tealmarlin Posted April 25, 2006 Share Posted April 25, 2006 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. Quote Link to comment Share on other sites More sharing options...
MrAndMrsFish Posted April 25, 2006 Share Posted April 25, 2006 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. Quote Link to comment Share on other sites More sharing options...
Dan Marino Forever 13 Posted April 25, 2006 Share Posted April 25, 2006 At least President Bush is doing something. Im sure the Democrats and Liberals will find a way to criticize this. Quote Link to comment Share on other sites More sharing options...
Flying_Mollusk Posted April 25, 2006 Share Posted April 25, 2006 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. Quote Link to comment Share on other sites More sharing options...
tealmarlin Posted April 25, 2006 Author Share Posted April 25, 2006 Bush talks so much BS, everyone has heard it all before. Quote Link to comment Share on other sites More sharing options...
Guest Juanky Posted April 25, 2006 Share Posted April 25, 2006 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 Quote Link to comment Share on other sites More sharing options...
tealmarlin Posted April 25, 2006 Author Share Posted April 25, 2006 Im sorry, Im not in the oil business. Im not what you call greedy. Quote Link to comment Share on other sites More sharing options...
FreshFish Posted April 25, 2006 Share Posted April 25, 2006 Do we have the capacity to refine the extra oil that will come to the market? Quote Link to comment Share on other sites More sharing options...
Dodge Posted April 25, 2006 Share Posted April 25, 2006 Do we have the capacity to refine the extra oil that will come to the market? No. That, combined with exponentially increasing demands in China and India, etc are the problem here. Quote Link to comment Share on other sites More sharing options...
Lefty Posted April 25, 2006 Share Posted April 25, 2006 So basically they are allowing elements put into (or not removed) from gas in order to meet the demand? Quote Link to comment Share on other sites More sharing options...
Guest Juanky Posted April 26, 2006 Share Posted April 26, 2006 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. Quote Link to comment Share on other sites More sharing options...
Flying_Mollusk Posted April 26, 2006 Share Posted April 26, 2006 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. Quote Link to comment Share on other sites More sharing options...
Das Texan Posted April 27, 2006 Share Posted April 27, 2006 Can I have a few days go by that dont make me want to hate this man even more? Quote Link to comment Share on other sites More sharing options...
tealmarlin Posted April 27, 2006 Author Share Posted April 27, 2006 Your going to need to wait untill 2008. Quote Link to comment Share on other sites More sharing options...
Fish Tank Frenzy Posted April 27, 2006 Share Posted April 27, 2006 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. Quote Link to comment Share on other sites More sharing options...
Das Texan Posted April 29, 2006 Share Posted April 29, 2006 Your going to need to wait untill 2008. Ya I guess then at least I wont hate him MORE on a weekly basis, it will probably plateau off at that time. Quote Link to comment Share on other sites More sharing options...
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