I guess the Saudis did not come to our rescue after all.

(Reuters) - Britain has decided to cooperate with the United States in a bilateral agreement to release strategic oil stocks, two British sources said, in an effort to prevent high fuel prices derailing economic growth in a U.S. election year.

A formal request from the United States to the UK to join forces in a release of oil from government-controlled reserves is expected "shortly" following a meeting on Wednesday in Washington between President Barack Obama and Prime Minister David Cameron, who discussed the issue, one source said.

Britain would respond positively, the two sources said.

"We regularly consult with the British on energy issues and any discussion that we had was in that context. We will continue to monitor the situation and consult with them and others," an Obama administration official said.

Rising world oil prices have pushed U.S. gasoline prices up sharply this year and threaten to choke economic recovery ahead of Obama's bid for re-election in November.

Did we use up all the Iraqi oil already..?? 😕

I don't think it'll come to this (at least not until AFTER Obama's re-election anyway) but I wonder how much the average American can afford to pay per gallon at the pumps before chaos ensues? Didn't the Energy Secretary (Foo Man) Chu want it at European levels ($8- $9/gallon) before he recently recanted? 🤥

That's one way of scaling down gas consumption. Bring back the bicycle.

The best way to reduce emissions is to increase the cost of gas. But people don't want that either. It's like people want to be socially responsible if it costs them very little or if it directly helps them (regardless of the cost to others).

Drill the Glades..!! 👍

[quote=bloody spaniard]I don't think it'll come to this (at least not until AFTER Obama's re-election anyway) but I wonder how much the average American can afford to pay per gallon at the pumps before chaos ensues? Didn't the Energy Secretary (Foo Man) Chu want it at European levels ($8- $9/gallon) before he recently recanted? 🤥

That's one way of scaling down gas consumption. Bring back the bicycle.[/quote]

Ahem...the Europeans pay that much for a LITER of fuel! A gallon would be more close to 3 times that amount!#-o

[quote=DrMaddVibe]Ahem...the Europeans pay that much for a LITER of fuel! A gallon would be more close to 3 times that amount!#-o [/quote]

300% more seems unintuitive. I doubt that is what europeans generally pay.

[quote=DrafterX]Drill the Glades..!! 👍[/quote]

Get that oil into the Loop Current all the way up the U.S. east coast; risk damaging Florida's beaches/biggest industry- tourism!

Drill through the polar bears head if he don't get out of the way.

[quote=rfenst]300% more seems unintuitive. I doubt that is what europeans generally pay.[/quote]

I think a lot of the out-of-whack pricing on the European market is taxation for their many and varied socialist programs.

[quote=snowwolf777]I think a lot of the out-of-whack pricing on the European market is taxation for their many and varied socialist programs.

[/quote]

Which they still can't afford.... dare I say Portugal, Italy, Greece, Spain? PIGS!

[quote=dubleuhb]Drill through the polar bears head if he don't get out of the way.[/quote]

[-x 😳 😳 😳

[quote=raymallen]Which they still can't afford.... dare I say Portugal, Italy, Greece, Spain? PIGS! [/quote]

You left off Ireland & a few more even less significant countries.

Btw, not to belabor Spain's status because they will eventually fall thanks to their socialist government but they have the 4th largest economy in the EU & a debt load LOWER than Germany's (thanks in part to creative bookkeeping- lol). Forget about Greece, which is just a notch above Albania, once the Spanish go into default the EU "sabra lo que es canela"... 🙏

[quote=rfenst]300% more seems unintuitive. I doubt that is what europeans generally pay.[/quote]

Use the google...while you're at it look for a conversion table for English to Metric!

Here is my solution to high gas prices, I am sure I will find lots of support for my unique way of dealing with $5 gas.

I propose that the Government create the Nationalized Employment Exchange Department (NEED) where the people that work in a town in which they don’t live exchange jobs so they can work in their hometowns. Let’s say I live in Schaumburg IL and I work in Deerfield Il, and that you live in Deerfield but work in Schaumburg, the NEED Czar would issue an edit that you and I switch jobs so we would reduce gas consumption and in turn minimize greenhouse emissions, and improve our own personal carbon foot print.

NEED would implement this program through the Employment Relocation Act (aka Obamajobs).

Currently unemployed, under-employed and those that have dropped off the unemployment dole will not qualify for this new exciting program. Those people will have to pay a yearly fine (similar to Obamacare) which would be equivalent to current FICA rates to help support future SS payments for refusing to “get a job”. Also any worker refusing the NEED Obamajobs program will be subject to an additional surtax on wages to help fund the program.

City, State and National Government employees would of course be exempt from any of these programs.

[quote=itsawaldo]Here is my solution to high gas prices, I am sure I will find lots of support for my unique way of dealing with $5 gas.

I propose that the Government create the Nationalized Employment Exchange Department (NEED) where the people that work in a town in which they don’t live exchange jobs so they can work in their hometowns. Let’s say I live in Schaumburg IL and I work in Deerfield Il, and that you live in Deerfield but work in Schaumburg, the NEED Czar would issue an edit that you and I switch jobs so we would reduce gas consumption and in turn minimize greenhouse emissions, and improve our own personal carbon foot print.

NEED would implement this program through the Employment Relocation Act (aka Obamajobs).

Currently unemployed, under-employed and those that have dropped off the unemployment dole will not qualify for this new exciting program. Those people will have to pay a yearly fine (similar to Obamacare) which would be equivalent to current FICA rates to help support future SS payments for refusing to “get a job”. Also any worker refusing the NEED Obamajobs program will be subject to an additional surtax on wages to help fund the program.

City, State and National Government employees would of course be exempt from any of these programs.

[/quote]

Ahem...the SEIU and other large labor unions will HAVE to be exempt too!

Le Hockeydad has returned!

[quote=bloody spaniard]You left off Ireland & a few more even less significant countries.

Btw, not to belabor Spain's status because they will eventually fall thanks to their socialist government but they have the 4th largest economy in the EU & a debt load LOWER than Germany's (thanks in part to creative bookkeeping- lol). Forget about Greece, which is just a notch above Albania, once the Spanish go into default the EU "sabra lo que es canela"... 🙏 [/quote]

I'm in an investment fund at my university with a few select students who over see a 280k portfolio. We were discussing ways to profit from Greek default today haha.

Are you interested in gas? It all started when I was just thirteen years of age. One day while walking with some friends I accidentally cut the cheese. Well, in my adolescent awkwardness, I blamed it on an old gypsy woman who happened to be passing by. Big mistake! The gypsy woman placed a curse upon my head. Because I had smelt it, she decreed that I would forevermore be... he who dealt it!

[quote=DrMaddVibe]Use the google...while you're at it look for a conversion table for English to Metric![/quote]

Bloomberg says: between $8 and $8.50 per GALLON.