Bush won't use emergency oil to ease prices

[Sir Evil]

WASHINGTON (Reuters) - President George W. Bush will not tap the U.S. Strategic Petroleum Reserve to temporarily ease oil prices that hit a record high of $100 a barrel on Wednesday, the White House said.


"This president will not use the SPR to manipulate (oil prices)," said White House spokeswoman Dana Perino. "Doing a temporary release of the SPR is not going to change prices very much."

Perino said the Bush administration understands that high energy prices hurt family budgets and small businesses, but using the emergency oil stockpile to lower crude prices is not the solution.

"We have to figure out a way to increase supply here in the United States," she said, further stating that the world knows the Bush administration invaded Iraq for the oil so there is no longer concerns of dipping into our own reserves.":laugh2: The SPR is supposed to be used for emergencies. We know that markets work."

LINK (http://news.yahoo.com/s/nm/20080102/us_nm/bush_oil_dc_1)

[red states rule]

and he should not release the oil. The market will decide the price of oil - not the release of oil from our reserves

If the government wants to help lower prices, why not repeal all the taxes on a gallon of gas? That would lower pump prices by around 40 to 60 cents a gallon

[5stringJeff]

Why have the SPR at all?

[Yurt]

Why have the SPR at all?

If you owned a home in the country, would keep reserves of essentials? For that matter, would you ever keep reserves, even in a downtown Seattle condo.

[Kathianne]

If you owned a home in the country, would keep reserves of essentials? For that matter, would you ever keep reserves, even in a downtown Seattle condo.

Gas prices here hit $3.20 today. I'd like to fill up containers, but realize it's too dangerous. There may come a point where it's not worth going to work.

Someone tell me again how this war was 'all about oil.'

[Yurt]

Gas prices here hit $3.20 today. I'd like to fill up containers, but realize it's too dangerous. There may come a point where it's not worth going to work.

Someone tell me again how this war was 'all about oil.'

but this doesn't mean we have to tap the reserves. the price is still somewhat stable, despite that it is higher than we are comfortable with. we are still driving and still buying cars that don't get great gas mileage.

oh, and 3.20 is cheap around here. i still drove to morro bay and watched the massive swells pound the coastline....

[5stringJeff]

If you owned a home in the country, would keep reserves of essentials? For that matter, would you ever keep reserves, even in a downtown Seattle condo.

I might keep reserves for the government's use, but not to pump back into the economy.

[Kathianne]

but this doesn't mean we have to tap the reserves. the price is still somewhat stable, despite that it is higher than we are comfortable with. we are still driving and still buying cars that don't get great gas mileage.

oh, and 3.20 is cheap around here. i still drove to morro bay and watched the massive swells pound the coastline....

I hear you, but just saying that there comes a point where it's not worth driving and filling up, even for work. That's when implossion hits. Getting close for those at the bottom or live too far from employment.

[Sitarro]

The price of gas is not about the supply of oil(regardless of what the media pretends), it is about the supply of refined oil...... i.e. Gasoline, heating oil, diesel, jet fuel ....etc. The SPR is unrefined crude oil. The Gulf of Mexico has tankers stacked up with no where to dump their supply of crude.

[Yurt]

I might keep reserves for the government's use, but not to pump back into the economy.

and we would agree

[Yurt]

I hear you, but just saying that there comes a point where it's not worth driving and filling up, even for work. That's when implossion hits. Getting close for those at the bottom or live too far from employment.

that may be, however, we are not there yet. when and if that point ever comes, then and only then does the '''''market''''' shift. i did buy a 2006 camry due to the fuel concerns back then. i regret it. that car rattles and feels the road like chalk feels the board. i would pay more for a bigger car, like my 4runner and would willingly pay more to operate it. next vehicle I am thinking of is a Tahoe. Though, if I stay in SLO or the bay area, probably a 3 series bimmer, however, if we move back to seattle, then Tahoe.

[JohnDoe]

Gas prices here hit $3.20 today. I'd like to fill up containers, but realize it's too dangerous. There may come a point where it's not worth going to work.

Someone tell me again how this war was 'all about oil.'If it was about Oil, it was about RAISING oil prices, not about reducing them, which is what was going to happen with the deals with iraq and russia and iraq and france...from what I have read.

And oil prices going up has always been an assured thing when it comes to instability in the region with wars.... War always causing oil prices to rise, never to make them go down?

[red states rule]

If it was about Oil, it was about RAISING oil prices, not about reducing them, which is what was going to happen with the deals with iraq and russia and iraq and france...from what I have read.

And oil prices going up has always been an assured thing when it comes to instability in the region with wars.... War always causing oil prices to rise, never to make them go down?

JD, Dems promised they would reduce gas prices if they won in 06. So far, gas prices are up about 60% since they took over

Oil companies make only about 10 cents profit on a gallon of gas, while taxes add 40 to 60 cents a gallon to the price

The price of oil is set on the open market, not by elected officials or the oil companies

[JohnDoe]

JD, Dems promised they would reduce gas prices if they won in 06. So far, gas prices are up about 60% since they took over

Oil companies make only about 10 cents profit on a gallon of gas, while taxes add 40 to 60 cents a gallon to the price

The price of oil is set on the open market, not by elected officials or the oil companiesThen who are the Oil Speculators?

jd

[red states rule]

Then who are the Oil Speculators?

jd

That is the open market, and how oil prices are set.. This is not the big government conspiracy the left keeps saying it is

The Dems finally passed an "energy bill" - not one thing in that bill will increase our oil supply, or increase refinery capacity

In other words, yet another failure of the Dems to try and solve an issue

[JohnDoe]

i suppose we can't expect the oil companies to build more refineries with their record profits huh? And we have to use tax payer's money to do it instead?

maybe they will do it themselves with their own money if we do continue to focus on green energy though?

and Happy New Year rsr!

jd

[red states rule]

i suppose we can't expect the oil companies to build more refineries with their record profits huh? And we have to use tax payer's money to do it instead?

maybe they will do it themselves with their own money if we do continue to focus on green energy though?

and Happy New Year rsr!

jd

Whenever the oil companies try to build a refinery or drill for oil, the enviro wackos put up a fuss and go to court

The last time a refinery was built in the late 70's

Dems want to tax the oil companies which will make the price of gas go even higher.

Our economy runs on oil, as does the rest of the world. Going green will take time and will do nothing to lower the price of gas

Happy New Year to you as well JD!

[Yurt]

JD, Dems promised they would reduce gas prices if they won in 06. So far, gas prices are up about 60% since they took over

Oil companies make only about 10 cents profit on a gallon of gas, while taxes add 40 to 60 cents a gallon to the price

The price of oil is set on the open market, not by elected officials or the oil companies

it never ceases to amaze me how many forget this basic knowledge.

with that said, speculators also drive up the cost per barrel, just like any other open market commodity.

[Kathianne]

it never ceases to amaze me how many forget this basic knowledge.

with that said, speculators also drive up the cost per barrel, just like any other open market commodity.

There was a time back about 8-10 years ago that the state stopped their taxes for several months, it helped. I don't expect to see that with Blago.

[82Marine89]

If you owned a home in the country, would keep reserves of essentials? For that matter, would you ever keep reserves, even in a downtown Seattle condo.


Gas prices here hit $3.20 today. I'd like to fill up containers, but realize it's too dangerous. There may come a point where it's not worth going to work.

Someone tell me again how this war was 'all about oil.'

I have enough food and water for two weeks. I store 20 gallons of gas in metal Jerry cans and rotate the supply monthly. I have a generator for lights and to keep the fridge cold. I also have enough bullets to, never mind, you can never have enough bullets.

[manu1959]

i suppose we can't expect the oil companies to build more refineries with their record profits huh? And we have to use tax payer's money to do it instead?

maybe they will do it themselves with their own money if we do continue to focus on green energy though?

and Happy New Year rsr!

jd

build a refinery......ya right no one wants one built....try to build a nuclear power plant....and get this ...they are demolishing all the wind turbines in the altamont pass because they kill too many birds....

[red states rule]

build a refinery......ya right no one wants one built....try to build a nuclear power plant....and get this ...they are demolishing all the wind turbines in the altamont pass because they kill too many birds....

and Kennedy and Kerry did not want wind turbines built because it ruined the view from the beach front homes