RUSH: Obama has just announced that the United States and Britain are going to release oil from their Strategic Reserves. I didn't even know that Cameron was up for reelection. I did not know that he was up for reelection. That's why Obama's doing this. This is going to have absolutely no impact whatsoever. It is a purely political move from the guy who says, "We can't drill. We can't drill fast enough, can't drill soon enough." What does that mean? If we can't drill what it means is putting more oil on the market isn't gonna matter at all. Besides, if we drill we can't put any oil on the market for two to three years, so we're going to deplete the Strategic Oil Reserve.
We don't have an emergency. There is not a shortage. We are exporting gasoline. Do you know that, folks? We are a net exporter now of gasoline. As you go to the pump and you see the price rise, we have a net-exporting-of-gasoline position now. Part of this is due to refining capacity around the world and a number of other things. There's not an oil shortage. There's not a crisis. This is simply a flailing attempt to try to get the price down. If you're gonna do this, do this in October, not now. Folks, I'm gonna tell you something. Doing this now, releasing oil from our Strategic Reserve is a sign, I think, of pure panic. I think the truth of the matter is the left is in a state of panic.
Why export oil, then? Why don't we keep it for ourselves???
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