Oil falls to $114 as Obama Admin considers releasing 'strategic reserves'.........AGAIN?

Oil falls to $114 as Obama Admin considers releasing 'strategic reserves'.........AGAIN?(Yahoo).

Already now Obama authorized the biggest releases ever : 30,640,000Bbls !More than Desert Storm and Hurricane Katrina releases combined.

LONDON (Reuters) - Brent crude oil fell to around $114 on Friday after the United States said it was considering the possible release of oil reserves to dampen prices and the Israeli president spoke out against any lone Israeli attack on Iran.
  News the White House was "dusting off old plans" for a potential release of strategic oil stocks helped knock more than $1 per barrel off Brent, which hit a three-month high on Thursday. The global benchmark has risen more than a third in less than two months on worries that conflict over Iran's disputed nuclear program could lead to war, disrupting oil supplies from the Middle East. But the oil price rally has come at a time when world economic growth is slowing, dampening demand for fuel, and oil supplies have been ample, helping restock inventories, and many investors feel the recent price rises have been overdone. Weinberg said reports of a potential stocks release could prompt investors to sell long positions, hitting oil prices. "Oil prices may well have reached their peak for the time being. That said, supply shortfalls in the North Sea and geopolitical tensions in the Middle East will preclude any sharp decrease in prices."
U.S. officials will monitor market conditions over the coming weeks, watching whether gasoline prices fall after the September 3 Labor Day holiday, in line with usual practice, a Washington source with knowledge of the situation told Reuters. Britain's energy ministry said on Friday it was ready to ask the IEA to take action to deal with high oil prices, but neither it nor its partners had made any decision to release stocks. Japan and South Korea saw no need yet for a release from reserves, government sources said on Friday. Oil market analyst Olivier Jakob at Swiss consultancy Petromatrix said talk of the release of strategic oil stocks would probably have only a very short-term market impact. "It will not be a long lasting solution to wars on oil producing countries and liquidity injections," Jakob said. Investors are now looking for indications on whether the U.S. Federal Reserve will initiate more measures to stimulate growth, with data still suggesting that the world's biggest economy hasn't reached a stage of steady recovery.Hmmmm.....Anything for a vote?Already now Obama authorized the biggest releases ever!More than Desert Storm and Hurricane Katrina releases combined.BUYING VOTES!!!Question: "Have the previous released 'reserves' already been replaced and HOW much did it cost to replace them?"Read the full story here.