Katrina: Reason to realease strategic reserves

[Non_Comformist]

if the hurricaine does actual damage to oil producing capabilities would that be cause for the release of the strategic oil reserves?

[lehighguy]

The reserve is suppose to be used if we get in a world war and can't get enough oil to meet our basic needs. I suppose a world wide natural disaster would do as well. Katrina doesn't even come close.

Whenever you hear someone talk about using the reserve to do this or that it's a good sign they aren't very intelligent.

Edit: That isn't directed at you, your asking a question. Rather, to people who get on TV and make nonsensicle statements/assertions.

[jokerthief]

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Whenever you hear someone talk about using the reserve to do this or that it's a good sign they aren't very intelligent.

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You must think Bill Clinton is pretty dumb then.

[mmbt0ne]

</font><blockquote><font class="small">En réponse à:</font><hr />
if the hurricaine does actual damage to oil producing capabilities would that be cause for the release of the strategic oil reserves?

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Aren't a lot of these reserves in Louisiana? I seem to remember hearing that when Clinton was going to open them a while back.

[MelchyBeau]

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Aren't a lot of these reserves in Louisiana? I seem to remember hearing that when Clinton was going to open them a while back.

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The issue really is that all production in the gulf has come to a virtual standstill. All those oil rigs were evac'd a long time ago, and I imagine quite a few won't survive the storm.

Melch

[MelchyBeau]

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10:10 a.m.: Bush Considers Releasing Oil From Nation's Reserve
President George W. Bush is considering whether to release some oil from the nation's petroleum reserves, to help refiners hurt by Hurricane Katrina. Administration officials say a decision is expected later today. The storm has already brought a shutdown of an estimated one million barrels of refining capacity along the Gulf Coast. Officials say Bush seems likely to authorize a loan of some oil from the reserve. -- Associated Press

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Speaking of the devil

Melch

[Ray Zee]

all the presidents talk or do it at some time for stupid political reasons. it costs many times the cost of the oil to put it in and take it out. it is much cheaper to just buy more. when oil was cheap and maybe it is still we should have been stockpiling huge amounts at some location for the future. this way we would determine the cost of oil and not others.

[Il_Mostro]

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when oil was cheap and maybe it is still we should have been stockpiling huge amounts at some location for the future. this way we would determine the cost of oil and not others.

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At 20 million barrels per day those stockpiles need to be large indeed...

[lehighguy]

He's a politician. Releasing the reserve would have an effect of less then a cent per barrel on gas prices. Yet, every month or so someone calls for a release. The cause is simple. They get to go on TV, say how sympathetic they feel for people, and promise relief. It doesn't matter if it's an empty promise (as are nearly all political promises).

[slamdunkpro]

No, it’s not the crude oil that’s an issue with Katrina, its the refineries in the gulf coast region being out of action that will hurt more.

What would help more than dipping into the strategic reserve would be a suspension of the stupid EPA regulations that require something like 40 different blends of gasoline be produced for different regions of the country. This way the remaining refineries could just make three blends of gasoline instead of 120.