TikkunHatzot,
Exactly. There’s no question that the government constantly covers up (after all, the bureaucratic solution to problems is to create more beuracracy). Consider the strong-arming of the Obama administration to maintain Triple-A ratings; thus, trying to enable more borrowing and less attention to the national debt. Think about Rahm Emanuels’ shocking statement that suggested government to take advantage of a crisis.
However, the risks outweighs the rewards in this case. The 2012 elections will be about the economy and national debt anyway (the GOP field isn’t really an experienced one in foreign policy besides Jon Huntsman). Obama would rather drill or open reserves to be re-elected. He’d rather ensure that inflation stops where it is right now. He’d rather bluff an economy (Clinton?!) than this.