Oil Reserves being released--Important Historical Content

[Whoa_Nelly]

Historical releases:
http://www.fe.doe.gov/programs/reserves/spr/spr-drawdow...

Main Gov't. site:
http://www.fe.doe.gov/programs/reserves /

An interesting Dec. 2004 NYT article re: reserves, gas prices and US vulnerability:
(Had to get it from the google cache file)
http://64.233.161.104/search?q=cache:OC5oKyMSzvgJ:crypt...

And one more article--Cato Institute re: Reserves and Politics:
http://www.cato.org/dailys/04-08-04.html

All of the above is very interesting reading. I didn't post excerpts because I know that if you're interested, you'll go to the sites. When I see a post that has too much info in it, I tend to scroll past.

However, I do think it's important to understand the pros/cons of tapping into the reserves and know more about the history, as well as the vulnerable position into which this places our nation, and us, the average citizens.

Have posted this as I think it deserves discussion.

[Politicub]

1. Your links don't work n/t

[KoKo]

2. Can you give a "synopsis" so that those without time to read get an

idea of what these articles might be pointing out. :shrug:

[Whoa_Nelly]

3. Links Fixed

Sorry about that. I posted, then went to the dentist.

Below are the links using tiny URL.

Historical Releases:
http://tinyurl.com/d55y2

Main Gov't site:
http://tinyurl.com/blu5n

An interesting Dec. 2004 NYT article re: reserves, gas prices and US vulnerability:
(Had to get it from the google cache file)
http://tinyurl.com/c67t4

And one more article--Cato Institute re: Reserves and Politics:
http://tinyurl.com/b4jf9

<snip>
On Jan. 17, 1991, the elder President Bush publicly announced he had authorized the Energy Department to sell as much as 2.5 million barrels a day from the strategic stockpile. That would be like adding another Iraq overnight.

The Washington Post reported what happened next: "Oil prices tumbled in London today, defying nearly unanimous predictions prices would skyrocket once war broke out in the Persian Gulf. After jumping $7 a barrel to nearly $40 in the first hour of the war, prices on world markets began to tumble. By midday, the price of benchmark North Sea Brent crude had dropped to near $21 a barrel." A follow-up story said, "The dramatic sell-off to $21.44 shocked traders and led several oil companies to announce immediate price cuts."

[Whoa_Nelly]

4. Kick for Discussion

:kick: