Posted on 08/31/2005 4:33:08 AM PDT by BulletBobCo
That's the first I've heard of that. Do you have a source?
____$3.00 a Gallon is the price you pay for ANWR!____
It'll be four in a few weeks It jumped 30 cents in a day because of this hurricane
Bookmark
BTTT
If their was a shortage there would be no gas to buy. I was in those gas lines in 1973. It wasn't pretty. 13% inflation, 18% interest rates too. We need more refineries, especially here in Calif. which requires a special formulation for gas, but enviro. wackos and NIMBYs block them. Regular gas now $2.86/gal. in SCal.
The SPR statute states that the reserve may be used when "there is a significant reduction in supply which ... (results in a) severe increase in the price of petroleum products ... likely to cause a major adverse impact on the national economy".
To me, "significant", "severe" and "major" would apply in a Persian Gulf shutdown situation, not a temporary supply reduction due to a hurricane.
If the Persian Gulf is shut down, then you see these adjectives satisified, not just a temporary $.25-.50 increase in gasoline prices as we are currently facing.
3.20 in Northern Indiana. Just spiked today from 3.72 yesterday.
Looking at commodity trading, we should keep the reserves alone, they are not doing anything to the market.
from 2.73 yesterday.
Ahhh.....Maybe it's me, nobody seems to be getting the point. Nevermind.
Great bumper sticker. I hope and pray that our Republican leaders are smart enough to point out that 50 years of leftist demorat eco nut extremism are the main factors behinds today's high fuel prices.
Here are the operative words. It's only your opinion, not what the statute states.
I really don't like it when personal opinions are stated as facts.
There has been a 'significant reduction in supply' which already has resulted in a 'severe increase in the price of petroleum products.'
Obviously, the President and his cabinet don't share your personal opinion that the emergency need originate in the Persian Gulf (which is not, incidentally, stated in the statute), and have made a decision based on the state of emergency that the oil supply is currently in.
That won't work for me. I use a lot of oil there too...
That too.
I think you've made some good points.
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. :-)
With regard to the SPR, I'm not sure it makes much difference one way or the other. If there is a logistical interruption and it is useful to redirect the flow, then fine. Whatever is "borrowed" can be easily replaced later.
So get down to your banker and tell him you just had a great idea and want to borrow some money.
Sure! The last time this was done...all the oil released ended up over seas. The effect of this is purely symbolic.
Are you serious? ANWR won't produce a drop of oil for 7-10 years. There's 10 billion barrels up there. That will knock roughly 50 cents off the price of gas in 2015.
ANWR is a red herring for today's concerns.
Except it will lower the federal deficit for this fiscal year.
"...but will not allow price gouging..."
I work for a municipality in the FL panhandle and was just notified this morning that our next fuel delivery will cost us $3.37/gal and that we should expect a 30-45 day wait before our next delivery. This is the cost BEFORE price gouging! The economic ripple from Katrina will be felt for awhile.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.