U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Politics and Other Controversies
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 03-06-2011, 11:10 AM
 
2,088 posts, read 2,186,325 times
Reputation: 1263

Advertisements

Obama may tap oil reserves to control prices - MarketWatch

I will be very disappointed if Obama gives into political pressure and taps the SPR. It should only be used for national emergencies that causes a complete disruption of supply. What is the damn point of calling it a strategic reserve if you are going to use it every time gas prices go up?

Last edited by Bostonian123; 03-06-2011 at 11:34 AM..
Reply With Quote Quick reply to this message

 
Old 03-06-2011, 11:17 AM
 
Location: #
9,605 posts, read 14,273,941 times
Reputation: 6259
If it's going to ruin the economic recovery, why not use some of it?
Reply With Quote Quick reply to this message
 
Old 03-06-2011, 11:26 AM
 
Location: 3rd rock from the sun
3,858 posts, read 5,959,040 times
Reputation: 1806
AFAIK The spokesman just said that they were looking at all options - not that using the reserves is seriously being considered. The US reserve is about a 30 day reserve of unrefined crude. Getting that refined and to market wouldn't be a quick solution -and wouldn't make a dent on pricing - if we tapped 10% thats only a 3 day supply along with the logistics & costs of getting it to market. The reserve is for emergencies not price reduction.

Quote:
disappointed if Obama gives into political pressure and taps the SPR
Pressure from whom?
Reply With Quote Quick reply to this message
 
Old 03-06-2011, 11:32 AM
 
Location: North Beach, MD on the Chesapeake
32,106 posts, read 39,170,046 times
Reputation: 40515
This is the first I've seen this. Wishful thinking by some, maybe? And everyone is correct, the SPR is for emergencies, such as a loss or great diminuation of supply as happened in the aftermath of Katrina. The price increase now is driven by the futures market/speculation and not a supply issue. Yet.

In fact, and I think it was Marketwatch, predicted a decrease of $.75/gal in the next 30 days or so a couple days ago. I wasn't really paying attention when I heard it so I don't remember what the source was.

Last edited by North Beach Person; 03-06-2011 at 11:37 AM.. Reason: spelling, for the overly critical
Reply With Quote Quick reply to this message
 
Old 03-06-2011, 11:33 AM
 
2,088 posts, read 2,186,325 times
Reputation: 1263
Quote:
Originally Posted by Gary Siete View Post
AFAIK The spokesman just said that they were looking at all options - not that using the reserves is seriously being considered. The US reserve is about a 30 day reserve of unrefined crude. Getting that refined and to market wouldn't be a quick solution -and wouldn't make a dent on pricing - if we tapped 10% thats only a 3 day supply along with the logistics & costs of getting it to market. The reserve is for emergencies not price reduction.


Pressure from whom?
There is always pressure from Congress on the President to use the SPR to lower gas prices. Our Senators and Representatives feel the need to show their constituents that they are doing "something" about high gas prices.
Reply With Quote Quick reply to this message
 
Old 03-06-2011, 11:35 AM
 
Location: Here
10,833 posts, read 11,566,701 times
Reputation: 5928
Nothing more than an attempt to quell the growing displeasure associated with rising fuel cost. They ain't "tapping' squat.
Reply With Quote Quick reply to this message
 
Old 03-06-2011, 11:35 AM
 
Location: it depends
6,074 posts, read 5,125,327 times
Reputation: 5767
Quote:
Originally Posted by Bostonian123 View Post
Obama may tap oil reserves to control prices - MarketWatch

I will be very disappointed if Obama gives into political pressure and taps the SPR. It should only be used for national emergencies that causes a complete disruption of the import of oil. What is the damn point of calling it a strategic reserve if you are going to use it every time gas prices go up?
I think the SPR is ten or twenty times larger than needed for strategic military purposes. We would do well to sell up to 75% of the oil out of it at prices above $100/barrell, and start refilling it at prices below $50.

If we could chop the peaks and troughs off the price over time, the economy would perform better and we would make better decisions with our money. Over the past thirty years, when prices are high we invest a lot in alternatives. WHen the price drops, that investment is lost. A more stable price would have us investing smarter. The market for vehicles is also affected by volatility--demand for gas-guzzlers and super-economy cars fluctuates widely, depending on volatile gas prices.

Plus we would make a pile of money, buying low and selling high.
Reply With Quote Quick reply to this message
 
Old 03-06-2011, 11:39 AM
 
197 posts, read 352,870 times
Reputation: 235
Quote:
Originally Posted by 01Snake View Post
Nothing more than an attempt to quell the growing displeasure associated with rising fuel cost. They ain't "tapping' squat.
Thank you. And if they ever do it will be for military and federal use not so Joe Brombacher can lower his expenses.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Politics and Other Controversies
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top