Posted on 04/25/2006 7:29:28 AM PDT by kellynla
WASHINGTON (Reuters) - President Bush will direct the U.S. Energy Department on Tuesday to temporarily halt deliveries of oil to a strategic reserve in order to get more fuel on the market and help reduce rising gasoline prices, a senior administration official said.
The official said Bush in a morning energy speech, will tell the Energy Department to suspend deliveries this summer while supplies are tight "and defer the deposits until the fall, and then you have more oil on the market."
(Excerpt) Read more at money.cnn.com ...
Just how are they being manipulated. Its a bidding process. You can tell the world what they can bid on future oil supplies?
Economy is rolling!
There is nothing -- nothing he can do that many on FR won't find fault with, so he might as well do what he believes is right.
Does anyone have proof that the refineries are the bottleneck when it comes to gasoline cost/production. I have heard this many times now, but have never seen any documentation which proves the case. Do we have excess crude coming into the country that simply cannot be refined fast enough? Any links would be appreciated.
BTTT!
"Bush to suspend strategic oil deliveries"
AP: Today the esteemed Senator from Nevada Harry "the body" Reid declared that Bush not directing oil to the strategic reserves is a direct threat to our nation if the US went to war. Reminded that the US was already at war, Senator reid declared that the issue is not whether the US is at war or not, but how the poor man will suffer from this treasonous act by an irresponsible President. When reminded that everyone uses gasoline and not just the rich, Senator Reid declared that this was a setup by Halliburton to further line the pockets of Vice President Cheney.
After the presser, Senator Reid was seen leaving with Helen Thomas and Pinch Sulzberger.
Exactly, c. I'm afraid it'll fall on *deaf ears* as the 535 scumbag congresscritters are addicted to taxing us to death.
That'd be part of why we still don't. The refineries stopped being built under Carter...and none since.
Lots of company's showing record profits above those of the oil producers, yet nobody's complaining about them.
Go read the Feds numberous reports on the energy futures markets, they can be manipulated quite easily, and numberous studies by the fed have come to that conclusion and recommended better enforcment and regulation of them... but even though they know they are succeptable to corruption and manipulation they have done nothing to secure them.
Back in 2000/2001 several studies came out all state the same conclusions... yet none of their recommendations to resolve it have been enacted. Energy futures trading is a scam... The Stock market is a "bidding" process too, but that didn't stop folks from bribing other folks in 99 offering them stock that was currently trading for $600 a share, for $35 a share on the days of IPO's...
If you think the energy futures markets in the US are beyond reproach, you are grossly misinformed.
Yes but then bringing in the GOP's most Liberal Enviromental cheerleader and putting her as head of the EPA didn't help matters either.
Right now...they're a waste of energy. If one stripped out a regular car and put in the monitoring systems the hybrids have, you'd have comparable function and gas milage at 2/3 the price. Much of that price difference is the energy used to make the thing.
And an end to the stupid requirement to add 10% Ethanol, which is resulting in regional shortages.
Nice break down.
I would add this in to the equation.
From an average barrel of oil a little less than half, or most likely 18 to 20 gallons of gas is recovered.
At 22 million barrels a day that won't fuel the civilian economy for long. The main purpose is so the military can operate in an emergency. Tapping the reserves and slowing addition to the reserves would have the same effect on civilian usage, that is, not much. It's a gesture to quiet those who think tapping the reserves might have an effect on price at the pump.
The federal tax is what? 18.5c/gal? It'd make a difference, but overwhelmingly it is in the states hands.
[And for a guy who grew up in the oil patch, this man has failed miserably to LEAD us off of the foreign oil addiction.]
Exactly what do you think he should or could do? When 60% of our daily use comes from imports, how the heck can you put the blame on President Bush?
As for global demand, it is increasing substantially, and oil is a globally traded fungible commodity.
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