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Post by chrisfan on May 18, 2004 15:22:22 GMT -5
Okay, new topic. Gas prices suck. John Kerry yesterday and Chuck Schumer today are calling on the president to stop filling the reserves, and start letting some of the oil out of them. Should he?
On the surface, it seems like a logical thing to do. But I'm leaning towards being against it. After all, we have them for an EMERGENCY. While $2 gas sucks the big one, I don't know that i call it an emergency.
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Post by Galactus on May 18, 2004 15:30:39 GMT -5
How much oil do we have stock piled? It's alot I Think. I don't think we should just open it all up...but a few thousand barrels to ease the burdon couldn't hurt too much.
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Post by Galactus on May 18, 2004 15:32:50 GMT -5
This should actually be a huge wake up call to invest in soime alternative energy sources...but that would make all that oil less valuable and we couldn't have that...let 'em walk, we're all over weight anyway...
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Post by chrisfan on May 18, 2004 15:34:01 GMT -5
But isn't there a reason that we have the amount on reserve that we do? It seems that the only time we even hear about the reserves is in an election year, when the gas prices go up. So do we have the reserves for political purposes, or do they serve a real strategic role?
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Post by chrisfan on May 18, 2004 15:37:21 GMT -5
Okay, I take that back. Based on the info I just read, the purpose they serve is to protect us from an uncontrolled slow down of our oil supply that threatens our economy. They were started after the 70s oil embargo. So perhaps it is time to open them up a bit.
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Post by Galactus on May 18, 2004 15:42:34 GMT -5
Both I think. Don't we sell some of it to china? Why don't we keep putting the oil from Texas in reserve and the oil from Alaska could be released until we can get better prices on foreign oil. I don't think we have set amount of oil in reserve...I think we're just putting most domestic oil there. What would be an emergency? I agree that this isn't one yet...but what would constitute and emergency worthy of opening the reserve? Which I'd like to point out would make a lot of very rich men not so rich anymore...
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Post by Ampage on May 18, 2004 15:47:53 GMT -5
Or we could go suck up the millions of gallons we have polluted our waterways with. But I'm not bitter....
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Post by chrisfan on May 18, 2004 15:49:04 GMT -5
I heard someone arguing this morning that with as many terrorists as there are in Iraq right now, willing to do whatever it takes to get their way, that the middle east oil could be in danger, and that's why we should not open up the reserves. But according to the DOE website, there is a max to the reserves, and we're currently still filling them rather than holding or releasing any oil. That site also says that the expressed purpose of them is to protect us from any time that the oil supply threatens our economy. I'd venture to say that we are there. I will admit that I have not heard each side of this argument out fully, but based on the initial information, it seems to be it's time to start pulling it.
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Post by Galactus on May 18, 2004 16:01:41 GMT -5
We have 700 million barrels in our reserves...I wonder what the max is?
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Post by Galactus on May 18, 2004 16:07:23 GMT -5
Though I also read a theory that we are claiming to have more then we actually do for political purposes. ONe essay from a geologist says he thinks every country is claiming "paper oil" which is oil that isn't secured or simply doesn't exsist. I know we heard it before but he also says we've hit the midway point that oil production can only go down. He estimated fifty years before we run out but admits that's just a guess. Just something to think about...
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Post by Heavymetalfanatic on May 18, 2004 16:29:21 GMT -5
YER ALL A BUNCH OF GODDAMN MORONS!!LOLOLOLOLOLOL!!!!
TEXTTEXT[/color]
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Post by Galactus on May 18, 2004 16:42:24 GMT -5
Oh look, our first troll...oh it is begining to feel like the old days again...
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Post by chrisfan on May 18, 2004 16:43:00 GMT -5
Though I also read a theory that we are claiming to have more then we actually do for political purposes. ONe essay from a geologist says he thinks every country is claiming "paper oil" which is oil that isn't secured or simply doesn't exsist. I know we heard it before but he also says we've hit the midway point that oil production can only go down. He estimated fifty years before we run out but admits that's just a guess. Just something to think about... I quit listening to the "we're running out of oil" predictions when we hit the mark several years ago that geologists were predicting we'd be out in the 70s, and we still have ... what now? 50 years to go? And just think of how much more we'd have if we actually allowed it to be drilled for places other than deserts in other countires. Anyway, the more reading I've done on this issue, the more contradictory "facts" I've found. I've read from reliable sources saying both that the purpose of the reserves is to prevent an economic disruption, and for extreme emergencies only. My gut feeling is that they'd be for extreme emergencies only. IF that is the case, then I'd say we need to leave it in there now. Otherwise, it'd be kind of like tapping into your 401K to pay your rent, because the cost of CDs and video games are going up. Further, if that is the case, then I think it's time that the White House FINALLY takes back the communication stance that they had back in the Karen and Ari days, and start calling Kerry and Schumer on the carpet for making a political issue out of a strategic question. |
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Post by Meursault on May 18, 2004 16:45:15 GMT -5
I'm just wondernig who gave the troll the adress.
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Post by Ampage on May 18, 2004 16:47:28 GMT -5
Well, we all know that the high prices will come to an end somewhere around, em, er, ahhhhhh, lemme see......I would say somewhere around, oh, I don't know............ELECTION TIME!!!!!
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