Skip to comments.U.S. taps reserves to calm New York, New Jersey fuel "panic" post Sandy
Posted on 11/02/2012 7:03:26 PM PDT by Oldeconomybuyer
(Reuters) - A third day of gasoline "panic buying" among storm-stricken motorists in the New York area and New Jersey prompted authorities to tap emergency oil reserves and ordered the military to dispatch fuel on Friday, while limited deliveries from pipelines and oil barges offered a glimmer of relief.
Four days before the U.S. presidential election, the Obama administration made an all-out effort to ease the crisis, authorizing the Defense Logistics Agency to buy and deliver up to 22 million gallons of fuel for the region, waiving a rule barring foreign-flagged vessels transiting U.S. ports and loaning out diesel from the Northeast heating oil stockpile.
New Jersey Governor Chris Christie ordered gasoline rationing starting at noon on Saturday, an action likely to draw comparisons with the 1970s oil crisis.
New York temporarily lifted tax and registration requirements on tankers docking in New York Harbor, which had just reopened to oil vessels. "There should be a real change in conditions and people should see it quickly," New York Governor Andrew Cuomo said.
While the shipping waivers sent benchmark New York gasoline futures 2 percent lower, they will do little to address the immediate obstacle to getting fuel to consumers: power outages that shut two-thirds of the filling stations in New Jersey and the New York City area were still hindering service at oil terminals and refineries in the region.
(Excerpt) Read more at reuters.com ...
It seems like Leftists are constantly finding a reason to tap the Strategic Oil Reserve. It’s amazing there’s a pint left.
As I understand it, there’s a refinement problem, not a supply problem.
With a muzzie communist traitør in 'charge', what could possibly go wrong ? !
It’s a distribution and delivery problem. Not a matter of supply as such.
The reality is that it will take time to restore the delivery infrastructure.
Two years from now, none of these people will have one more can of food as emergency backup in the kitchen than they had before this storm. That’s also a reality.
That’s stupid - there is no lack of supply. There’s a lack of electricity and docking of tankers in the area. Get the pumps working and the problem will go away.
They call it a “strategic” reserve for a reason, and that reason isn’t political.
I suspect most of the trucks are still okay, but I’m not so sure about the refineries. Were they damaged? Were trucks lost?
If refineries are okay, and trucks are okay, it’s only a matter of time.
Being down for five days would cause a problem on it’s own.
I agree with your take on emergency supplies. I think a lot of us are too lax there.
Problem is, if your home is washed away, there goes your stash.
We’ve stored up pasta, beans, canned food, water, and propane tanks. We should be okay.
I’m seriously thinking of going diesel since you can store a considerable amount of it up, without having to worry about it sparking off, or separating.
If your cars run on it, and your generator runs on it, you could be in a much better situation. You can probably burn it in lamps too.
Foreign flagged ships?? Is Barak f’n crazy??
This region doesn't need oil ... it needs gasoline. Refining capacity is off-line here due to the loss of power, and supply chains are extended as fuel is shipped in by truck from other states.
As it stands now foreign-flagged ships can import goods from any foreign port to any US port.
“It seems like Leftists are constantly finding a reason to tap the Strategic Oil Reserve.”
Well at least the folks in N.J. and N.Y. can all get their oil changed. :-)
The Strategic Oil Reserves are for the military in event of war, not for temporarily making distressed people feel like the politicians are doing something.
You can only drain these salt domes so many times before they are rendered unusable, so I understand, and Clinton already hit them. I think I heard they can only be hit four times. Then new storage areas have to be found and readied.
And this isn't tank-ready gasoline, it's just oil. It hasn't even in refined into useable stuff fit for EPA approval.
He's jacking it all up just in the vain hope it will tweak the oil prices? As if that's really going to affect the pump and make everyone warm and fuzzy?
Or is he just trying to hobble the military as much as possible?
Ormore likely, as it was for Clinton when he paved the way for Jessis jackson's relatives to profit from the tapping of the reserves, is Obama using this a way to scratch some oil investor's back with future profits as a way to get a campaign cash infusion right now?
Thanks Alberta’s Child. Everything is gamed these days isn’t it.
Sounds pretty risky. Hope some terrorsts from one of these ‘foreign flag’ countires don’t set off a LNG tanker in New York harbor.
The headline would more accurately read: U.S. taps reserves to calm New York, New Jersey fuel "panic" post Sandy -- but of greater import -- pre-election
IoW, the admin concern is these first SIX days of November...Come, Nov. 7...ah, well an eventual "fix" to locals' situations will come...
Foreign flagged ships??
Zero’s Invitation to his jihadist firends!!
Where’s our oil sh##head!!!
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