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Obama releases 30 million gallons from 676 million gallon emergency oil reserve; gasoline prices go down at the pump. Did he do right or wrong?

2011-07-03

As has been noted by other bloggers, President Obama has ordered the release of 30 miilion gallons of oil out of the 600-700 million gallon emergency oil reserve, and gasoline prices go down at the pump.
First, the President had the authority to order release of oil from the reserve, based on 3 major caveats, which have been enumerated elsewhere. Please note that he had the sole authority to order oil release, and the language of his authority states that if the the conditions are met “In the President’s judgement.” The president’s judgement. Not the judgement of a Tea Party enthusiast who criticises everything Obama does on the slightest provocation. It’s not your call, blogger. So don’t try to second guess the President. I’m willing to suppose that his IQ is higher than yours (his is 127.)

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