Why is last week's surprise release of 60 million bar rels of oil from govern ment reserves bad news? Because it's the West's -- and President Obama's -- last hope to goose the economy. Obama and European leaders are so desperate that they'll even promote burning cheap hydrocarbons -- they'd rather save the banks than the planet.
Worse, they're still bent on avoiding post-bubble reality.
America, Germany, France, Spain, Japan and Italy dropped their bombshell Thursday. Over a month, they'll draw on emergency oil reserves, with America providing half the supply.
