Does anyone have any knowledge this subject? ThanksUS Oil Reserves?
not when youre a Texas oil man who happens to be President and will be collecting 10's of millions of dollars from oil companys next year for ';speaking fees';US Oil Reserves?
thanks for picking my answer! Report Abuse
it is not that we dont have enough oil wells drilling, its because we dont have enough refineries and production~!!!
OPEC will not increase production no matter what we do, and they will not release the information on how much oil they have left~!!!
supply is up and demand is down~!!!
the investers are scared to death each day about another war which will lock up supply~!!!!
the oil companies do not want to build any more refineries, because they know we are headed towards alternative fuels, so they are buying up their own stock and investing in alternative fuel sources and more expensive drilling techniques~!!!
so actually WE are paying for their expensive oil drilling techniques and exploration and alternative fuel investments right now through the gas prices~!!!
Bush ordered the reserve amount to be double the original amount, and about 750,000 gallons a day is diverted to the reserves, it would not effect the prices hardly any at all~!!!
The oil reserves is just that a life line of oil in stock encase something happens that we need it to fall back upon
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And if they do release it to the oil companies it will be gone with in a weeks time
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back in 2000 we used
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United States consumes 19.6 million barrels per day
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And that was 7 1/2 years ago today we use
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26 million barrels a day
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The only thing that is going to lower oil prices, is to get rid of the percieved hreats against supply, The only reason it is going up, is because of the Bush/Chavez media wars, a war in Iraq, and a Bush/Iran media wars making investers on wall street percieve a threat to supply and a profitable outcome to it, so they buy large and drive up prices.
http://news.yahoo.com/s/ap/20080509/ap_o鈥?/a>
Yes, Clinton emptied the national reserves to lower gas prices in the run up to the 2000 election to assist Gore.
However, I feel that the reserves should be kept in case of war or massive supply disruption and agree with Bush's stance in this regard.
Bush could do the same as Clinton to help McCain, but I am glad he isn't.
The oil ';reserves'; has only been used for a political ploy. The reserves would do exactly nothing there are not enough to last one day even if they were turned loose where would they be refinded in time to help. Our only chance is to walk on the conservationist and start drilling and refining TODAY even if it take ten years
The oil reserves are there for a real emergency like if there were no more oil available. Not just because the prices are high. If we use the reserves just to lower prices, what will happen when they are gone. It will just prolong the inevitable.
yes, they could tap 'em, and we could bring prices way down, to where they were 3 weeks ago.
Edit: I love some of these people ';drill, drill, drill.'; We don't have the refining capacity already to meet the demand, and you want to drill more. Fine, then let's build some more refineries first.
Not only that but with the oil we have off the coast of FL and CA and through out the US we can drop the oil prices.
But people don't want oil wells nor have oil refineries built in the US.
So here we are and here we will stay.
To answer your question;
Why tap our strategic reserves when we have Billions of barrels of oil in ANWR and Gulf of Mexico. Democrats should have thought about today 10 years ago when Bill Clinton vetoed drilling in both places, funny now they cry about lack of American production.
I think a true emergency would be an OPEC embargo on exporting oil to the US. And now that we are no longer the sole, major oil consumer on the planet, they very well may have little use for our business.
There is plenty of oil. Have you seen any gas stations run out? The price of gas is high because the dollar is weak. Thank Bush for that.
US doesn't use its reserves but would like to use its economic strength to import oil from all over the world. So that in the end (which is not far away) US will be the only country with oil.
I guess by then people will use Hydrogen..
No having another nation invade our borders would be an emergency.
But hey lets make the job easy on them.......they see we have no oil to fight because asswipes like you cried at the pump, then we are easy pickins.
We do have it and Yes it could slighly lower prices...It would take an act of congress I think to release it. It may take a order from our Oil Barron President too
HIGH GAS PRICES IS NOT A GOOD REASON TO TAP INTO OUR OIL RESERVES.
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