Strategic Oil Reserves (SPR) could change the way Presidential elections are expected to proceed

Obama’s approval rating has hit an all-time low and according to sources the expectation is that Republicans will replace the Democrats in the White House post November as Romney continues gain pace and votes in a neck to neck battle with Santorum in one state after another in the primaries that will eventually decide the next presidential hopeful. The situation is turning more against Obama with regards to his re-election because of the rising oil prices which although unaffected by inflation are causing a lot of inconvenience to the poorest of Americans. Obama’s inability in handling the situation is ironic when contrasted with the approval and confidence he had received from the public when he replaced Bush. While Obama has yet followed in his predecessors footsteps, the need of the hour before November this year is to abate the rising prices if Democrats hope to have any chance at getting reelected.

In hope of this, some Democrat lawmakers are gathering the support of Congressmen to persuade Obama to allow the SPR to be used which would abate the much worrisome oil prices. With the recent announcement and subsequent roll back of a strategic agreement regarding oil reserves caused a successive fall and rise in oil prices exhibiting the volatility and sensitivity of the prices with change in political strategic choices. Realizing this market sensitivity which also has the ability to tap into the public opinion, Democrats are doing all they can to turn the tables in their favor.

However, the point that clearly needs to be noted by Americans to make an informed choice about who to vote for is the contention the entire idea presents with respect to SPR. According to the SPR website, there are about 695.9 million barrels of oil currently stored in America’s oil reserves that are considered to be the largest in the world. However, based on the daily usage and consumption patterns of Americans this oil will only last about 36 days which isn’t a lot considering the hoopla that it is being made out to be.

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