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NubiWan
Skeptic Friend
USA
424 Posts |
 Posted - 05/17/2004 : 13:11:31
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Just makes me proud to be an American. *Hack,Hack* Wasn't all that long ago, that crude oil was selling at historic lows. But thanks to our secret energy policy, and the bottomless pocket of the American Turkey, er, Taxpayer, we'll show'm how its done. As if we weren't getting hit at the pump hard enough.
"With crude oil trading above $41 a barrel and terrorism fears helping to inflate the price, the U.S. has quietly continued to fill its emergency reserves to the highest level ever...," why aren't I surprised at yet another stunning display of foresight and leadership? Its all in the t-t-ti-timing. 
Article: http://www.quicken.com/investments/news_center/story/?story=NewsStory/dowJones/20040517/ON200405170007000005.var&column=P0DFP
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Robb
SFN Regular
USA
1223 Posts |
 Posted - 05/17/2004 : 15:22:46 [Permalink]
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quote:
Originally posted by NubiWan
the U.S. has quietly continued to fill its emergency reserves to the highest level ever...," why aren't I surprised at yet another stunning display of foresight and leadership?
These reserves are for an emergency as the name implies. Are high oil prices an emergency? With the world the way it is today we may need these oil reserves someday to protect our countries sovereignty and freedoms. I think we need to be wise with these reserves and not waste them. |
Government is not reason; it is not eloquent; it is force. Like fire, it is a dangerous servant and a fearful master. - George Washington |
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Computer Org
Skeptic Friend
392 Posts |
Posted - 05/17/2004 : 15:24:48 [Permalink]
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As much as I don't like government, I suspect that on this one they (all those governments stashing away crude) are right.
What would happen if most or all of pumped crude suddenly became unavailable? The strategic reserves were never meant to be economic reserves; they were meant for tanks, planes and rockets. To no small extent, the threat to crude oil supplies is why the U.S. Navy went nuclear.
Nonetheless, as easy as it would be for me, sitting in year-around Florida heat, to say "Screw the petrol reserves!", the fact is that if pumped crude (or transported crude) were to suddenly dry up, there would be a lot of very cold New Englanders the following winter.
A sufficiently stocked strategic oil reserve is a necessity not just to fuel war machines but to keep the Mason-Dixon northward guys alive through the winter (---until the blanket industry can get truly in gear).
What bothers me about the strategic oil reserve is that I think that ours is in old salt mines not far from the New Madras fault lines. (Here's a sort of news blip about an earthquake on May 17, 2004: http://www.waff.com/Global/story.asp?S=1255022 )
Do you, NubiWan, know where the strategic crude is really being kept? I hope that I'm wrong about its location. |
Do thou amend thy face, and I'll amend my life. --Falstaff |
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NubiWan
Skeptic Friend
USA
424 Posts |
Posted - 05/17/2004 : 21:41:09 [Permalink]
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No, dunno where the actual reserves are kept. Thought for some vauge unknown reason, that they were using some dry oil wells, in the South some place around New Orleans way, but not at all certain.
Yes, yes, the ideal of a national emergency oil reserve, is a good one. Even thought so back when the republicans were last calling for a release, during a price spike back when our boy Bill,(Only Shurb could make me say that), was still making the job look easy. My intended point was to question, why are we now buying crude at a "high," when even we know to 'buy low?' Huh?
edit for spelling |
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| Edited by - NubiWan on 05/17/2004 21:45:45 |
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Computer Org
Skeptic Friend
392 Posts |
Posted - 05/19/2004 : 07:21:50 [Permalink]
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Ahhh. Buying high. Never even thought about that.
While I think that the Demogogues' current calls for releasing crude out of the reserves so as to lower pump-prices (and gather in some votes in Nov.) is plain stupid (if not actionable treason), the reserves are pretty full and buying more at current prices seems to benefit nobody but fat-catting oil men.
You're right --- I just didn't think crookedly (theivingly) enough; for some reason, I keep expecting a high degree of integrity from political appointees.
Errr. "Shurb"? Did you mean "Shrub", NubiWan? BTW, I just planted some shrubs that a green-grass guy had pulled out at one of his green-grass customer's house. I thought they were going to make it but three have already died and the other two look like they're soon to follow to shrub-heaven (or whereever it is that good, dead shrubs go). Don't know if this experience gives any indication about next November's election but . . . .  Better to stick with trees, methinks, than try the punier shrubs.  |
Do thou amend thy face, and I'll amend my life. --Falstaff |
| Edited by - Computer Org on 05/19/2004 07:23:04 |
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Valiant Dancer
Forum Goalie
USA
4826 Posts |
Posted - 05/19/2004 : 07:58:09 [Permalink]
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quote:
Originally posted by NubiWan
No, dunno where the actual reserves are kept. Thought for some vauge unknown reason, that they were using some dry oil wells, in the South some place around New Orleans way, but not at all certain.
Yes, yes, the ideal of a national emergency oil reserve, is a good one. Even thought so back when the republicans were last calling for a release, during a price spike back when our boy Bill,(Only Shurb could make me say that), was still making the job look easy. My intended point was to question, why are we now buying crude at a "high," when even we know to 'buy low?' Huh?
edit for spelling
I find it interesting that our boy Bill had the situation solved when the FTC started an investigation into price fixing. But yet the current administration is loathe to launch an investigation.
Oh, and on another note, you now have "My Boy Bill" from Carousel stuck in my head. I'll get you for that.... :)
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Cthulhu/Asmodeus when you're tired of voting for the lesser of two evils
Brother Cutlass of Reasoned Discussion |
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filthy
SFN Die Hard
USA
14408 Posts |
Posted - 05/19/2004 : 08:04:47 [Permalink]
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Yeh. Those reserves should have been topped off back when crude was 20 and-some-ood bucks the barrel.
All of this means that there is one hell of a lot of money (pried out of thee and me) floating around. One can only speculate what percentages are drifting into which pockets.
At any rate, the usual conspiricy blather is circulating about oil company thieves. Usually, I pretty much ignore that sort of thing, but with the administration we are currently afflicted with, I too, begin to wonder.
I find myself a little ambiviant about releasing some of the reserves. Clinton did it and got away with it, knocking down the prices when OPEC got out of hand during his administration. But we had no Iraq nor Afganistan, which are sucking up a lot of petrolium products of all sorts, at that time. I'm not sure that pumping the reserves would be a good move now.
Any way you look at it, we're fucked.
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"What luck for rulers that men do not think." -- Adolf Hitler (1889 - 1945)
"If only we could impeach on the basis of criminal stupidity, 90% of the Rethuglicans and half of the Democrats would be thrown out of office." ~~ P.Z. Myres
"The default position of human nature is to punch the other guy in the face and take his stuff." ~~ Dude
Brother Boot Knife of Warm Humanitarianism,
and Crypto-Communist! 
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NubiWan
Skeptic Friend
USA
424 Posts |
Posted - 05/19/2004 : 21:14:05 [Permalink]
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"Errr. "Shurb"? Did you mean "Shrub?"
Er.., well yeah. heh heh Letters are mere playthings to me.
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Dude
SFN Die Hard
USA
6891 Posts |
Posted - 05/26/2004 : 02:37:48 [Permalink]
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quote:
But yet the current administration is loathe to launch an investigation.
The current administration is loathe to investigate anything that may negatively impact their polls. They have ignored numerous calls for independent investigations into may things that have occured during this presidency...
Dean (the Nixon guy, not the democrat Gov guy) has a book out called Worse Than Watergate that talks about how secretive this (Bush) administration is. It's damn scary. |
Ignorance is preferable to error; and he is less remote from the truth who believes nothing, than he who believes what is wrong.
-- Thomas Jefferson
"god :: the last refuge of a man with no answers and no argument." - G. Carlin
Hope, n.
The handmaiden of desperation; the opiate of despair; the illegible signpost on the road to perdition. ~~ da filth |
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