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 ...
you may "think" you have won the debate but we are still importing SIXTY PERCENT OF OUR OIL FROM OVERSEAS.
And if we had done what Brazil started doing years ago we would be totally independent of foreign oil as they are today. And if we had done what France has done; we would be generating 75% of our electricity from nuclear power..
Now you can pat yourself on the back and declare "victory" til the cows come home but the bottom line is that Bush and the Gelding Old Party controlled Congress have failed miserably regarding energy.
Is there a place where I can find those prices?
I fully agree with you on the Congressional inaction and need to get their act together on getting nuclear energy, added drilling and more refineries built.
No one is more disappointed in the wimpy congress than I.
The Feds aren't actually in the road building business they are in the handing out money business. However, our friend Butternut wants all gas taxes abolished which would pretty much do away with public roads at least in Ohio I am not sure how other states fund road projects. I for one do not feel like paying a toll every time I pull out of my driveway. The EZ Pass people might like it though.
not bad as a minor step. but the SPR should be open to deliver physical crude at a discount price to refiners via lottery - replaced by a contract with iraq for some of their oil to replace it at a price discounted to market price. this will help to break the speculative bubble in oil.
alsi, lift the blended fuel and ethanol mandates.
its not designed for that - consumers will never get SPR oil in an emergency, or will get a tiny fraction of it. its for the military and domestic police/fire/emergency etc.
good post.
That is why I specified in my post that the Feds blackmail the states with matching funds. That is exactly the reason why states reduced the drinking age.
The Feds siphon out the money from the states and then give it back to them if they do the bidding of the Feds. We have tons of roads here in GA are are pointless but were built because it was all the Feds would approve.
I don't know about Ohio but very few states earmark the gas taxes to only road building - in almost all states it goes into a fund that has a road building type title but is really a general fund that could be used for anything.
Get the Feds out of the road building business (in any capacity) and it would do a lot to improve matters - not hurt them.
Yes, just google up oil price and then go to Bloomberg. That will give you the light crude prices. Then google up heavy oil prices and you will find much information. Heavy oil is sometimes sold by the ton. Any commodies priceing will give you quotes.
I had a fascinating conversation last September with an official in the Transportation Dept.
I was in DC making a presentation at the Rayburn House Building on possible privatization paradigms for Amtrak's long distance trains. During a reception in a House committee's hearing room, I chatted with a congresscritter, a bunch of congresscritter staff types and a lower level administration official.
He mentioned in passing that the administration was considering a number of moves should gas prices get out of control. One of them was gas rationing to hold down prices. I was a bit concerned at this, but he said it would be a last-ditch solution.
Go complain to the enviro wacko, they ACLU and all liberal judges that block much of the new technology that is needed in this country
Ooop .. silly me .. I forgot it much easier to Blame Bush
"I for one do not feel like paying a toll every time I pull out of my driveway."
Re-allocate all the billions in *earmark pork projects* for the 535 worthless congresscritters to pay for the road taxes. That's OUR money, too, and probably exceeds the fed gas tax revenue.
Problem solved.
You said that once before and I ignored it for being worthless. Repeating it will not make it any less worthless. Nothing will change the fact that the minor amount saved from eliminating earmarks, as justified as that would be, will make up for the loss of 60 cents per gallon that goes to transportation projects most of which is collected by the states as you seem unaware of. I agree that the federal gas tax should be eliminated except for the cost necessary to maintain the Interstate Highways. They can be declared Post Roads and it would thus be constitutional. The rest of the federal gas tax is there only for the Congress to create hanky panky. The minor amount from earmarks would pay for nothing.
And what happened to the program to fast track building new oil refineries on closed military bases......enquiring minds seek to know......?
I think Jeb actually changed his mind about this after seeing how little ecological impact Katrina's trashing of Gulf oil platforms had. Unfortunately, he'd have to go up against the tourism industry, the eco-nuts, and all the slimy FL Congressional delegates that don't wish to allow it.
Al Bore will be pleased......but wooden bikes are better.
Right now sour is running 10-15% lower than sweet. Thats in 13 states in the US.
I remember 20 or so years a go the rush to build refineries overseas and save Americas environment.
The oil companies liked the idea because building refineries overseas saved them taxes and they didn't have to comply with every requirement by every loony environmentalists.
It takes about 7 years just to get approval to upgrade and expand our current refineries and God forbid building a new one that is more energy efficient.
the president could end the EPA mandates on blends, or at least delay it for one year, with the stroke of a pen. why waste time "studying" it? we are out of time, DO SOMETHING.
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