Obama's Oily Desperation Redux

On Thursday, Reuters reported that Britain and the U.S. have reached an agreement to release oil from the nations' oil reserves. The report states that the idea originated with the Obama administration and that "Britain would respond positively" to a formal request.

The report was immediately denied by a White House spokesman and questioned by some oil analysts.

Such a move would be a reprise of a similar failed effort less than a year ago. However, given pressure from Democrats and bad polling for President Obama on fuel prices, the initial report is easier to believe than the White House's denial. Indeed, the denial did not say that this was not a topic for discussion between Barack Obama and British Prime Minister David Cameron, but simply that there was no actual agreement.

The burst of activity, including how quickly the administration had a response ready, had the distinct air of a "trial balloon," something that panicky administrations resort to when out of ideas.

Please read the entirety of my article for the American Spectator:
http://spectator.org/archives/2012/03/16/obamas-oily-desperation-redux

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