Oklahoma-based Domestic Energy Producers Alliance is critical of decision to open oil reserve

The head of the Domestic Energy Producers Alliance panned the Obama administration's plan to sell 30 million barrels of oil from the nation's emergency supply.
BY JAY F. MARKS jmarks@opubco.com Published: June 24, 2011
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“We do not believe this decision will have a sustained impact on supply-demand fundamentals or on prices.”

U.S. Sen. Jim Inhofe, R-Tulsa, said President Barack Obama's decision to tap into the petroleum reserve shows the importance of increasing domestic energy production.

“Contrary to what President Obama likes to claim, we have plenty of resources here at home. In fact, we have 163 billion barrels of recoverable oil — that's 5,400 times more oil than what Obama wants to release from the (strategic petroleum reserve).

“The biggest impediment to developing these resources is this administration.”

Others also reacted similarly.

Rep. Tom Cole, R-Moore, said, “This is a bad decision driven by political considerations rather than sound policy. The Strategic Petroleum Reserve should only be used in cases of national emergency — not as a gimmick to artificially reduce gas prices. If the president truly wants to bring fuel prices down, he should stop blocking American energy production at every turn.”

Rep. John Sullivan, R-Tulsa, said, “There is no reason whatsoever the president should need to tap into the SPR when we have a 125-year supply of American made natural gas sitting right under our feet. All we have to do is use it.”

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