wiegie Posted August 4, 2008 Share Posted August 4, 2008 Obama's idea to tap our strategic oil reserves to help lower gas prices seems really stupid. I say keep the reserves there in case we have a real national emergency and not just high, but falling, gas prices. Quote Link to comment Share on other sites More sharing options...
SEC=UGA Posted August 4, 2008 Share Posted August 4, 2008 Obama's idea to tap our strategic oil reserves to help lower gas prices seems really stupid. I say keep the reserves there in case we have a real national emergency and not just high, but falling, gas prices. We agree, for once Quote Link to comment Share on other sites More sharing options...
MrTed46 Posted August 4, 2008 Share Posted August 4, 2008 We agree, for once Get a room you two Quote Link to comment Share on other sites More sharing options...
billay Posted August 4, 2008 Share Posted August 4, 2008 Obama's idea to tap our strategic oil reserves to help lower gas prices seems really stupid. I say keep the reserves there in case we have a real national emergency and not just high, but falling, gas prices. The entire gas price concern has gotten out of control. Gas prices are already falling. This is nothing more than an attempt to manipulate the public. Floridian's calling for offshore drilling? Tapping the oil reserves? I know paying a higher price for gas sucks, but it's not insufferable. Get a new car, change gas, drive less. My family has been able to adjust to higher prices. I'm very skeptical of the general public's inability to pay higher prices at the pump when local lottery sales have increased by 25% iin the last few months. Quote Link to comment Share on other sites More sharing options...
dmarc117 Posted August 4, 2008 Share Posted August 4, 2008 analyst on cnbc just said obama's idea is nuts Quote Link to comment Share on other sites More sharing options...
whomper Posted August 4, 2008 Share Posted August 4, 2008 The entire gas price concern has gotten out of control. Gas prices are already falling. This is nothing more than an attempt to manipulate the public. Floridian's calling for offshore drilling? Tapping the oil reserves? I know paying a higher price for gas sucks, but it's not insufferable. Get a new car, change gas, drive less. My family has been able to adjust to higher prices. I'm very skeptical of the general public's inability to pay higher prices at the pump when local lottery sales have increased by 25% iin the last few months. Sometimes doing this affects other aspects of our economy. People may be spending less on other things to accomodate the high gas prices which creates the viscious cycle. I would hit the reserves to give us a break while things hopefully stabilize then build them up again. We would be rolling the dice in regards to a national emergency forcing us to use our reserves but has that ever happened before ? ( I really do nt know the answer) have we ever had an emergency where we had to tap the reserves ? Quote Link to comment Share on other sites More sharing options...
billay Posted August 4, 2008 Share Posted August 4, 2008 Sometimes doing this affects other aspects of our economy. People may be spending less on other things to accomodate the high gas prices which creates the viscious cycle. I would hit the reserves to give us a break while things hopefully stabilize then build them up again. We would be rolling the dice in regards to a national emergency forcing us to use our reserves but has that ever happened before ? ( I really do nt know the answer) have we ever had an emergency where we had to tap the reserves ? Katrina Quote Link to comment Share on other sites More sharing options...
Ursa Majoris Posted August 4, 2008 Share Posted August 4, 2008 The entire gas price concern has gotten out of control. Gas prices are already falling. This is nothing more than an attempt to manipulate the public. Floridian's calling for offshore drilling? Tapping the oil reserves? I know paying a higher price for gas sucks, but it's not insufferable. Get a new car, change gas, drive less. My family has been able to adjust to higher prices. I'm very skeptical of the general public's inability to pay higher prices at the pump when local lottery sales have increased by 25% iin the last few months. +1. It's yet another in an endless string of media-manufactured crises. Quote Link to comment Share on other sites More sharing options...
MrTed46 Posted August 4, 2008 Share Posted August 4, 2008 I would need to see the cost/benefit of doing this. How much would it help? If its only marginal (prob would be) then its not worth it. Quote Link to comment Share on other sites More sharing options...
Azazello1313 Posted August 4, 2008 Share Posted August 4, 2008 hey at least that idea, dumb as it is, would actually LOWER gas prices -- unlike his other retarded oil pandering idea, the windfall tax nonsense. Quote Link to comment Share on other sites More sharing options...
Azazello1313 Posted August 4, 2008 Share Posted August 4, 2008 Except that McCain has been saying this very thing for months. obvious lie. Quote Link to comment Share on other sites More sharing options...
billay Posted August 4, 2008 Share Posted August 4, 2008 I would need to see the cost/benefit of doing this. How much would it help? If its only marginal (prob would be) then its not worth it. I can only conclude that Obama is trying to beat the gas issue to death right now, as it is the republicans only fruitful gounds of attack against him. It's all rhetoric anyway, so why not pull the rug out from under them. Quote Link to comment Share on other sites More sharing options...
whomper Posted August 4, 2008 Share Posted August 4, 2008 Katrina Was that the only time ? How much reserves would we need to tap to make a siginificant impact on gas prices and how long would it take to replace ? Quote Link to comment Share on other sites More sharing options...
billay Posted August 4, 2008 Share Posted August 4, 2008 (edited) Was that the only time ? How much reserves would we need to tap to make a siginificant impact on gas prices and how long would it take to replace ? From Wikipedia: SPR drawdowns [edit] Petroleum sales 1985 - Test sale - 1.1 million barrels (175,000 m³) 1990/91 - Desert Storm sale - 21 million barrels (3.3 million m³) 4 million in August 1990 test sale 17 million in January 1991 Presidentially-ordered drawdown 1996-97 total non-emergency sales for deficit reduction - 28 million barrels (4.5 million m³) 2005 - Hurricane Katrina sale - 11 million barrels (1.7 million m³) Katrina shut down 95% of crude production and 88% of natural gas output in the Gulf of Mexico. This amounted to a quarter of total U.S. output. About 735 oil and natural gas rigs and platforms had been evacuated due to the hurricane. From the Dept. of Energy website: The volume of crude oil that was released after Hurricane Katrina was restored to the SPR at moderate rates over time. Repayments of loaned oil began during late Fall 2005 and concluded in the final repayment delivery in May 2007. Replacement of the sold oil was managed through the royalty-in-kind program. The pre-Katrina inventory level was reached in April 2008. Replacement of the sold crude oil was attempted in 2007 using both direct purchase and the royalty-in-kind program. Solicitations for crude oil acquisition by direct purchases were issued in April and May 2007; funds for the purchases were to be from the Fall 2005 emergency sale receipts. However, neither solicitation resulted in award because the Department determined that the prices proposed were too high, and not a reasonable value for the taxpayer. There are no plans at this time to resolicit for purchases of crude oil. Had the purchase offers been successful, it would have been the first direct purchases of crude oil for the SPR since 1994. Edited August 4, 2008 by billay Quote Link to comment Share on other sites More sharing options...
dmarc117 Posted August 4, 2008 Share Posted August 4, 2008 The Strategic Petroleum Reserve (SPR) is an emergency petroleum store maintained by the United States Department of Energy. this isnt an emergency, its an inconvenience. Quote Link to comment Share on other sites More sharing options...
whomper Posted August 4, 2008 Share Posted August 4, 2008 this isnt an emergency, its an inconvenience. I agree it isnt an emergency but it is feeding into the recession in my opinion. Quote Link to comment Share on other sites More sharing options...
WaterMan Posted August 4, 2008 Share Posted August 4, 2008 this isnt an emergency, its an inconvenience. It's not an emergency for everyone, but it is for alot of people. Quote Link to comment Share on other sites More sharing options...
Pope Flick Posted August 4, 2008 Share Posted August 4, 2008 Bad idea. This isn't close to an emergency, but we're flirting with one. Imagine gas at 7 bucks or more. Quote Link to comment Share on other sites More sharing options...
dmarc117 Posted August 4, 2008 Share Posted August 4, 2008 It's not an emergency for everyone, but it is for alot of people. its not life or death. they can drive less, take other modes of transportation, spend less on non-essentials, etc. Quote Link to comment Share on other sites More sharing options...
CaP'N GRuNGe Posted August 4, 2008 Share Posted August 4, 2008 Obama's idea to tap our strategic oil reserves to help lower gas prices seems really stupid. I say keep the reserves there in case we have a real national emergency and not just high, but falling, gas prices. Totally agree. Quote Link to comment Share on other sites More sharing options...
Azazello1313 Posted August 4, 2008 Share Posted August 4, 2008 an emergency is something like terrorists bombing one of our refineries and drastically crippling our capacity. that is what the reserve is for, not price bubbles in commodities markets. Quote Link to comment Share on other sites More sharing options...
CaP'N GRuNGe Posted August 4, 2008 Share Posted August 4, 2008 If anything, any additional domestic drilling should first and foremost add to our strategic reserves... Quote Link to comment Share on other sites More sharing options...
WaterMan Posted August 4, 2008 Share Posted August 4, 2008 If anything, any additional domestic drilling should first and foremost add to our strategic reserves... That's a good idea. Quote Link to comment Share on other sites More sharing options...
Clubfoothead Posted August 4, 2008 Share Posted August 4, 2008 (edited) hey at least that idea, dumb as it is, would actually LOWER gas prices -- unlike his other retarded oil pandering idea, the windfall tax nonsense. 73% of us favor expanding offshore drilling even though it will take 7 to 10 years to get the oil (so no immediate cost relief) and the fact that production from the increased drilling won't meet increased demand. Nevermind the environmental impact of our oil use. We are going to get what we deserve if we don't get more serious about our dependence on oil, particularly foreign oil and thatsurvey Iheard over the weekend tells me we are either stupid as a nation or not serious as a nation. BTW, how'd Exxon do last quarter on the backs of Americans? I'm guessing they set another profit record. If nothing else I appreciate the punitive nature of the windfall tax. It at least makes me feel like one candidate cowtows to big oil less than the other. But no, I don't like the idea of using the strategic reserves. But the peole still want cheap gas so both candidates have to pander to the 73% who don't get it just to get elected. Edited August 4, 2008 by Clubfoothead Quote Link to comment Share on other sites More sharing options...
wiegie Posted August 4, 2008 Author Share Posted August 4, 2008 If anything, any additional domestic drilling should first and foremost add to our strategic reserves... I have said before that we should view ANWR as a strategic oil reserve that can be drilled in the event of an emergency. Quote Link to comment Share on other sites More sharing options...
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