GOP kill bid to release U.S. reserve oil WTF?!

GOP kill bid to release U.S. reserve oil WTF?! (Full Version)

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Owner59 -> GOP kill bid to release U.S. reserve oil WTF?! (7/25/2008 7:14:18 AM)
http://www.dailyrecord.com/apps/pbcs.dll/article?AID=/20080725/BUSINESS/807250326 This reserve, created by the benevolent and far thinking President Carter for these very reasons,is being held back from release,by republicans. This should just about kill any notion that republicans want to reduce gas prices or are on the side of American families and small business. How are the republicans going to explain this away,come November?

housesub4you -> RE: GOP kill bid to release U.S. reserve oil WTF?! (7/25/2008 7:40:08 AM)
Simply 9/11!! 9/11!! Oh wait, Rudy was just doing an interview. They will simply say we need it to fight terrorism, something Obama knows nothing about.

slvemike4u -> RE: GOP kill bid to release U.S. reserve oil WTF?! (7/25/2008 7:48:24 AM)
The oil reserve was not created for "these very reasons",it was created so the nation would have a ready supply in case of emergency.Rising prices at the pump do not qualify as an emergency in my mind

pahunkboy -> RE: GOP kill bid to release U.S. reserve oil WTF?! (7/25/2008 7:55:35 AM)
The reserve is only 60 days of oil. I agree with the GOP. Full capacity is 90 days. Which IMO is low. Currently we are not adding to it- that much I support.

slvemike4u -> RE: GOP kill bid to release U.S. reserve oil WTF?! (7/25/2008 7:57:11 AM)
Would that be 60 day's normal peace time use,is there a seperate reserve for the military?

pahunkboy -> RE: GOP kill bid to release U.S. reserve oil WTF?! (7/25/2008 8:03:06 AM)
I dont know I had posted the link to it. I think it is too localized to TX/LA. hmmm good quesiton

Owner59 -> RE: GOP kill bid to release U.S. reserve oil WTF?! (7/25/2008 8:03:17 AM)
http://washingtontimes.com/news/2008/jul/22/pickens-sounds-alarm-over-energy-policy/ I`d say this was a crisis and on many levels. And what would be the harm? ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ When I see the ass-clown oil executives w/ their shit-eating grins, talk about market forces and supply/demand theory,the notion is that when supply decreases,the price goes up. They raise their hands and say,"there`s nothing we can do" $~cha-ching~$~cha-ching~$ ~~~~~~~~~~~~~~ The reserve was created for just such a time as this one.Let`s increase supply. What is the down side? This is certainly not as risky as starting an international war and a civil war in the middle east(which is why oil was 10 bucks a barral in '98',and $150 today).

housesub4you -> RE: GOP kill bid to release U.S. reserve oil WTF?! (7/25/2008 8:05:09 AM)
I think, though I may be wrong on this, but the military has there own reserve, this one was set up to keep commerce moving if we ever got cut off from our oil supply

pahunkboy -> RE: GOP kill bid to release U.S. reserve oil WTF?! (7/25/2008 8:06:17 AM)
the harm is that we them wont have it if war breaks out. say if Iran blocks the straight of hormuze. a hurricane wipes out Houston, or poor people riot simotaniously.

housesub4you -> RE: GOP kill bid to release U.S. reserve oil WTF?! (7/25/2008 8:07:37 AM)
I thoguht we are in a war? Did we pull out while I was drinking last night?

slvemike4u -> RE: GOP kill bid to release U.S. reserve oil WTF?! (7/25/2008 8:16:06 AM)
The reserve is for a national calamity...if you see rising costs at the pump as a calamity your priorities are not the same as mine..no one likes paying these prices,but a calamity it is not

Archer -> RE: GOP kill bid to release U.S. reserve oil WTF?! (7/25/2008 8:18:38 AM)
A lack of planning on the part of the government does not constitute an emergency. The shortfall has been predicted for 20 years or more and the government has done nothing to decrease our dependance on foreign oil, in fact they have increased it. That's not an emergency, that's trying to bail themselves out of a PR jam.

Anarrus -> RE: GOP kill bid to release U.S. reserve oil WTF?! (7/25/2008 8:21:19 AM)
quote: ORIGINAL: slvemike4u The oil reserve was not created for "these very reasons",it was created so the nation would have a ready supply in case of emergency.Rising prices at the pump do not qualify as an emergency in my mind Agreed, if this discussion is about the strategic emergency oil reserves. The reserves at capacity (last time I checked they weren't...700,000,000 barrels...source= http://www.spr.doe.gov/dir/dir.html) are at best a 2 month supply. The US consumes roughly 22,000,000 barrels per day....do the math ...31.85 days worth of oil. If we use up the reserves now, how much is it really going to drive pump prices down? Also what happens if the reserves are used and then a real national emergency erupts? Personally, I'd rather deal with high gas prices and have a supply of oil in reserve when we really need it. Anarrus

christine1 -> RE: GOP kill bid to release U.S. reserve oil WTF?! (7/25/2008 8:27:28 AM)
i don't know how a 60-90 day supply of oil is going to help anything out in the long run, eventually it will run out and we'll be back to where we are now in 2-3 months plus we won't have an emergency reserve left. if they would start drilling the huge amounts of oil shale that are out here in the west and drilling for the oil we know we have, we'd be set for a long time and not have to rely on the middle east. yes, it would take time to get everything up and rolling but the sooner we start the sooner we can be a little more self reliant as a nation, at least as far as oil goes. it might also help if there wasn't such a monopoly among the existing oil companies...let some new companies come in and drill and create more competition and the prices would come down. i'm sure the saudi's would panic if they thought we wouldn't be so reliant on them for their oil and their prices would come down as well. i dont' get why the government thinks that relying on other countries for our needs is such a good idea, especially now that we're at war in the middle east and it seems that we'll be upping the ante in afghanistan and maybe iran too.

DomKen -> RE: GOP kill bid to release U.S. reserve oil WTF?! (7/25/2008 8:29:13 AM)
The Strategic Petroleum Reserve is not tasked to any specific circumstances. It cannot handle a complete loss of oil imports since it cannot be pumped fast enough. We import about 12 million barrels a day and the reserve can only be pumped out at 4.4 million barrels a day. It is almost full, max capacity 727 million barrels present amount held 708+. So we could empty it in about 160 days. We could however put a million barrels a day on the market for a few months to try and moderate oil prices or at the least reduce the deficit and possibly pay down the debt. Note that the SPR is entirely crude oil and therefore is of no use if something happens to the Texas and louisiana areas that contain most of the nations refineries. The actual SPR sites are also located in that area so anything shutting down those refineries would likely reduce how many of the SPR sites could actually pump crude.

Owner59 -> RE: GOP kill bid to release U.S. reserve oil WTF?! (7/25/2008 8:50:15 AM)
quote: ORIGINAL: christine1 i don't know how a 60-90 day supply of oil is going to help anything out in the long run, eventually it will run out and we'll be back to where we are now in 2-3 months plus we won't have an emergency reserve left. if they would start drilling the huge amounts of oil shale that are out here in the west and drilling for the oil we know we have, we'd be set for a long time and not have to rely on the middle east. yes, it would take time to get everything up and rolling but the sooner we start the sooner we can be a little more self reliant as a nation, at least as far as oil goes. it might also help if there wasn't such a monopoly among the existing oil companies...let some new companies come in and drill and create more competition and the prices would come down. i'm sure the saudi's would panic if they thought we wouldn't be so reliant on them for their oil and their prices would come down as well. i dont' get why the government thinks that relying on other countries for our needs is such a good idea, especially now that we're at war in the middle east and it seems that we'll be upping the ante in afghanistan and maybe iran too. Ok.put this in human terms. You make a thousand bucks a week,but are still not paying your mortgage on time. A "60 day supply" of pay, would be 12,000 dollars. The idea is to take a small part of that 12 grand(60 day supply) say 200-300 bucks a month and spread it out over several years. That would be enough to get you through,till you could make better/other arrangements. We should take a small part of the reserve,not the whole thing and increase the supply. Not live off of it. ~~~~~~~~~~~ Democrats are also pushing a bill, that would require that oil companies w/ land leases,fully exploit those un-tapped resources on that land. I hear there`s 20 times the amount of oil or more on that already leased land,then there is in ANWR. But the oil companies want to hoard that oil and just get more land,more untapped resources,more subsidies ,etc. and at our expense. Guess who`s resisting that law? Big oil doesn`t want the reserve released either. Coincidence?

Thadius -> RE: GOP kill bid to release U.S. reserve oil WTF?! (7/25/2008 8:53:50 AM)
Uhm.... wouldn't the answer to your question be the same as the reason why the gas tax holiday didn't catch ground amongst Congress? It would only be a temporary band aid, and would wind up putting us in an even worse position at the end of it. Besides there has been an increase in suppy, because Bush ordered as of July 1st that no more would be added to the reserve, thus opening up those barrels for public consumption....

Thadius -> RE: GOP kill bid to release U.S. reserve oil WTF?! (7/25/2008 9:04:54 AM)
quote: ORIGINAL: Owner59 Democrats are also pushing a bill, that would require that oil companies w/ land leases,fully exploit those un-tapped resources on that land. I hear there`s 20 times the amount of oil or more on that already leased land,then there is in ANWR. But the oil companies want to hoard that oil and just get more land,more untapped resources,more subsidies ,etc. and at our expense. Guess who`s resisting that law? Big oil doesn`t want the reserve released either. Coincidence? Current law requires that they use it or lose it, in relation to the land leases. Why won't the Dems allow for new leases in places like Colorado, where it is known that we have more oil than Saudi Arabia in the form of oil shale? Why have they blocked every proposed new refinery? Why have they repeatedly used the "we won't see any benefits for 5-10 years from increased drilling"? Oh and just out of curiousity, why have oil prices doubled since Pelosi and the gang took control of Congress? You do realize that those land leases that are being referred to were entered into without knowing if there was oil or not? Oh and to the point about oil companies just wanting to horde more land, if there was oil don't you think they would be bringing it to market with the record high prices per barrel? I thought these companies were only interested in profits and making more money, wouldn't the HIGHEST prices ever be a good reason to bring an extra hundred thousand barrels into the market?

christine1 -> RE: GOP kill bid to release U.S. reserve oil WTF?! (7/25/2008 9:07:41 AM)
owner, i see your points but honestly i dont' know if it would work, if it would then i'm all for it as long as we don't use it all up. i dont' know who is trying to stop what other than big oil and the environmentalists and it seems both the democrats and the republicans have their heads up their asses about our current problem with oil and gas prices and honestly i don't know if they really care enough to really fix it. i've also heard that just the oil shale in the west would produce trillions of barrels of oil. personally, i think big oil has and will continue to have it's money in the pockets of whoever wins in november and things aren't going to get any better with a new president. hell, pelosi promised a few years ago when gas was below 2 bucks a gallon that she and the dems would take care of the problem and it's only gotten worse. i'm not laying blame on either party exclusively because they're both at fault. i do believe that we need to drill our own and be self reliant but when political agendas and pockets full of big oil money are more important than what is good for the country, i dont' see how it will ever be resolved.

Archer -> RE: GOP kill bid to release U.S. reserve oil WTF?! (7/25/2008 9:11:32 AM)
The use them or loose them argument about on land oil leases is a non starter once you get past the sound bites. Federal regulations already say the leases last 10 years (if I recall correctly) and after that they go back out for open bids. So it's already use them or loose them (assuming there is enough potential for anyone to actually want the lease you didn't use).

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