The oil is still the biggest cost component of gasoline.
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 ...
And if they don't want oil prices bid up on the world market, tell them to stop buying cheap Chinese shirts, shoes, and other junk and enriching that (and other) nation(s) to the point where their people can afford gasoline using vehicles.
I wonder why you would think that is true?
Refiners' Total Operable Atmospheric Crude Oil Distillation Capacity as of January 1, 2005
The price is a product of the limited supply vs high demand. The price is high because consumers will pay it. Remove the tax and the price will remain basically the same but the difference will go to the supplier. The ONLY way to lower prices is to increase supply. Basic Economics 101.
Your documentation for that statement? Is it specified in writing that it is for wartime only, and not other national emergencies?
btw, this IS wartime.........but it is also a national emergency.
It qualifies on all counts.
The oil is still the biggest cost component of gasoline.
"There was nothing left to do but vastly increase the amount of time spent in the bedroom."
DUDE, that is soooo hippy.
Our oil supplies are not down because of the Iraq war.
By tapping the reserves now, should we need to take out Iran's nuke program later this year or early next, and the Persian Gulf shuts down, then you will see a real oil supply problem.
I've got an idea, why don't we increase the conservation of this particular commodity by making its use less expensive....(CAFE). sarcasm-/>
$3.00 a Gallon is the price you pay for ANWR!
Start drilling or Stop Whinning!Mind if I adapt that for a tagline?
Mind if I borrow that for a tagline?
etherealtruth (1000+ posts) Wed Aug-31-05 08:07 AM
3. No where!
There is not adequate refining capacity: http://www.washingtonpost.com/wp-dyn/content/article/2005/06/15/AR2005061502252.html
At least they finally recognize that we need refineries. But it's thier fault (the enviro-whackos) that there hasn't been a new refinery built in decades.
MercutioATC (1000+ posts) Wed Aug-31-05 08:30 AM
4. BAD idea.
The strategic reserve isn't meant to be used to artificially lower oil prices. What we're seeing is an issue of supply and demand. The situation will never correct itself if we do things like this.
And in the immortal words of PJ-Comix, this DUmmies almost wins a Kewpie Doll for a moment of mental clarity. I say almost, because while it is true that we shouldn't release oil to lower prices, this move is actually to head off a shortage. Now if only they could keep their stories straight. Prior to this, the DUmmies have been calling for releasing oil from the SPR specifically to lower prices.
I need to go take a shower.
Nope, they are saving up for the billions it'll cost 'em to hire the army of lawyers they'll need to battle the leftist environmental nutjobs in court.
What is your documentation that only war is a reason to open the supply, and that a natural disaster in the midst of a lengthy, oil consuming war doesn't qualify?
Not a problem.
Dohh!
Just think of the $3.00 a Gallon as a "Caribou Tax"
BTW, some stations are already up to $3.30/gallon up here in the land of cheese and beer.
WHERE did you come up with this?? There are more than THAT in South Louisiana alone.
The disruptions caused by Katrina may make it harder for refiners to stockpile winter fuels in preparation for a fourth- quarter peak in demand.
There you have it, the reason/excuse for the price of gas and heating oil to stay high well into spring. Kind of a self fulfilling prophecy. The MSM has been saying all along that President Bush MUST tap the SOR, well now he has, and now what?
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