Sunday, May 20, 2012

U.S. to seek G8 support for oil reserve release: Kyodo



What Peak Oil?!


WASHINGTON/PARIS, May 16, 2012 (Reuters) — U.S. President Barack Obama will seek support to tap emergency oil reserves from other Group of Eight leaders at a summit this weekend before the European Union's July embargo of Iranian crude, Kyodo news agency reported on Wednesday.

The report suggests that a slide in oil prices to their lowest in months has not halted U.S. efforts to use strategic oil stockpiles to offset diminishing exports from Iran, which is facing tough new sanctions on its oil industry....


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