Should oil be released from the Strategic Petroleum Reserve?

[Renew Deal]

The US uses 7.2 billion barrels a year. That is 20 million barrels a day.

The SPR contains 700 million barrels. Should it be released? How much should be released?

[etherealtruth]

1. If the "real problem" is lack of refinery capacity ...

... what will releasing reserve crude do? ... Except misleading people into believing that the chimp has done something.

[Richardo]

2. We have only 35 days in reserve?

Yeesh.

I say release some, but ground the SUVs.

You're only allowed gas if your vehicle gets oh, say 20mpg or better.

HA! I kill me!! :rofl:

[ThomWV]

7. No

We also have production. Just off the top of my head, because there's really no reason to go look it up, we consume about 22 million barrles on a heavy day and produce about 9 on any day. Odd as it may sound we still export some oil.

The Strategic Petroleum Reserve is just that, a reserve which may be tapped to augment domestic production in the event of national emergency (which would seem to me disruption of imports).

[SammyWinstonJack]

15. You people kill me.

So all you DUers who don't get over 20mpg, park your vehicles, you gas hogs :eyes: Hoof it to your jobs and if that's too far to walk and you lose your jobs, well then you'll really be conserving gas. Happy now? Not everyone can afford to dump their cars and run out and buy a hybrid or a better fuel efficient vehicle. But that doesn't matter to those bashing the SUV owners, as if those are the only vehicles that get crappy mileage! Guess what, we own an SUV but it's driven 40 miles/wk round trip and that's all it's driven. Guess we aren't extreme gas users are we? And :rofl: right back atchya.

[Richardo]

17. A little sensitive are we?

I'm driving a 12-year old standard transmission subcompact that gets about 30mpg. So 'affording' is not the issue. I can't afford a hybrid either.

Geez. If you know you're not part of the problem, then why get all undie-twisted about it?

[Ready4Change]

3. No.

Its for National Defense.

Not Profit Defense, nor Approval Rating Defense.

[DemocratSinceBirth]

9. It's To Be Used In The Event Of A Natural Disaster...

It's a psychological salve....

If people think shortages are inevitable they will horde gas and create the shortage they hope to avert....

I could care a whit about Bush*'s popularity...

[booksenkatz]

4. No. The entire country needs a hard-hitting wake-up call

The sooner we get folks to wake up, the sooner we can figure out an alternative. Releasing oil from the SPR just puts off the inevitable.

Just saw a poll a few days ago where 80% of Americans say that they plan to stick with their leisure travel plans this weekend. So I guess the prices aren't high enough.

[yashuryabetcha]

8. thumbs up...

to you!:)

[iconoclastNYC]

5. It's amazing that these national security types...

Didn't increase the strategic reserve.

We should at least have a billion in reserve if we're goign to have another episode of "Dick and Dubya's Excellent Middle Eastern Adventure"

[yashuryabetcha]

11. OMG

perfect title!!!!!!!!!!!!!! thanks for the laugh!

[Igel]

19. You missed the news.

One of the claims last year was that *'s buying oil for the strategic reserve was one of the factors driving up the per-barrel price of oil.

It was a false assertion, but the presupposition was true.

And he got a fair amount of flak over it from some quarters.

[K-W]

6. Not until we are under a conservation plan.

Using your emergency reserves while you are still wasting energy like nuts is ludacris.

First we must stop wasting energy, then, perhaps, if we still need it, we can use emergency reserves.

[GOPisEvil]

10. If we can't refine it, what's the point?

[Viking12]

18. About 1/2 of all our imported oil comes through Port of NO

So even though the primary bottleneck is the lack gasoline caused by the 8 closed refineries, there will eventually be an oil supply problem for those refineries still in operation up river.

[FSogol]

12. Remember how the Repubs

cried when Clinton released oil from the reserves to cut prices? Now its a hollow gesture. The refineries are shut down. I wonder how many refineries and drilling operations are closed for the storm and how many are shut-down ala Enron and the California "Electricity Shortage"?

[Igel]

21. I don't know if I agree with releasing the oil or not.

The question isn't prices, for me: that's the fastest way to increase conservation. The very poor will take public transportation more than the rich and middle class, and are less likely to live in the midst or the outer fringes of urban sprawl. Some poor will be hit; but overall, it'll primarily hit the middle class and upper tax brackets.

The question for me is how much refinery capacity's been taken of line (in terms of hundred thousand barrels of oil per day) versus how much oil-importing/production capacity's been taken off line.

Not all refineries are down. It's completely possible that we're in a position where the refining capacity currently exceeds their ability to procure oil for refining. I haven't heard this stated; but I also haven't heard stated that we *currently* (i.e., 12:33 CDT on 8/31/05) are able to import/produce more oil than "we" can refine.

[nonconformist]

13. Yes, but only if the following conditions exist:

It's clear we only need a temporary reprieve, let's say -15 days.

I wouldn't support draining the reserve, and I wouldn't support it being released without a soild timeline.

I agree this nation needs a cold hard smack, but let's face it. The people that will suffer the greatest by skyrocketing gas prices and shortages are the people who can least afford to suffer.

[DemocratSinceBirth]

16. Exactly....

The poorer you are the more of your incomes that goes to gas and electricity.....


It's amazing the number of folks here who want to cut off their noses and the noses of the poor who I thought it was our duty to help and protect to spite Bush's face...


"I wouldn't support draining the reserve, and I wouldn't support it being released without a soild timeline."

It's a token gesture to reassure people... If people fear a shortage they will horde gas and create the shortage they wished to avert...

[tridim]

14. Just a guess here, because I really don't know how the SPR works

But I assume the oil there now was purchased before oil was $70/barrel. Would it be strategic (for Bush's friends) to dump all that cheap oil on the market and replenish it later with expensive oil?

Who pays for the oil in the SPR? When they release it, is it sold to refineries or is it given to them? Who gets the money if it's sold? Is the profit capped on the refined petroleum?

I fear we're getting screwed again, but that's pretty much the norm in Bushworld.

[Beelzebud]

20. To be perfectly honest. I have no idea...