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 ...
$3.00/gal try $3.349/gal by next week. The market is trading at $2.69 today.
But also, from a strategic perspective... what's really so wrong with burning foreign oil? Doesn't it make sense that if supplies are ever someday going to be truly tight: *burn theirs first*
That's not foolish. That's planning. :-)
Well, re my 'good points' ("Refining capacity: shortage - what shortage?"), all I ask is to show me the actual evidence of a 'refining capacity shortage' in terms of INSUFFICIENT gasoline being available in the marketplace as a result of such 'shortage'.
At this point, no one has been able to provide such expetedly obvious and conclusive evidence.
At first, I used to 'buy' the rationale of a "Refining capacity shortage" that was supposedly the reason being put forth for gas prices going higher and higher, but after I looked around and saw that we could pump up our gas tank anytime we wanted to, I started wondering where the connection was.
It turns out that, because oil production supply is directly managed (they can turn up production to meet demand anytime they want), what is really driving this a 'speculative' pricing position (high jumps) being taken by the retailers based solely on a consistent high demand for the consumption of this gasoline, way before the actual 'crude' price is reflected in higher 'refining' costs, which would in-turn consequently be reflected at the pump when it is later delivered to the retailers.
How about a waiver from some of the boutique gases? The EPA has just issued a waiver for volatility and sulphur standards through 9/15.
Yes, I am serious, and we should have drilled for it 10 years ago.
In 10 more years when gas is $6.00 a gallon maybe you'll wish they started today. Plus, how do you or anybody else know how much oil is up there? Our energy policy should not be to just "turn out the lights".
Yes, I am serious, and we should have drilled for it 10 years ago.
Woulda, coulda, shoulda. What your recommending is tantamount to ordering a fire extinguisher over the Internet while the house is burning to the ground.
Our energy policy should not be to just "turn out the lights".
Then the energy policy needs to include war with China to stop their rocketing consumption of oil. Otherwise, we're limited in what we can accomplish.
Instead of drilling for a patch of oil in Alaska in ten years, we should be aggressively funding alternative energy. And I mean AGGRESIVELY funding it. We built the atomic bomb from scratch in three years. We've proven the ability to move at lightspeed when necessary.
Plus, it would create well-paying jobs in Mexico which might slightly reduce the incentives for illegal immigration into our country.
I believe you are right on target. The only possible benefit would be to lower crude prices making gasoline cheaper in places that don't have our current supply problem.
Didn't you just know we would get a "do something" solution? I'll be grateful if we escape the price control option.
"Woulda, coulda, shoulda".
Not what I'm saying.
"war with China to stop their rocketing consumption of oil".
Not helpful and probably a bad idea. That would be like throwing some fuel on the fire. And not the type we need.
alternative energy.
I for one would love to see something along this line. However as an Engineer I can tell you that most of the hailed plans are pipe dreams and fairy tales. As my Math Professor use to say "it's all mathematics boys and girls". A hydrogen vehicle would require a fuel tank 4 times as large as on your current car and need to be pressurized to 10,000 psi (source Popular Mechanics Jan 2005) to do the same work as gasoline. Plus there are no vast sources of readily usable Hydrogen lying around. First you have to extract it and that takes ENERGY.
Remember. It's all Mathematics Boys and Girls
Kirk out.
Yet everyone on the left yells for President Bush to release the reserves. So now that he has,BFD. Oil is still at $70/bl, so much for that plan. Good call lefties.
Jenny Granholm, our Gov has asked for the waiver here. Still not going to make a bit of difference.
And it's due to be productive in 2010
Would you care to comment now on the myth of shortages?
Not everyone can do that, but people who can should. It will make things better for all. We are cutting back as much as we can. It's not an inconvenience.
HAWAII IS AN OIL GLUTTON!!
Hawaii uses oil to generate a whopping 78 percent of the state's electricity, compared with just 3 percent nationwide. So everything the Bush plan says about diversifying from fossil fuels goes for us in spades.
Hawaii has no nuclear power plants. Nationwide, nuclear power supplies 20 percent of electricity generation, and the Bush plan calls for more. But the large size of nuclear power generators does not fit Hawaii's needs. Also, the state Constitution prohibits nuclear power.
Source: Honolulu Star Bulletin June 10, 2001
So how many barrels of oil does it take per day to run 78% of a state's power?
I hope that the voters over there make the connection between their rising electric rates and their liberal ecologically correct legislature.
That's like saying the lumber companies are in league with the guys spiking trees. It only works in the movies and when I tease my "black helicopter" buddies.
If the oil companies were free to refine 10 times the oil into gas they would be making less profit per gallon but a lot more profit per year. My company does it all the time with their products. You can increase sales and profits by dipping your prices. Sometimes by only a few percent.
BTW - When I say "my company" I'm not refering to anything I own. I am just an insignificant number in the grand scheme. Although I would like to say "my company" and it actually be my company.
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