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ghost_flash · May 18, 2004, 01:22 PM

Clinton, just prior to election had opened the reserves to lower prices.... huh.

Bush, is not.

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Send thee to the Political Forum! (lol)

voodoo · May 18, 2004, 01:23 PM

Wrong forum!

voodoo · May 18, 2004, 01:43 PM

Interesting topic ghost_flash. Now that it is in the correct forum.

Could you provide a link to this information

OldManMac · May 18, 2004, 01:55 PM

Bush shouldn't open the strategic reserves. It's labeled "strategic reserves" for a reason. If it were opened, it would be a very short term fix, like putting a band aid on a gash, and we would be in deep doo doo if there were an emergency.

We all complain about "high" gas prices, yet we're not willing to do even the simplest things to conserve oil, such as keeping our tires inflated to proper pressure, organizing trips, and, pretending that we need AWD vehicles to go to the grocery store.

BTW, Hummer H2 sales are dropping.

dreilly1 · May 18, 2004, 01:58 PM

I'll stick up for g_f, since I remember when this happened, and wasn't very pleased by it.

http://people.howstuffworks.com/question478.htm

The only good thing about Clinton's program was that oil companies had to replace the oil they took from the reserve, resulting in no net loss. (I remember that they might have actually had to put more oil back, but that detail isn't in this write-up.) Of course, they got to sell the oil when the price was highest, and probably replace it when it oil prices were lower, effectively pocketing the difference. We usually expect that kind of corporate welfare from Mr. Bush, but we can take solace in the fact that Mr. Clinton isn't connected in the oil industry, and likely didn't profit directly from it.

While it did make oil prices go down that winter (and I think Clinton was more after heating oil than gasoline with this program), I thought it was an improper use of this reserve. It was established to keep the economy afloat in the event of another oil embargo. If you want a reserve to keep prices stable, keep a separate reserve for that! Or, better yet, force the oil companies to maintain it, since they'd be the ones directly benefitting for it. having more oil to sell just at the point when prices are highest...

voodoo · May 18, 2004, 02:34 PM

Originally posted by ghost_flash:
Clinton, just prior to election had opened the reserves to lower prices.... huh.

Bush, is not.

--------------

Send thee to the Political Forum! (lol)

Idiotic logic.

Clinton was not up for re-election.

djohnson · May 18, 2004, 02:36 PM

Anyone know how many gallons are in the SPR?

voodoo · May 18, 2004, 02:42 PM

Originally posted by djohnson:
Anyone know how many gallons are in the SPR?

The reserve stores about 570 million barrels of crude oil in underground salt caverns at four sites along the Gulf of Mexico. A barrel contains 42 gallons or 159 liters of oil.

According to that article dreilly1 linked to.

lil'babykitten · May 18, 2004, 03:03 PM

Originally posted by voodoo:
Idiotic logic.

I thought Logic was your friend!

voodoo · May 18, 2004, 03:13 PM

Originally posted by lil'babykitten:
I thought Logic was your friend!

Who is this Logic you speak of?

lil'babykitten · May 18, 2004, 03:20 PM

Originally posted by voodoo:
Who is this Logic you speak of?

Ya know, the one who posts h.....oh.

itai195 · May 18, 2004, 03:29 PM

Originally posted by dreilly1:
I'll stick up for g_f, since I remember when this happened, and wasn't very pleased by it.

http://people.howstuffworks.com/question478.htm

The only good thing about Clinton's program was that oil companies had to replace the oil they took from the reserve, resulting in no net loss. (I remember that they might have actually had to put more oil back, but that detail isn't in this write-up.) Of course, they got to sell the oil when the price was highest, and probably replace it when it oil prices were lower, effectively pocketing the difference. We usually expect that kind of corporate welfare from Mr. Bush, but we can take solace in the fact that Mr. Clinton isn't connected in the oil industry, and likely didn't profit directly from it.

Corporate Welfare is Bill Clinton's middle name (you may have thought it was Jefferson).

voodoo · May 18, 2004, 03:30 PM

Originally posted by lil'babykitten:
Ya know, the one who posts h.....oh.

voodoo · May 18, 2004, 03:31 PM

Originally posted by itai195:
Corporate Welfare is Bill Clinton's middle name (you may have thought it was Jefferson).

I thought every president was given that middle name at the inauguration?

I'm rather disillusioned, so you'll have to pardon me.

dreilly1 · May 18, 2004, 03:35 PM

Originally posted by itai195:
Corporate Welfare is Bill Clinton's middle name (you may have thought it was Jefferson).

Quite true. But energy companies are Bush's specialty. Clinton's talents lay elsewhere...

itai195 · May 18, 2004, 03:52 PM

Originally posted by voodoo:
I thought every president was given that middle name at the inauguration?

I'm rather disillusioned, so you'll have to pardon me.

Harsh, but fair

djohnson · May 18, 2004, 03:54 PM

Originally posted by voodoo:
The reserve stores about 570 million barrels of crude oil in underground salt caverns at four sites along the Gulf of Mexico. A barrel contains 42 gallons or 159 liters of oil.

According to that article dreilly1 linked to.

Oops, didnt have time to read the article... so about 23.9 billion gallons of crude oil. How many gallons of gas would that be?

Here is a funny read

http://www.geocities.com/arcticreds/gas.html

tie · May 18, 2004, 07:14 PM

Originally posted by ghost_flash:
Clinton, just prior to election had opened the reserves to lower prices.... huh.

Bush, is not.

Bush supported Enron against the state of California. This doesn't surprise me.

TheMosco · 09:11 PM

I am pretty sure bush senior opened it up too, but i was probably 5 or 6 years old so i wouldn't remember. Not sure if it was near an election though.

On Abc world news they said at current levels, it would last us about a month.

slow moe · May 18, 2004, 09:13 PM

Economic growing pains.

The US economy has grown while we fight a war in the middle east. The price of everything was bound to go up because everything requires petroleum to either produce, maintain, or ship.

Dipping into the strategic reserves is not the right anwser. If anything, just wait for the market to correct itself, and who knows, hybrid cars may start springing up in a driveway near you.

djohnson · May 19, 2004, 12:03 PM

I still say we need to develop some alternative sources of power. How cool would it be to have an anti-gravity device?

MacGorilla · May 19, 2004, 12:23 PM

People in Congress have proposed released 30 million barrels from the reserve. That's not much oil; maybe a week's consumption. It would be nice symbolism but it wouldn't do much for energy prices in the long term.

BRussell · May 19, 2004, 12:41 PM

I think everyone agrees it's pretty silly. They're just looking for Bush to say "no," and then have a way of blaming Bush for gas prices. That's politics. And it might work.

soul searching · May 19, 2004, 03:28 PM

Nothing funny about $2+ per gallon gas prices, but the picture below got a laugh out of me.

A gas station owner in Menlo Park, Calif., expresses his opinion on the recent surge in gasoline prices. - USA TODAY Article.

slow moe · May 19, 2004, 11:03 PM

"No blood for oil! No blood for oil! No blood for.."

What! two fifty a gallon!!

"Kill! Kill! Kill!"