Jump to content

News Alert!


tealmarlin
 Share

Recommended Posts


WASHINGTON ? (AP) ? President George W. Bush has decided

to temporarily halt deposits to the U.S. strategic petroleum

reserve to make more oil available for consumer needs and

relieve pressure on pump prices, a senior administration

official said Tuesday

 

Bush, under pressure to do something about gasoline prices

that are expected to stay high throughout the summer, was to

announce the decision in a speech. It was part of a flurry of

actions designed to demonstrate that the government was

trying to deal with rising prices. The government also asked

states on Tuesday to guard against unfair pricing.

 

The president was expected to announce the government will

stop making additions to the strategic reserve until the

fall, the official said, speaking on condition of anonymity

because the decision had not been announced by the president.

The reserve holds 685 million barrels, available in an

emergency.

 

Bush also was to call on oil companies, which are enjoying

record profits, to increase their investments in alternate

sources of oil. The official also suggested Bush was going to

announce that some environmental rules were being relaxed.

Link to comment
Share on other sites

At least President Bush is doing something. Im sure the Democrats and Liberals will find a way to criticize this.

 

Actually diverting from oil reserves was a democratic idea. Kerry suggested it last year. But when it comes from your king, GWB, it must be a great idea.

 

And yeah, Bush has been a joke at addressing oil prices. But who needs facts when you live in the fantasy world you live in.

Link to comment
Share on other sites

Guest Juanky

President Bush to temporarily halt deposits to strategic petroleum reserve to make more oil available for consumers, senior administration official tells CNN.

 

What this means, I have no idea.

Trying to reset gas prices around the country by increasing supply from within without having to pay for it from someone outside the country.

 

Economics 101

Link to comment
Share on other sites

Guest Juanky

Im sorry, Im not in the oil business. Im not what you call greedy.

What does that have anything to do with absolutely anything?

 

So basically they are allowing elements put into (or not removed) from gas in order to meet the demand?

No, what they're doing is the government won't be purchasing any oil barrels to add to their reserves until the third quarter of this year. Since the reserve holds 685 million barrels, it temporarily makes the incoming oil supply completely purchased by consumers rather than having any of it bought for the purpose of saving it for emergencies.

Link to comment
Share on other sites

So basically they are allowing elements put into (or not removed) from gas in order to meet the demand?

No, what they're doing is the government won't be purchasing any oil barrels to add to their reserves until the third quarter of this year. Since the reserve holds 685 million barrels, it temporarily makes the incoming oil supply completely purchased by consumers rather than having any of it bought for the purpose of saving it for emergencies.

And I think they are also reducing environmetal standards so as to allow it to come out faster, ie removing less elements that make pollution worse.

 

It's amazing that he considers it a crisis when people have to drive their cars in the summer but not when people have enormous heating bills in the winter. But hey, gotta support the troops.

Link to comment
Share on other sites

So basically they are allowing elements put into (or not removed) from gas in order to meet the demand?

No, what they're doing is the government won't be purchasing any oil barrels to add to their reserves until the third quarter of this year. Since the reserve holds 685 million barrels, it temporarily makes the incoming oil supply completely purchased by consumers rather than having any of it bought for the purpose of saving it for emergencies.

And I think they are also reducing environmetal standards so as to allow it to come out faster, ie removing less elements that make pollution worse.

 

It's amazing that he considers it a crisis when people have to drive their cars in the summer but not when people have enormous heating bills in the winter. But hey, gotta support the troops.

Gas and oil prices in the winter are considerably lower than the summer time.

Link to comment
Share on other sites

This thread is quite old. Please consider starting a new thread rather than reviving this one.

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Restore formatting

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

 Share



×
×
  • Create New...