Three (R) senators holding YOU hostage

[Wry Catcher]

Seems to me the issue is all about partisan politics and a continuation by Republicans to sabotage any (ANY) effort by Obama to mitigate the Bush Recession. Whether a release of the reserve will do anything to mitigate the economic misery of the American citizen is not the issue, the issue is the GOP's only vision is to capture the White House in November and the patronage that entails.

 

[VaYank5150]

Seems to me the issue is all about partisan politics and a continuation by Republicans to sabotage any (ANY) effort by Obama to mitigate the Bush Recession. Whether a release of the reserve will do anything to mitigate the economic misery of the American citizen is not the issue, the issue is the GOP's only vision is to capture the White House in November and the patronage that entails.

The GOP made their priorities clear from day one...if nothing else, at least they were honest about not doing what was best for America, and only doing what they felt could most benefit their party....

 

[WillowTree]

Seems to me the issue is all about partisan politics and a continuation by Republicans to sabotage any (ANY) effort by Obama to mitigate the Bush Recession. Whether a release of the reserve will do anything to mitigate the economic misery of the American citizen is not the issue, the issue is the GOP's only vision is to capture the White House in November and the patronage that entails.

they need to capture the Senate.

 

[8537]

Senators David Vitter (R-LA), John Hoevan (R-ND), and Richard Lugar (R-IN) introduced the Strategic Petroleum Supplies Act, S. 2100

Bill Text - 112th Congress (2011-2012) - THOMAS (Library of Congress)

“the Administration shall not authorize a sale of petroleum products from the Strategic Petroleum Reserve… until the date on which all permits necessary … for the Keystone XL pipeline project application filed on September 19, 2008 (including amendments) have been issued.”

So, they're tying Obama's hands in case oil prices spike. They are saying that if Iran causes instability in the price of oil, Obama won't be able to do anything about it unless they get the pipeline first.

Yet another FINE example of how EXPENDABLE the money in YOUR wallet is to RepubliCONZ, as long as they get to stick it to ol Barry and reward their patrons, who cares what happens to American families?

Are you really this ignorant? Or perhaps you think that WE are this ignorant? Do you have any idea what the Strategic Petroleum Reserve is, what is SUPPOSED to be there for, AND what happens when a release of that oil occurrs?

Let's refresh our memory: The Strategic Petroleum Reserve (SPR) is an emergency fuel storage of oil maintained by the United States Department of Energy. It is the largest emergency supply in the world with the capacity to hold up to 727 million barrels.

Wow, that's a lot of oil, huh? Not really, because the oil that is released from the SPR is defined by how MUCH you can release, how fast. If you go to the SPR website, which I know is asking a lot from the left, but it will tell you how much is available and how much that oil is worth.

The current inventory is displayed on the SPR's website. As of January 31, 2012, the inventory was 695.9 million barrels. This equates to 31 days of oil at current daily US consumption levels of 21 million barrels per day (3,300,000 m3/d). At recent market prices ($100 a barrel) the SPR holds over $65 billion in sweet crude and sour crude (assuming a $15/barrel discount for sulfur content). The maximum removal rate, by physical constraints, is 4.4 million barrels per day (700,000 m3/d). Oil could begin entering the marketplace 13 days after a presidential order. The Department of Energy says it has about 59 days of import protection in the SPR. This, combined with private sector inventory protection, is estimated to equal 115 days of imports.

Now, the problem with releasing that oil is that it, by law, has to be replaced. If you release the oil when prices are this high, then you are in effect releasing oil that was bought cheap and replacing it with oil that is higher priced, all so you can bring down the price at the pump by a couple cents for your political gains. So, what is the answer? Once again, I don't expect the left to understand something that it REFUSES to understand, so lets review the facts.

1. Barry and the boys in Washington HATE the oil and gas industry. Exploration and drilling on the contenental shelf, in the gulf, the tar shale in Utah, and else where on public lands has been stifled and virtually SHUT DOWN by this administration. The Democrats like to say that we are pumping MORE OIL during Barry's administration than during Bush's. Really nice fact if you're a total politcal hack. But the facts are that North Dakota, west Texas, and some wells being reopenned (thanks to hydraulic facturing that Barry wants stopped as well) in Pennsylvania are on PRIVATE LANDS. Barry and his boys, despite their best attempts, can't shut down drilling on private lands, although the EPA is trying really hard.

2. Since we can't drill at home, thanks to Barry, a lot of our oil still comes through the strait of Hormuz. Iran has threatened to shut it down and has held military exercises to do just that. Prices for insuring the tankers that traverse the strait has tripled and is on track to quadruple since Barry took office. Additionally, add to the fact that since Barry and his boys hate the military, the Navy is having to cut back their commitment to the anti-piracy patrols off of Ethiopia. Ooops... talk about unforeseen consequences. Six tankers full of oil sit in the waters off Ethiopia, their crews being held hostage.

3. Barry had THREE YEARS to study the Keystone pipeline BEFORE the Republicans in Congress added a requirement to make a decision BEFORE the election. Course, Barry didn't like it because he wanted to be a lame duck when he killed it (AND he had every intention to kill it). Now it's put him at odds with the very union members that he was hoping to carry him in November. It's a fine line to walk when you're trying to keep both the tree-huggers AND the union people happy.

And yesterday Chevrolet announced that it was suspending production of the Chevy Volt for a month because NO ONE IS BUYING THEM. Two more "green companies" that Barry and his boys championed have filed for bankruptcy. Millions in government loans to be forgiven so that 'investors' can be repaid instead of the government.

You Democrats have such a sterling record on energy...

Oh my, stupidity wins!

There is no legal mechanism requiring we replace the SPR NOW. If we sell it at $100, reap those profits and buy back replacement oil at the then-lowered price, we come out ahead. With such a large supply, we are not a 100% price taker.

 

[Syphon]

The emergency oil reserve is for an EMERGENCY, not to cover Obamination's ass when he's helped drive up oil prices by preventing drilling in the Gulf, Keystone, etc.

An emergency is a World War and huge natural disasters that affect the US economy, not economic policies by Democrats that drive up oil prices on purpose.

drilling in the gulf has actually not been cut as you have complained.

Drilling has returned to near-normal levels in the Gulf. There are 23 rigs currently drilling wells in water deeper than 3,000 feet, according to federal statistics. That is the same number as two years ago.
The activity is being driven by a series of massive deep-water oil discoveries in the Gulf this year. They follow equally impressive finds in 2009 and early 2010, before the Deepwater Horizon disaster.

BHP Billiton PLC and Chevron Corp. last week announced separate oil discoveries. Both are over 100 miles out to sea in more than 4,000 feet of water. In all, they contain several billion barrels of oil, enough to keep the Gulf of Mexico a major producing region for years to come

Last December, the Obama administration held its first offshore auction since the BP spill, granting leases for more than 20 million acres of federal waters — bigger than West Virginia. The leases are worth $330 million to the federal government and have the potential to produce 400 million barrels of oil.

BP successfully bid for 11 of the 191 available drilling blocks. Environmentalists challenged the auction of exploration rights, so far unsuccessfully, which precedes applications and approvals for actual drilling permits.
By the Obama administration’s accounting, 61 drilling permits for wells in more than 500 feet of water were granted in the 12 months ending Feb. 27, only six fewer than were permitted in the same period in 2009 and 2010 before the BP explosion.

The expansion of deepwater drilling is happening despite accidents in offshore fields, though none have compared to the BP spill. A well operated by ConocoPhillips and a Chinese state company leaked more than 3,200 barrels of oil and fluid into China’s Bohai Bay last June, producing a 324-square mile slick.

A comparable spill occurred last November from an appraisal well in Brazil’s Campos basin operated by Chevron. Federal investigators threatened fines and even prison terms for Chevron officials, but a federal judge declined to grant an injunction suspending Chevron’s Brazilian operations and those of the oil rig contractor, Transocean, the company that owned and operated the Deepwater Horizon for BP.

Nevertheless, the Obama administration reached an agreement with the Mexican government to open a new tract to offshore drilling, some of it in water more than 6,000 feet deep, despite persistent questions about the strength of Mexican oil industry regulation.

Drilling in Gulf of Mexico Rebounds After Spill - WSJ.com
http://www.nytimes.com/2012/03/05/b...rilling-accelerates-as-bp-disaster-fades.html
Deepwater oil drilling returns to Gulf and spreads | | The Bulletin

 

[wjmacguffin]

1. Barry and the boys in Washington HATE the oil and gas industry. Exploration and drilling on the contenental shelf, in the gulf, the tar shale in Utah, and else where on public lands has been stifled and virtually SHUT DOWN by this administration. The Democrats like to say that we are pumping MORE OIL during Barry's administration than during Bush's. Really nice fact if you're a total politcal hack. But the facts are that North Dakota, west Texas, and some wells being reopenned (thanks to hydraulic facturing that Barry wants stopped as well) in Pennsylvania are on PRIVATE LANDS. Barry and his boys, despite their best attempts, can't shut down drilling on private lands, although the EPA is trying really hard.

2. Since we can't drill at home, thanks to Barry, a lot of our oil still comes through the strait of Hormuz. Iran has threatened to shut it down and has held military exercises to do just that. Prices for insuring the tankers that traverse the strait has tripled and is on track to quadruple since Barry took office. Additionally, add to the fact that since Barry and his boys hate the military, the Navy is having to cut back their commitment to the anti-piracy patrols off of Ethiopia. Ooops... talk about unforeseen consequences. Six tankers full of oil sit in the waters off Ethiopia, their crews being held hostage.

3. Barry had THREE YEARS to study the Keystone pipeline BEFORE the Republicans in Congress added a requirement to make a decision BEFORE the election. Course, Barry didn't like it because he wanted to be a lame duck when he killed it (AND he had every intention to kill it). Now it's put him at odds with the very union members that he was hoping to carry him in November. It's a fine line to walk when you're trying to keep both the tree-huggers AND the union people happy.

And yesterday Chevrolet announced that it was suspending production of the Chevy Volt for a month because NO ONE IS BUYING THEM. Two more "green companies" that Barry and his boys championed have filed for bankruptcy. Millions in government loans to be forgiven so that 'investors' can be repaid instead of the government.

1. Wrong! The only time Obama has stopped drilling is a 2-month moratorium immediately following the Deepwater Horizon disaster, and that was only for new rigs in the Gulf of Mexico. 60 days out of 3+ years and only for NEW rigs in one location. The EPA is focused on fracking, which is used for natural gas.

2. Wrong! Most of the oil used in the US comes from Canada and Mexico. Also, I believe we've attacked several pirate ships under Obama, more than under any previous president. except Jefferson.

3. Wrong! The state department, not Obama, requested more time to study the environmental effects of the pipeline. Obama did not say no, he simply said no to right now.

As for your last comment on the Volt, production has been suspended for 5 weeks. The company did not go bankrupt. So, again ... wrong!

 

[Erand7899]

Introducing a proposal in the Senate holds nothing hostage. Unless it is voted on by both houses of congress, and signed by the president, it is just an idea.

 

[Soggy in NOLA]

Senators David Vitter (R-LA), John Hoevan (R-ND), and Richard Lugar (R-IN) introduced the Strategic Petroleum Supplies Act, S. 2100

Bill Text - 112th Congress (2011-2012) - THOMAS (Library of Congress)

“the Administration shall not authorize a sale of petroleum products from the Strategic Petroleum Reserve… until the date on which all permits necessary … for the Keystone XL pipeline project application filed on September 19, 2008 (including amendments) have been issued.”

So, they're tying Obama's hands in case oil prices spike. They are saying that if Iran causes instability in the price of oil, Obama won't be able to do anything about it unless they get the pipeline first.

Yet another FINE example of how EXPENDABLE the money in YOUR wallet is to RepubliCONZ, as long as they get to stick it to ol Barry and reward their patrons, who cares what happens to American families?

So, you're now arguing that the price of oil is influenced by supply?

 

[Decepticon]

Seems to me the issue is all about partisan politics and a continuation by Republicans to sabotage any (ANY) effort by Obama to mitigate the Bush Recession. Whether a release of the reserve will do anything to mitigate the economic misery of the American citizen is not the issue, the issue is the GOP's only vision is to capture the White House in November and the patronage that entails.

they need to capture the Senate.

Won't happen.

It's not even going to be close.
I would not be surprised at Dems taking back the house.

Especially in light of what Repubs have "accomplished".
HINT: It's even LESS than the DO NOTHING congress Truman ran against and WON!

 

[Soggy in NOLA]

Seems to me the issue is all about partisan politics and a continuation by Republicans to sabotage any (ANY) effort by Obama to mitigate the Bush Recession. Whether a release of the reserve will do anything to mitigate the economic misery of the American citizen is not the issue, the issue is the GOP's only vision is to capture the White House in November and the patronage that entails.

they need to capture the Senate.

Won't happen.

It's not even going to be close.
I would not be surprised at Dems taking back the house.

Especially in light of what Repubs have "accomplished".
HINT: It's even LESS than the DO NOTHING congress Truman ran against and WON!

Call me when Obama's '12 strategy is "Four more years!"

The fact that they have everybody hysterical over condoms and whatnot says they don't have much.

 

[OldUSAFSniper]

The supply of world oil isn't meeting demand, so oil producers will sell their oil to who is sucking it down faster. Our slowing economy isn't the equal demand for oil like china +India, the world's most populated countries.

When the US economy picks up and demand increases, the key is the oil staying here or else the cost of gas in the US will climb more.

We are STILL selling 30% of the oil refined in the United States overseas. Please explain how preventing drilling drove up oil prices in the United States?

I'm sorry. I don't think you answered my question....

I can answer that, and don't worry, most left-wing political hacks ask the same thing over and over again anyway. So, you're not alone in your ignorance.

You're absolutely right, we DO export 30% of some of the refined products to other countries. Here's a little clue for you. There are zones in the United States where products from one zone CANNOT get to the other zones without being either 1. trucked at a very great expense OR 2. shipped through the panama canal at an even greater expense. It is VERY COMMON to have a shortage of one type in say California and have a glut of the same material in say Kansas. However, that also does not take into account that the gasoline used in Kansas CANNOT be used in California.

There IS NOT and there NEVER HAS BEEN a pipeline that ships crude oil east or west over the Rocky Mountains. Likewise the Sierra's. Therefore, oil that is pumped out of the ground in say west Texas, goes via pipeline to the refineries on the gulf. MOST of the active and reopenned wells in the United States are now in the central plains (North Dakota, west Texas, Pennsylvania). The oil goes either straight to the refineries on the gulf OR is stored for a short period of time in the storage facility at Cushing, OK. BUT, Cushing only stores one million barrels when it's full.

Once refined, there are methods of getting that produce to the plains and to the eastern half of the country (older pipelines BEFORE the tree hugger craze). BUT, if you want a California refinery to get crude, you've got to either load it onto an oil tanker OR you've got to truck it. Imagine the cost that will add to the price. Additionally, everyone KNOWS that California, Oregon and Washington does NOT burn the same blend of fuel that other states do. Being 'green' they've decided they want to demand refineries to provide them their own blend. IF you're a refinery on the coast, thats a no win situation, because if you can't ship it via the canal, then you're stuck with gasoline that no one else wants.

Since a majority of the crude now goes to the gulf, it is refined there. Thanks to all of you tree huggers, pipelines carrying refined products are minimal, IF the product once refined can even use a pipeline. Add to the mix treaties and other 'aid' that is agreed to by Washington and you have a situation where a glut of one product on the gulf coast cannot be used to solve a scarcity on another coast.

We get a lot of our crude from Canada, Mexico and the Middle East. When that crude hits the refineries, storage is limited. And lets remember, this is a BUSINESS. If you buy a barrel of oil for $100 and you refine it into gasoline, you're going to have to store it until it's needed. If demand decreases because of the price, how long you going to store it until you want it sold and used? You want to store it the least amount of time that you have to, so you sell it to the highest bidder. If that bidder is Israel, Britain, or the European Union, you don't really care.

I assure you that if gasoline was $2.50 a gallon, exports would drop and consumption would increase. It's something you left-wingers don't really understand... supply and demand.

 

[wjmacguffin]

Introducing a proposal in the Senate holds nothing hostage. Unless it is voted on by both houses of congress, and signed by the president, it is just an idea.

Agreed, but it's still an attempt to screw over Obama at the expense of the American citizen.

 

[WillowTree]

Introducing a proposal in the Senate holds nothing hostage. Unless it is voted on by both houses of congress, and signed by the president, it is just an idea.

Agreed, but it's still an attempt to screw over Obama at the expense of the American citizen.

tissue?

 

[Dont Taz Me Bro]

Senators David Vitter (R-LA), John Hoevan (R-ND), and Richard Lugar (R-IN) introduced the Strategic Petroleum Supplies Act, S. 2100

Bill Text - 112th Congress (2011-2012) - THOMAS (Library of Congress)

“the Administration shall not authorize a sale of petroleum products from the Strategic Petroleum Reserve… until the date on which all permits necessary … for the Keystone XL pipeline project application filed on September 19, 2008 (including amendments) have been issued.”

So, they're tying Obama's hands in case oil prices spike. They are saying that if Iran causes instability in the price of oil, Obama won't be able to do anything about it unless they get the pipeline first.

Yet another FINE example of how EXPENDABLE the money in YOUR wallet is to RepubliCONZ, as long as they get to stick it to ol Barry and reward their patrons, who cares what happens to American families?

Are you really this ignorant?

No, he's actually worse than this.

 

[Soggy in NOLA]

Introducing a proposal in the Senate holds nothing hostage. Unless it is voted on by both houses of congress, and signed by the president, it is just an idea.

Agreed, but it's still an attempt to screw over Obama at the expense of the American citizen.

No it's an attempt to prevent using oil stored for national emergencies from being used as a substitute for a sane energy policy.

And BTW... I opposed it when Bush did it as well for the exact same reason.

 

[edthecynic]

The supply of world oil isn't meeting demand, so oil producers will sell their oil to who is sucking it down faster. Our slowing economy isn't the equal demand for oil like china +India, the world's most populated countries.

When the US economy picks up and demand increases, the key is the oil staying here or else the cost of gas in the US will climb more.

So you are saying to get prices down here, the US oil producers must sell their limited supply of oil to China and India and satisfy their demand while at the same time keeping the oil here to keep the price of gas from rising even higher.

 

[Decepticon]

Senators David Vitter (R-LA), John Hoevan (R-ND), and Richard Lugar (R-IN) introduced the Strategic Petroleum Supplies Act, S. 2100

Bill Text - 112th Congress (2011-2012) - THOMAS (Library of Congress)

“the Administration shall not authorize a sale of petroleum products from the Strategic Petroleum Reserve… until the date on which all permits necessary … for the Keystone XL pipeline project application filed on September 19, 2008 (including amendments) have been issued.”

So, they're tying Obama's hands in case oil prices spike. They are saying that if Iran causes instability in the price of oil, Obama won't be able to do anything about it unless they get the pipeline first.

Yet another FINE example of how EXPENDABLE the money in YOUR wallet is to RepubliCONZ, as long as they get to stick it to ol Barry and reward their patrons, who cares what happens to American families?

So, you're now arguing that the price of oil is influenced by supply?

Yes. It's influenced by a GREAT MANY factors. The biggest of which is most likely speculation.

As a result of speculation among these and other major players, an estimated 60 percent of the price of oil per barrel was added; a $100 barrel of oil, in reality, should cost $40 [source: Engdahl]. And despite having an agency created to prevent just such speculative price inflation, by the time oil prices skyrocketed, the government had made a paper tiger out of it.
HowStuffWorks "Oil Speculation Basics"

Now, do you have something pithy to add?

 

[wjmacguffin]

Introducing a proposal in the Senate holds nothing hostage. Unless it is voted on by both houses of congress, and signed by the president, it is just an idea.

Agreed, but it's still an attempt to screw over Obama at the expense of the American citizen.

No it's an attempt to prevent using oil stored for national emergencies from being used as a substitute for a sane energy policy.

And BTW... I opposed it when Bush did it as well for the exact same reason.

Actually, I stand corrected. In my opinion, it's an attempt to screw over Obama. There's no real proof to back up my assertion.

But what about Obama's energy policy is wrong? I'm fairly ignorant on his energy policy so I'm curious to see what's wrong with it.

 

[kwc57]

Introducing a proposal in the Senate holds nothing hostage. Unless it is voted on by both houses of congress, and signed by the president, it is just an idea.

Agreed, but it's still an attempt to screw over Obama at the expense of the American citizen.

Have you ever heard of a guy named Harry Reid?

 

[Intense]

Senators David Vitter (R-LA), John Hoevan (R-ND), and Richard Lugar (R-IN) introduced the Strategic Petroleum Supplies Act, S. 2100

Bill Text - 112th Congress (2011-2012) - THOMAS (Library of Congress)

“the Administration shall not authorize a sale of petroleum products from the Strategic Petroleum Reserve… until the date on which all permits necessary … for the Keystone XL pipeline project application filed on September 19, 2008 (including amendments) have been issued.”

So, they're tying Obama's hands in case oil prices spike. They are saying that if Iran causes instability in the price of oil, Obama won't be able to do anything about it unless they get the pipeline first.

Yet another FINE example of how EXPENDABLE the money in YOUR wallet is to RepubliCONZ, as long as they get to stick it to ol Barry and reward their patrons, who cares what happens to American families?

Schumer is holding NY Hostage, and has been for too long. What is more important to our future, is why Obama blocked the Pipe-Line. Big fail. The Strategic Reserve is a drop in the bucket. Why is Obama destroying Infrastructure? Where is he on Natural Gas Technology? Clean Coal? Stop with the crap about "There Is No Clean Coal", stop playing George Orwell. Stop making us Vulnerable. Stop lying about the damage this Administration is doing.