see? congress can do something if they put their collective minds to it.
obligatory wiki link: http://en.wikipedia.org/wiki/Strategic_Petroleum_Reserve
obligatory wiki link: http://en.wikipedia.org/wiki/Strategic_Petroleum_Reserve
Senate votes 97-1 to force Bush to stop adding to SPR
- Thread starter $tinkle
- Start date
Yeah, we have 160 day supply IF we cut consumption to 1/3 of the norm.
What did they do? I'd guess a couple of bucks a barrel and maybe a few cents a gallon.
And the flip side of that is, see what happens if there is some disruption in the oil flow. People will freak out the SPR isn't to the brim.
And the flip side of that is, see what happens if there is some disruption in the oil flow. People will freak out the SPR isn't to the brim.
Who was the one negative vote?
awesome
Me: I can't believe I agree with him. Isn't Allard a tool?
Wife: That's okay, so are you.
Fun Fact, I grew up in Allard's home town. He was our Vet. I was actually at his house once, his daughter was a friend of my girlfriend at the time.
yes, he is a tool.
BTW, daughter = not hot.
yes, he is a tool.
BTW, daughter = not hot.
While I really don't believe 70000 Barrelas a Ady is really going to Make a difference on the market .
and that the reserves are at 97% which really is Pretty good if you ask me .
I just have a Couple of Simple questions.
1) what good is it going to do ?
2) what were the reserves used for that they are not at 100% ?
what I do see as a positive about this is that it shows that Both Parties can some times actually agree on something! which I think is the best thing about this.
and that the reserves are at 97% which really is Pretty good if you ask me .
I just have a Couple of Simple questions.
1) what good is it going to do ?
2) what were the reserves used for that they are not at 100% ?
what I do see as a positive about this is that it shows that Both Parties can some times actually agree on something! which I think is the best thing about this.
Did Bush open reserves last summer or te one before to lower prices? maybe re-stocking from that?
also Where there hell do you store 727 million Barrels of Oil!!!!
the gulf de mejiko is the source for 1/4 of our fuel, and katrina took 95% offline. maybe that was when. unsure.
i think you're right
This si what I don't get.
Why not reduce demand? WTF is wrong with people?
not enough ink in my keyboard for that
lets see
1) Lazy
2) fat
3) stupid
4) greedy
5) ugly
6) Ignorant
7) Dumb
8) Dirty
9) Smelly
10) inconsiderate
.
.
.
.
.
.
.
it just goes on and on
I meant in context of this thread, but I understand.
ya, so we're not filling the reserves anymore when the price is $120, what happens in a year when the price is $200? or more?
in addition to that, while reserves are at 97%, Bush Admin believes that the reserve levels were outdated and reserve capacity should really be double of what it currently is.ya, so we're not filling the reserves anymore when the price is $120, what happens in a year when the price is $200? or more?
Double.
This 'legislation' and the gas tax vacation are fockin' dumb.
So--capitalism's cool until you have to face its real effects? Isn't the market supposed to drive our consumption down as prices rise and make us find alternatives? Isn't that the goddamned POINT?!
And we're STILL cheaper than most of the rest of the world.
And we're STILL cheaper than most of the rest of the world.
eventually it will, as is evident by the increasing popularity of fuel efficient vehicles and such...
you mean that as daily consumption goes up, we should have more in reserve?? wow, that's a novel idea...
end user consumption has zero to do with federal reserves.you mean that as daily consumption goes up, we should have more in reserve?? wow, that's a novel idea...
97 senators disagree
You said senators.
after doing some research, it appears they have been adding capacity in 2003 , our capacity was at 562,000,000 Barrels , they Brought the capacity up to 703,000,000 and after Katrina Hit , it wasdecided we needed to bring the reserve up to capacity sincethen they have added capacity for 24,000,000 more barrels , with plans to bring another 123,000,000 barrels online.
and the whole point of the whole thing is so , if opec decided they wanted to try and extort control , Like they did in 1973 , or when Iran took there oil fields off line in 1980, that , the US can survive and not be at there mercy, actually it is not a Bad idea to have it at all.
and another interesting thing about it is the 70000 Barrels a day that we are putting in there is a Lower grade Crude with a Higher sulfer ( more pollution petential ) content. and it is also Oil we are not paying for it is oil that is being Paid to the US government as Payment for off shore drilling rights in gulf , called Payment in Kind.
At first when I Herd the Congress slapped Bush down , I was Yeah its about time , but now after doing all this research , I'm not really sure it was the right thing to do.
One other Bizzare caveat that was put in there by Jimmy Carter , that is if Isreal ever get cut off from Oil reserves we Are Obligated by treaty to sell them oil from that reserve for up to 5 years. Even if we get Cut off , we are obligated to sell to Isreal.
actually what I find more interesting /telling is that McCain didn't vote!
i noticed that too.
obama & clinton are warring each other & still found the time.
triangulation?
http://www.fossil.energy.gov/programs/reserves/spr/spr-facts.html
Probably all you'll ever need to know about the SPR.
Probably all you'll ever need to know about the SPR.
Not all of it. It all meets EPA guidelines, the same as every other barrel of oil entering the US for refining.
Yup and as a bonus side effect, it keeps your embassy's safer as the locals can't afford to fill the molotov's anymore.
