High gas prices: some history
 

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. :mad:

"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

Re: High gas prices: some history
 

rutro

Re: High gas prices: some history
 

what is Georges main business interests????????? Get the Picture? :blaster:

Re: High gas prices: some history
 

Re: High gas prices: some history
 

i think this horse died a couple weeks ago

Re: High gas prices: some history
 

Clinton ? hahahahaha .....

Re: High gas prices: some history
 

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.

Re: High gas prices: some history
 

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.

Re: High gas prices: some history
 

BK,

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!

Re: High gas prices: some history
 

Very well put Kent.

Re: High gas prices: some history
 

As I said before, GW will tell his buddies to start more production and thus prices will come down, drastically soon before election time so we all feel good again.

Saudi's are already talking about it now when they meet next month.

Unfortunately, we are suffering some now.

I do not think we should tap into our reserves. Save some just in case.

Re: High gas prices: some history
 

I know this sucks but look on the bright side, at least they aren't claiming a BS shortage and making us sit on long lines to get gas.....like they did last time the prices jumped.

Don't buy any gas from Mobile or Exxon. It's our only way to fight back.

Re: High gas prices: some history
 

There was a nice piece by the AAA analyst this morning on the radio that from their analysis of crude, refining capacity (many refineries are making "other" products) and all the other "supposed" reasons there is no justification for the current level of gas price. When asked if the oil companies were gouging his reply was "I won't say gouging but someone is making a very handsom profit". Best reason I've heard so far is that Bush and Repubs want the high prices so they can push through there "drill anywhere you want" payback to their campaign supporters.

Want to do you own little test for gouging or not?

Gas is "roughly" 1/3 crude, 1/3 refining/transportation/profit and 1/3 taxes (you can adjust to your personal preference). Gas in DC metro went up 9c last week, or 5%. Since crude is only 1/3 of the cost, a 5% gas increase would translate to a 15% crude increase, or $6/barrel. Did you see gas go up $6 per barrel last week? I didn't (and that's ignoring that the prices quoted are small lot futures, not bulk contracts that comprise most of the real crude sales). So just where do you think the "extra" price increase is actually going?

my $0.02 - Greg

Re: High gas prices: some history
 

If we would just drill in our own damn country then we wouldn't need the SPR

:mad: Roby

Re: High gas prices: some history
 

Nope, you always want to use up all the other guys resources first, then you sell him yours and really make a killing ;)

-Greg

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This is the best way for now. If you dont like high gas prices, dont buy gas, find something else. a lot of fleets are converting to biodiesel, boston is looking into it, although boston politics suck and theyll find a way to screw it up even more.

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really? is this why the energy bill also includes many incentives for alternative fuel? why would they want people using alternative fuel if all they really want is to use our own oil?

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Mr. Bush is looking out for his future. I'm certain that if he does'nt win re-election he will be back tending to his oil buisness. My 2 cents

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I'm doing my part. Started riding my Kawasaki to work more, 35mpg versus 15mpg in the truck. I'll see if it lasts when it's 90 degrees in the morning and 100 in the evening.

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Roby,

There are hundreds of full oil wells in Texas that were shut and capped in the 1980's. These owners have long said they woudn't start pumping again until there was another shortage and gas prices were over $2.00.

They are smart people - they know if they are patient and wait for global unrest and critical gas shortages (like now), they can become instant billionaires.