FuelClub Discount

Democratic presidential candidate Barack Obama’s plan to release oil from the U.S. Strategic Petroleum Reserve may lower crude and gasoline prices in the short term, but it could also leave the United States more vulnerable in a supply emergency.

Obama called this week for easing fuel prices by releasing some 70 million barrels of light, sweet crude from the nation’s stockpile and swapping it for less expensive heavy, sour oil.

The hope is that putting more oil on the market will push down crude prices and those savings will be passed on to consumers at the gasoline pump.

(more…)

It was interesting to hear US President George Bush, a failed businessman who destroyed the economy his country and took the world hostage to an illegal war that should have never happened.

President Bush urged Congress today to permit drilling for oil off America’s coasts — on the outer continental shelf — to combat rising oil and gas prices. This is the biggest set up in the history of the world.

When Bush took over Whitehouse in 2001, gasoline price hovered between $1 and $2. Today it is between $4 and $5. This is how Bush and his adminiostration helped the oil price rise:
(more…)

As President George W. Bush arrives in Saudi Arabia today, his second to the Kingdom within the year, to formally commemorate the 75th anniversary of the establishment of the deep rooted, multifaceted Saudi-US relations, oil is reported to be very much up on his radar. Indeed with oil prices hovering around historic heights and talks of economic recession and stagflation in virtually every one’s dictionary, it would be naive to expect that when the leader of world’s largest oil consumer and the leader of the world’s largest exporter sit down for a face to face meeting, the issue would not be on agenda.

And the White House admits so. Spokeswoman Dana Perino told the press before the president embarked on his regional tour that President Bush will raise the issue of high oil prices and their negative economic impact when he visits Saudi Arabia today. Reports emanating from Washington very much emphasize that when the leaders of both the countries meet; George W. Bush would rake up the issue of boosting crude production further with his hosts.

It is understandable, the US leader, a former oil company executive, is especially eager to avoid spiraling oil prices in the months leading up to the November presidential election, which could scuttle presumptive Republican candidate John McCain’s hopes to succeed Bush in the White House.
(more…)