I don't know where they come up with "Strategic Petroleum Reserve". The original name was National Oil Reserve. Another example of re-writing history, especially by the very organization that supposedly started it. They go on to state "The need for a national oil storage reserve has been recognized for at least five decades." Yeah, really?
I said "quickly". From 2001 to 2008 is only 7 years. Gas was up to $4/gallon well before 2008, here. I moved to my current location in 2003 and gas was already $3.40 a gallon. From ~$2.25 to ~$3.25 is a 30% increase in price.
According to you our demand is higher for oil? You really believe that we burn more oil today than we did 5 years ago? Production/industry is down, workers are being laid off and not traveling. Fleet vehicles are being mothballed/sold, etc. People don't use airlines as often. We are using less fuel today than we did a few years ago.
So, why is OPEC increasing prices again?
The Essentials of OPEC- Oil Prices and Production
According to that site, its because other 3rd world countries need oil. If we produce so much oil that we can afford to sell it, why don't we just keep it in our own country and pay less for gas? Easy, the oil barons (worldwide investors) wouldn't be rich. Again, this Obama BS has nothing to do with helping America. Its helping the corporations, once again.
It all started with Bush.... "...is still suffering reduced oil output due to a strike believed by Hugo Chavez to have been instigated by Bush operatives. ALL these factors can be traced to Bush's inflammatory, destabilizing global policies. In addition, Bush insisted on transferring oil to the SPR at a time when stockpiles were at their lowest in THIRTY YEARS."
March '04:
"The reserve is supposed to be kept at a suggested minimum level and replenished when prices are low and drawn down when oil prices are highest. Clinton made great progress in reducing the deficit and global oil prices by buying oil for the reserve when prices were low. Bush, by contrast, allowed the reserve to unnecessarily dive to its lowest point in three decades, then recently began replenishing the supply when oil prices hit their highest level in months, driving prices even higher for US consumers. Guess who benefits on this deal? Yep! His pals in the oil industry. This is not just a fraud against taxpayers, this is downright TREASONOUS! Read more about the SPR at
http://www.ncseonline.org/NLE/CRSreports/energy/eng-23.cfm#_1_1 "