Drawing oil from the strategic reserve in the hope this would temporarily lower gasoline prices is a very bad idea. Some of the officials now calling for tapping the reserve were among the loudest in opposition to establishing the reserve. It exists for one purpose, to have oil available in case of a threat to our national security, not to be used to manipulate gas prices.
There is a way to push the price of oil down, which would be followed by less cost at the gas pump. All President Obama has to do is announce that drilling will commence in the Gulf, or if the world is informed that we are going to drill in Anwar or in some other areas now off limits. Oil prices are influenced by anticipation of the long term future, not on some action that would have little effect even in the short term.
Gasoline prices have risen 67 per cent since Obama was elected, and the increases this year will cost each household an average of 700 dollars more than last year.
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