Is Tapping the Oil Reserves the Right or Wrong thing to do?

[berni_mccoy]

Bush is wondering if he should tap the oil reserves. Would doing so be the right or wrong thing?

[flpoljunkie]

1. Reserves were filled to help drive up the price, but the GOP can't take

the wrath of their constituents and the truckers, who are rumored to be going on strike soon, if prices do not ease. The GOP Congres critters have been home and have gotten the word that the people are pissed that gas is so high, and are finally learning from the media that corporate profits are going through the roof. Exxon Mobil profits alone up 45% last quarter.

[sam sarrha]

2. it cant do very much, except replace with more expensive oil.. thats the

plan.. replace 30 dollar oil with $70 dollar oil..

what a racket

[Renew Deal]

5. Exactly

It's barely a dent. It's not worth touching.

[AntiCoup2K4]

3. No, the right thing would be to prosecute oil company thieves.....

...for price fixing and creating artificial "shortages", and demand they lower the fucking price to something goddamn reasonable. And when you look at the record profits these cocksuckers have pocketed since the Chimp has been in the White House, they could easily drop it to $1.50/gallon and not even lose a percentage of interest in their fucking Swiss bank accounts.

Of course that will never happen, as the Bush Criminal Empire have always been willing partners in oil industry corruption.

These fuckers will burn in Hell, and hopefully Satan will throw them in a huge tank of burning crude oil, rather than the usual lake of fire :grr:

[WildClarySage]

8. AND immediately begin looking at raising efficiency standards,

channeling tax dollars into research into alternative sources of oils, and actually behaving as if higher oil prices don't benefit them.

[MadeinOhio]

4. Really wrong, he only sees things in politics....

Trying to temporarily drive gas prices down might help his business, you know as in the GOP.

But the reality is inflation will spike and peak oil will end in disaster, if the reserves are tapped. Its a permanent way to destroy our energy policy, which would now be hanging on the heads of all americans.....Because oil supplies are just about gone.

[eallen]

6. It depends.

I have opposed many here who cried to tap the reserves, just because the price was rising in the market. I'm skeptical the government is wise enough to time the oil market successfully.

But a category 4 hurricane striking the US's largest port is precisely the kind of emergency for which the reserve was created. If Katrina creates a temporary lull in the normal flow of oil to refineries, as seems likely it will, then it makes sense to use the reserves to mitigate that.

Don't think that will resolve all problems in the gasoline market, however. I expect gas prices to go up, regardless of what is done with the petroleum reserves.

[Career Prole]

7. In the words of * himself...

Q: The Energy Secretary said he would not tap US strategic petroleum reserves in order to drive down prices saying those reserves are for emergencies. But given the shortages that exist, do you consider this an appropriate time to tap those reserves?

A: No, I don’t. I agree with the energy secretary that the strategic petroleum reserve is meant for a national wartime emergency. What I think the president ought to do is get on the phone with the OPEC cartel and say we expect you to open your spigots. One reason why the price is so high is because the price of crude oil has been driven up. OPEC has gotten its supply act together and it’s driving the price, like it did in the past. And the president must jawbone OPEC members to lower the price. And if in fact there is collusion amongst big oil, he ought to intercede there as well.

Source: GOP Debate in Manchester NH Jan 26, 2000
http://www.issues2000.org/2004/More_George_W__Bush_Energy_+_Oil.htm



Just like shrub's bible says...he just has to smite OPEC with his jawbone of an ass to get those spigots opened up.

[Eagle_Eye]

9. The right thing to do should have been done years ago

While we knew we had a energy problem, Bush just cruised along on an oil economy.
He should have been promoting energy conservation and production of alternative energy sources.
Now a third of our domestic production is off line. What is next, an oil embargo like the 1970's?

[southpaw]

10. Carter warned us in the late 70's...

Then Reagan scrapped it all!

...and here we are.

[TheFarseer]

11. This hurricane could make push come to shove

another 50 cents for gas will push anyone that was on the edge over the edge. Rural people are f*cking PISSED.

[Yupster]

12. If he could sell of the reserves at $ 70

a barrel and then buy it back at $ 50 in a few weeks, that would seem like a good thing.

Still it doesn't seem like the government's job is to try to time the financial markets.

[berni_mccoy]

13. Trying to dump that much oil into the market would simply tank the price

It would be $50 well before all the oil in the reserves could be sold.

[Maine-ah]

14. A lot of folks can't understand how we came to have an oil

shortage here in our country.

Well, there's a very simple answer. Nobody bothered to check the oil. We just didn't know we were getting low, it's all purely geographical. Our oil is located in Alaska, California, Coastal Florida, Coastal Louisiana, Kansas, Pennsylvania and Texas.

The problem is our DIPSTICKS are located in Washington, DC.


Sorry, folks, I've been waiting a while to use it.....:silly:

[demzilla]

15. Tapping the reserves because prices have gone up

is a cheap political trick that appeals to those in both parties who would prefer to pander to the gas-guzzling electorate without having to call for any real sacrifice or discipline on the part of consumers and automobile manufacturers.

The days of "easy oil" are over, and the sooner we learn the merits of conservation, switching to hybrid and other technologies, and aiming for self-sufficiency, the better.

[MadeinOhio]

16. Well, the neocons advocate Iran and Syria have nuclear weapons too....

And so of course both regions need to be wiped out militarily, and the oil secured. I just wonder if our lawmakers know about this as nobody is even close to supporting an additional pre-emptive war. But PNAC is drooling for one.