Strategic Oil Reserve
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I have a stupid question, but I haven't seen in mentioned anywhere: Why isn't the reserve full already? We've been filling it for years so at some point it should be full right? Or are they constantly expanding the size of the reserve so it's never full? Or have we been tapping it already?
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The creation of the reserve ranks among the best decisions ever by the United States. Now John Kerry wants to start releasing oil from it. Is this really a good idea? Afterall, we don't seem to care that we're paying $2/gallon for gas. We still drive around in our SUV's. Gas is still cheap when compared to historical prices adjusted for inflation. I think tapping the reserve now will only exacerbate our already insatiable appetite for oil. Isn't it better to save it for a time when we really need it? As it stands now I'm still voting for Kerry. I just happen to disagree with some aspects of his energy policy. [edit]I incorrectly stated that Kerry wants release oil from the reserve. Kerry wants to suspend purchases to fill the reserve.[/edit]
Nice to hear some sane comments on this. Yes, we will need that reserve someday, and it should be left alone. This is probably the only thing I've ever agreed with GWB on. Suspending purchases is not necessarily a bad idea; tapping it is definitely wrong.
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The creation of the reserve ranks among the best decisions ever by the United States. Now John Kerry wants to start releasing oil from it. Is this really a good idea? Afterall, we don't seem to care that we're paying $2/gallon for gas. We still drive around in our SUV's. Gas is still cheap when compared to historical prices adjusted for inflation. I think tapping the reserve now will only exacerbate our already insatiable appetite for oil. Isn't it better to save it for a time when we really need it? As it stands now I'm still voting for Kerry. I just happen to disagree with some aspects of his energy policy. [edit]I incorrectly stated that Kerry wants release oil from the reserve. Kerry wants to suspend purchases to fill the reserve.[/edit]
Isn't this the reason we really took over Iraq. < ducks > I won't dignify your question with an answer.
Yes, I program in VB6, but only because I'm addicted to eating! -
The creation of the reserve ranks among the best decisions ever by the United States. Now John Kerry wants to start releasing oil from it. Is this really a good idea? Afterall, we don't seem to care that we're paying $2/gallon for gas. We still drive around in our SUV's. Gas is still cheap when compared to historical prices adjusted for inflation. I think tapping the reserve now will only exacerbate our already insatiable appetite for oil. Isn't it better to save it for a time when we really need it? As it stands now I'm still voting for Kerry. I just happen to disagree with some aspects of his energy policy. [edit]I incorrectly stated that Kerry wants release oil from the reserve. Kerry wants to suspend purchases to fill the reserve.[/edit]
At a consumption rate of 20M bpd, and reserve of 660M barrles (265M sweet, 395M sour), that makes for about 33 days of reserve, give or take, depending on what's being consumed, how much, and 100% disruption of other sources. But the reality of it is, if there is a major disruption, the trading price of oil is going to go through the roof, gas prices are going escalate, and certain people are going to get very rich, regardless of whether there's a reserve or not. Expecting to control prices by having/using a reserve is ridiculous. The market responds to fear, not logic. Marc Microsoft MVP, Visual C# MyXaml MyXaml Blog
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Isn't this the reason we really took over Iraq. < ducks > I won't dignify your question with an answer.
Yes, I program in VB6, but only because I'm addicted to eating!Wackatronic wrote: Isn't this the reason we really took over Iraq. < ducks > No. Mike "liberals are being driven crazy by the fact that Bush is so popular with Americans, and thus by the realization that anyone to the left of center is utterly marginal." JAMES TRAUB NY Times Loyal member of the vast right wing conspiracy Me "Kerry is a girl's name." Conan O'Brian "I've spoken to many world leaders - they all look at me and say, you've got to win. I just can't tell you who they are." J.F.Kerry
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Chris Losinger wrote: last i heard, he just wants to stop filling it (adding to it) for a while. Same here. Each election cycle the out of office party uses the reserve as an issue. I've seen the GOP harp on it with Clinton in office, ditto the Demos with Bush in. No doubt both groups would bitch about it if Nader got the nod. I believe there's 1M barrels a day going in, wtih something like 650,000M barrels already stored. Ever wonder what would happen if terrorist dropped a match down that particular hole? Mike "liberals are being driven crazy by the fact that Bush is so popular with Americans, and thus by the realization that anyone to the left of center is utterly marginal." JAMES TRAUB NY Times Loyal member of the vast right wing conspiracy Me "Kerry is a girl's name." Conan O'Brian "I've spoken to many world leaders - they all look at me and say, you've got to win. I just can't tell you who they are." J.F.Kerry
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At a consumption rate of 20M bpd, and reserve of 660M barrles (265M sweet, 395M sour), that makes for about 33 days of reserve, give or take, depending on what's being consumed, how much, and 100% disruption of other sources. But the reality of it is, if there is a major disruption, the trading price of oil is going to go through the roof, gas prices are going escalate, and certain people are going to get very rich, regardless of whether there's a reserve or not. Expecting to control prices by having/using a reserve is ridiculous. The market responds to fear, not logic. Marc Microsoft MVP, Visual C# MyXaml MyXaml Blog
Marc Clifton wrote: Expecting to control prices by having/using a reserve is ridiculous. I don't think the reserve is for public consumption. I believe it is a military reserve, but I could be wrong. Mike "liberals are being driven crazy by the fact that Bush is so popular with Americans, and thus by the realization that anyone to the left of center is utterly marginal." JAMES TRAUB NY Times Loyal member of the vast right wing conspiracy Me "Kerry is a girl's name." Conan O'Brian "I've spoken to many world leaders - they all look at me and say, you've got to win. I just can't tell you who they are." J.F.Kerry
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Chris Losinger wrote: last i heard, he just wants to stop filling it (adding to it) for a while. Same here. Each election cycle the out of office party uses the reserve as an issue. I've seen the GOP harp on it with Clinton in office, ditto the Demos with Bush in. No doubt both groups would bitch about it if Nader got the nod. I believe there's 1M barrels a day going in, wtih something like 650,000M barrels already stored. Ever wonder what would happen if terrorist dropped a match down that particular hole? Mike "liberals are being driven crazy by the fact that Bush is so popular with Americans, and thus by the realization that anyone to the left of center is utterly marginal." JAMES TRAUB NY Times Loyal member of the vast right wing conspiracy Me "Kerry is a girl's name." Conan O'Brian "I've spoken to many world leaders - they all look at me and say, you've got to win. I just can't tell you who they are." J.F.Kerry
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Marc Clifton wrote: Expecting to control prices by having/using a reserve is ridiculous. I don't think the reserve is for public consumption. I believe it is a military reserve, but I could be wrong. Mike "liberals are being driven crazy by the fact that Bush is so popular with Americans, and thus by the realization that anyone to the left of center is utterly marginal." JAMES TRAUB NY Times Loyal member of the vast right wing conspiracy Me "Kerry is a girl's name." Conan O'Brian "I've spoken to many world leaders - they all look at me and say, you've got to win. I just can't tell you who they are." J.F.Kerry
I used to work for the SPR (Strategic Petroleum Reserve). Basically, I was told there was enough oil in there (read: more than one location) to keep the entire country going for 2-3 months without any imports. Jeremy Falcon
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Chris Losinger wrote: last i heard, he just wants to stop filling it (adding to it) for a while. Same here. Each election cycle the out of office party uses the reserve as an issue. I've seen the GOP harp on it with Clinton in office, ditto the Demos with Bush in. No doubt both groups would bitch about it if Nader got the nod. I believe there's 1M barrels a day going in, wtih something like 650,000M barrels already stored. Ever wonder what would happen if terrorist dropped a match down that particular hole? Mike "liberals are being driven crazy by the fact that Bush is so popular with Americans, and thus by the realization that anyone to the left of center is utterly marginal." JAMES TRAUB NY Times Loyal member of the vast right wing conspiracy Me "Kerry is a girl's name." Conan O'Brian "I've spoken to many world leaders - they all look at me and say, you've got to win. I just can't tell you who they are." J.F.Kerry
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I used to work for the SPR (Strategic Petroleum Reserve). Basically, I was told there was enough oil in there (read: more than one location) to keep the entire country going for 2-3 months without any imports. Jeremy Falcon
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Well, it's also been a year since I've worked there, so I should qualify that with an "at the time" I reckon. :) Jeremy Falcon
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Well, it's also been a year since I've worked there, so I should qualify that with an "at the time" I reckon. :) Jeremy Falcon
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Chris Losinger wrote: damn, we're hooked on the stuff. Yeah, an oil slushy kicks ass. :) Jeremy Falcon
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Chris Losinger wrote: i wonder if they're including domestic production as an offset. Maybe. I wonder how much we produce. Chris Losinger wrote: either way, we'd be f***ed. Totally. Even simple stuff like cutting grass would be effected. Jeremy Falcon