the excess oil could be sold to fund other national priorities
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The heart of the story. Too many dollars not going to fund government pet projects. Sell the oil and line the pockets of a Solar Company, just before they go bankrupt?
Why fix the roof? It’s not raining.
Better to wait until it’s scarce and expensive before acquiring that stategic oil reserve. It’s always best to do these things in an emergency.
The guy is a Dem. Therefore, I am against it.
Translation(?): “Let’s dump it on the market now so gas prices will plummet just before the elections”
Let me guess. The left finds another item they’d like to cut and if it bites them back, blame it on the GOP somehow
For crying out loud fellow Freepers, there is nothing wrong with thinking about this. The basic concept of whether we need to buy more reserves is fully sound given the new realities.
Nowhere in the article does it say that we sell off anything and nowhere does it say that money should be shifted to domestic spending, although if it were used to replenish the defense budget I’m sure plenty of us would be willing to think about it.
I for one would certainly be in favor of not buying any more reserves for now, if we are still doing it.
“About $73 billion worth of oil is now stashed in the underground salt caverns in Texas and Louisiana that make up the reserve.”
A drop in the bucket for a nation the size as ours. Congress would just waste the money anyway.
Crackpot...
Obama has already sold off the Reserve to pay for Golf ,Vacations and his friends in the middle east
Here’s the bottom line: The Saudi dictators are running out of oil. Their refineries are running at full capacity, and they still can’t pump out enough oil just to feed the European demand. And on top of that the terrorists are using brute force, corruption and blackmail to gain control of their oil reserves, and there’s nothing that they can do about it.
That’s why Russia is invading the Ukraine and all the rest of those ugly, miserable little former Soviet Bloc countries. They still have pipelines, oil wells, coal mines and refineries that were built at gunpoint by the Soviets back when they were in control, and they want them back.
Because Europe desperately needs oil and coal. They tried the “Green Movement”, and it failed miserably. They found out that relying on the sun and wind for energy won’t keep you warm during the brutal North European winters. That’s why Vladmir Putin has the upper hand.
And here in the USA, we have an abundance of oil, coal, natural gas and shale energy. Thousands of years worth. So does Canada, up there in the cold wastelands where the Badlands Guardian is.
But Obama’s EPA has shut down much of our energy industry with pointless fines and regulations, and now they are trying very hard to shut down the coal industry in Kentucky. Why?
Because Obama is still beholden to the Saudi princes who paid his way into Harvard, even though he was not qualified to attend any American college.
If you don’t believe any of this, then look it up. And not just online. READ A BOOK.
Being a registered Democrat he is immediatley disqualified for discussing serious matterss.