Doomed!
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Posted on 04/02/2004 9:48:22 AM PST by NormsRevenge
Edited on 04/14/2004 10:06:56 PM PDT by Jim Robinson. [history]
CRUDE-COLLECTION FACILITY: The St. James Terminal, a distribution point for crude oil near Baton Rouge, La., feeds a pipeline to underground storage in the Strategic Petroleum Reserve, which has a capacity of 700 million gallons.
Those who oppose continued stockpiling say taking the oil out of the market causes prices to rise. Sen. Carl Levin, D-Mich., last year argued for halting the flow. "This administration's actions to fill the SPR regardless of the price of oil or the amount of oil available to the commercial sector is a major reason for these high (crude) prices," wrote Levin, senior Democrat on the Senate Governmental Affairs investigations subcommittee.
(Excerpt) Read more at 2.ocregister.com ...
Google it! "Despite precariously low oil supplies, the government has been pumping millions of barrels into its emergency reserve, which some critics charge has contributed to a surge in crude prices and kept gasoline costs high."
Hits for the same opening paragraph from August, 2003!
Doomed!
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