- Source: White House “dusting off old plans” on potential reserve release due to price rise
- White House will be monitoring market in coming weeks
- Wants to see if prices fall after Labor Day
- Driving force on decision is impact of prices on economy
- White House believes logic behind release is equally or more true than in the spring
- Too early to say how large release will be
The White House is trying to talk down oil to make sure Obama gets re-elected. The market has been slow to pick up on this (or doesn’t believe Obama has the guts to do it right before the election), no change in oil so far at $95.70/barrel.
Update: the full story is now online
