Suspend deliveries to U.S. oil reserve, lawmakers say »
Posted By engineer 5 months ago in NewsCongressional Democrats and Republicans support a halt to the nation's emergency stockpiling, citing high gas prices. Bush has said that a moratorium would be risky and wouldn't bring down prices.
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engineer
Hi My background is Biomedical engineering with an MBA As you know from all my comments where I almost stand politically. I have loads of ...
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engineer5 months ago
It's obvious that Bush wants the prices up. I wonder what was discussed in the secret energy meetings Cheney had with the energy thieves?
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nostalgia5 months ago
"20 million (barrels) the nation uses every day."
"The reserve holds about 700 million barrels"
We are approaching hurricane season. All it will take is destruction of rigs in the Gulf to increase prices dramatically
Do you think these politicians will step up to the plate and admit that suspending delivery to the reserve was a mistake if that occurs?
"Sen. Byron L. Dorgan (D-N.D.) said he would try to add a measure that would suspend the oil deliveries to a war-funding bill. "I think it's nuts, at $120 a barrel for oil, to put up to 70,000 barrels a day underground," he said Wednesday."
Where does the oil for the reserve come from??
The oil is delivered from oil companies as payment in kind for royalties owed for pumping oil from federal land.
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nostalgia5 months ago
"Senate Majority Leader Harry Reid (D-Nev.) responded: "Bush Republicans' only answer" is to drill in the Arctic National Wildlife Refuge. "We cannot produce our way out of the problems that we have."
Congress needs to wake up and realize that the only way to bring prices down in the short term is to increase supply
That will help bring the prices down to a reasonable level while the longer term strategies are developed
They need to do both at once - more supply AND long term strategies to reduce dependence on foreign oil
Why is it that Congress is always missing half of the equation?
Without increasing the supply in the short term we will be looking at escalating prices for decades.
Does anyone seriously believe that the demand from China and India will lessen? As those countries continue to develop, the demand for oil will outpace supply
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