Posted on 08/31/2005 4:33:08 AM PDT by BulletBobCo
WASHINGTON - Energy Secretary Samuel W. Bodman said Wednesday the Bush administration will release oil from petroleum reserves to help refiners affected by Hurricane Katrina. An announcement was expected later in the day.
The move is designed to give refineries in the Gulf Coast area a temporary supply of crude oil to take the place of interrupted shipments from tankers or offshore oil platforms affected by the storm.
(Excerpt) Read more at msnbc.msn.com ...
Ashamed or not, I think it's a cool trick! :-)
Will our refining capacity over the coming weeks be A) more B)less or C) the same? Refineries have been operating at 99% capacity. This time of hte year especially, they are producing heating oil for the winter, reducing the amount of gasoline they can produce. If they are ooperating at 99% and keeping up with demand, but not have a lot of excess production, then isn't it just logical to assume that a big cut in refining means a big overall cut in supplies?
This is not due to normal consumption, it is otherwise known as 'panic buying' / 'hoarding' / etc.., in anticipation of upcoming significant price increases. It's human nature. I did it myself yesterday. Most the gas staions in my local area went from 2.55 in the morning to 2.69 by evening. With only one station at 2.55 at night - I went there and topped off my tank along with 16 others already in line.
Wow. It takes an astounding ignorance of both economics AND the regulatory landscape to come up with a post that stupid.
You're not a whacko. There are alternatives out there, such as shale, the oil sands, and even coal. They will take time to develop but with the high price of oil, they will be developed, IMO.
But you will be considered an evil corporate "whacko" by the whacked out left.
I don't see how this helps. Yes, the supply of oil has been interrupted, but more importantly, the refining capacity has been diminished. So all this oil that will be released will be refined where???
In fact only less than 15% of our total oil consumption comes form the Middle East. Canada, Mexico, Venezuela, Saudi Arabia in that order are our major exporters of oil. We produce 40% locally and we import 60%.
The Florida coast has been off limits for many years yet there are hundreds of millions of proven deposits there.
Well enjoy your cheap gas, because here in Milwaukee the price went from $2.69 Monday to $3.25 today. They are running out and had to raise prices to get people to back off.
Heck, it wouldn't suprise me if Oil companies, and Middle Eastern countries funded the enviros. I don't think they do, but it wouldn't really suprise me.
Apparently, there are some refineries still in operation that are running out of crude to process. These refineries could be idled by the lack of oil coming from offshore rigs and terminals that have been shut down if the SPR isn't made available.
Here is a link that will open your eyes about a process improved on by Lewis Karrick who back in the 1920's had made gasoline from coal and in this process could give away the gasoline for free and still make money on the other products. Here is the link.....Karrick
We could decentralize our dependence on oil and oil companies and allow states and local communities to create their own fuels. This would free our economy from the crazy world of oil and allow us to get on with cheap energy which we need.
Expect a major slowdown in our economy if we do not act soon.
Quite true. I must have been alluding to not having been somewhat 'medicated' by Gore's schemes.
I thought so, too at the time.
Well, Sinator Chucky Schumer of New York will have to think up a new reason to get in front of the T.V. cameras and rant.
EXCELLENT!!!
In that case, I'm all for it. We are already using near 100% of the refining capacity. With 8-10% down because of Katrina, the others need to be operating at full capacity. If they aren't getting the crude they could refine, then opening the SPR is needed.
And while we are repairing these refineries, how about updating them to process heavy crude? It is cheaper per barrel. And why not use this opportunity to highlight the need for, and actually build more refineries?
Wherever it comes from, the majority of it needs to be produced here in our own country. We have the resources available. As long as gas was cheap, no one wanted to push the issue, now with these prices it needs to be pushed.
I agree with you. And make one blend of each octane of gasoline. Quit screwing around with all the boutique fuels. This is a matter of national security.
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