Congress defies Bush on oil reserve

Discussion in 'Economy' started by Gunny, May 13, 2008.

  1. Gunny
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    Gunny Gold Member

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    Now how is this any dumber than suspending the Federal tax on gas? One tenth of 1%. Oh yippee ...:rolleyes:
     
  2. Care4all
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    Care4all Warrior Princess Supporting Member

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    well, that coupled with China's massive earthquake in a zone where usa producing factories are, let alone the 10,000's of factory workers killed and their country being tied up with their natural disaster, with the lowering of our demand which has taken place, along with the ethanol making it out there which also has reduced our demand, then adding the demand reduction by not buying the strategic reserves....all done together .... might actually work gunny? Better than a gas tax reduction alone, that's for certain!!!!



    care
     
  3. RetiredGySgt
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    RetiredGySgt Platinum Member

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    Lots of if's there.
     
  4. ReillyT
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    ReillyT Senior Member

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    I have to agree. This seems like a show. What really is the point?
     
  5. onedomino
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    onedomino SCE to AUX

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    Instead of pointless public relations stunts Congress should remove the impediments to developing the nation's 1.7 trillion barrels of oil in the Colorado shale. It could also provide incentives to develop North Plains coal gasification.
     
  6. Care4all
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    Care4all Warrior Princess Supporting Member

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    Wonder why releasing the strategic oil reserves worked under President Clinton? I realize that was probably alot more put on to the market than just barrels of oil we are not buying and perhaps this is why it worked at the time....

    Oil is so sensitive now, someone sneezes and the speculators raise the price...buying less, reducing demand... like we are in the usa now, they STILL raise the price.....

    so, who really knows nowadays what the heck will happen?


    The speculators obviously do not take our present demand in to consideration.

    I read recently that Saudi Arabia has been lying about their oil reserves...they have told the world they have 230 billion in oil reserves but the rumor is that they over inflated their reserves by 100 billion barrels, that they only really have 130 billion barrels of oil in reserve....

    Maybe the speculators found out about this lie, and this is why prices have escalated beyond any reason that is out in the public and known...and I mean beyond the dollar deflation and present demand? Maybe this is why we really did go in to Iraq, who has the second largest oil reserve next to saudi arabia, but if the Saudis are lying then Iraq really has the largest oil reserve....and NO, NOT TO STEAL THE OIL, but to strategically position ourselves to be paying recipiants of the Iraq oil reserves?

    Again, who the heck knows????

    care
     
  7. RetiredGySgt
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    RetiredGySgt Platinum Member

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    They are not releasing oil from the reserve, they are not filling as they are required if this passes.
     
  8. AllieBaba
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    AllieBaba BANNED

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    So stupid to expect oil prices to drop when one refuses to build refineries or drill.

    So stupid.
     
  9. Care4all
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    Care4all Warrior Princess Supporting Member

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    yes, I SAID THAT...retsgt... :)


    second sentence i wrote...

     
  10. Care4all
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    if we drilled in Alaska, it makes no difference to the price of global oil....because it is not Nationalized and is on a global market and this oil would be put on to that market and priced accordingly.

    There have been some MEGA FINDS of oil within the last five years in the Gulf of Mexico by the Mexicans, and some HUGE PROGRESS with tons of oil in Canada that newer technology has allowed them to benefit from too, and huge finds in the Caspean sea, and several MEGA finds of oil throughout the world in which ANWR pales in comparison BUT the price of oil KEEPS RISING.

    ANWR will not reduce the price of oil on the global market that our oil is put in to for pricing purposes by our oil companies....seems like it should, as with all of the other mega finds of oil that have come up, but the facts show that oil hasn't budged in the downward's direction with these finds.

    care
     

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