Today, President Bush said he would not release strategic oil stocks to curb record gasoline prices while he was waging war on terror.
But just last year, I copied the paragraph below from the US Dept of Energy website, but went back just now to look at it and found this has been POOFED. Gone.
"On September 22, 2000, President Clinton directed the Department of Energy to use the Strategic Petroleum Reserve, America's emergency oil stockpile, to bolster oil supplies, especially the critically low inventories of heating oil that many families need in winter. It is the first time a large scale use of the Reserve has been directed by the President to help avert a possible supply shortage since President George Bush ordered its use during Operation Desert Storm." http://www.fe.doe.gov/spr/exchange/index.shtml
Last edited by BK; 05-19-2004 at 04:19 PM.
what is Georges main business interests????????? Get the Picture?
i think this horse died a couple weeks ago
Clinton ? hahahahaha .....
Sorry, I missed the previous discussion. (If there was one?)
Bush made this announcement today - I just read it.
If George Bush Sr had no problems stopping the flow of oil to the reserves, helping lower gas prices during the oil crunch during Gulf War, why won't Bush Jr do it too?
These high gas prices are going to cause prices to skyrocket - our products will never be able to compete in the global market.
Part of the shortage we are experiencing today is actually caused by maintaining the flow to the reserves. There's no shortage of crude; there is a shortage of refined oil. (lack of refineries) So why not halt the flow to the reservies for a while, til the refineries catch up?
Seems like a no-brainer to me. GW's dad's Administration didn't think it was a bad idea. The Clinton Admin felt it was a good idea to keep control of gas prices too.
Last edited by BK; 05-19-2004 at 04:55 PM.
After hearing the talk today by GW,I think I figured it out. They want the energy bill to pass in congress now so they can start drilling anywhere.This would explain allowing gas prices to skyrocket. Just my 2 cents.
I agree we should not use up reserves in order to reduce gas prices for the short term. There are several reasons for my opinion.
1) We need to keep an ace in our back pocket (large reserves) in the event we do have a serious shortage. This will reduce the direct impact of that shortage.
2) Temporary higher prices for a consumable reduces the usage and demand for that product.
3) Other than professional sports, OPEC is the closest the world has to a Monopoly. We need to do as much as possible to minimize the control OPEC has on us. Keeping a large savings account of oil helps us do that.
4) The higher prices also force us into finding alternative fuels and power sources for industry, transportation, recreation.
Don't get me wrong, My gas bill sucks. I could buy another car with my current bill! I just feel Mr. Bush is doing what is best in the long run for the US Economy.
Alternative fuels, just think, one day you may be able to buy a fuel cell the size of a fire extingusher to push your Mirage at 150 without all the sloshing weight of liquid fuel!
Very well put Kent.Originally Posted by Kent Perroux
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