than $30.  Today's price hovers around $100.  (Could the real motivation be arbitrage?) At the same time, this month the Obama Administration announced the BLM plans to essentially lock up the National Petroleum Reserve-Alaska (NPR-A) at the same time the USFWS hopes to recommend wilderness designations for the approved oil [...]