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Hopefully it will mean lower gas prices for all of us. But not until August.
Their hoarding gas in preparation for their pending war is part of what is driving up gas prices and we are all paying for it.
Chartreuse
Yellow Solar Sun
My guess is that in the end this will have little if any impact on prices. There's too much to counteract it - the summer driving season, hurricane season, and the fact that people ARE cutting back on their driving due to higher prices but if the prices were to dip, they'd go right back to their old ways, driving up demand, and prices, anyway.
And the fact is that just like having cash put away for a rainy day, having oil put away is a damn good idea.
And the fact is that just like having cash put away for a rainy day, having oil put away is a damn good idea.
Yea, it's really important, because it accounts for 1% of the oil.
I doubt you will see .02 cents difference in the price. Goldman just called for 141 oil, but I think that is low.
We should be putting MORE away not NONE.
Now leave me alone while I go buy more solar panels and dig out the bunker a little, ok, ALOT more.
I doubt you will see .02 cents difference in the price. Goldman just called for 141 oil, but I think that is low.
We should be putting MORE away not NONE.
Now leave me alone while I go buy more solar panels and dig out the bunker a little, ok, ALOT more.
"See? See?!? We're doing something! Vote for us in November and we'll KEEP doing things for you!"
More election-year meaningless bullsh*t from the politi-whores.
More election-year meaningless bullsh*t from the politi-whores.
Kendo
Inactive
It means you missed this thread posted 7 minutes before yours.
http://www.timebomb2000.com/vb/showthread.php?t=288202
Anne in TN
Deceased
It means you missed this thread posted 7 minutes before yours.
http://www.timebomb2000.com/vb/showthread.php?t=288202
Are you sure you are right about that?
It appears that the other Thread was started 15 minutes later than this one. This one started at 1:12pm and the other started at 1:27pm.
Oilpatch Hand
3-Bomb General, TB2K Army
It's not that important, really. It won't make a bit of difference in gasoline prices, but it might save the federal government a few thousand dollars per day for a while, which they will waste elsewhere.
The decision to stop stockpiling oil is a political move that is aimed to convince people that their elected politicians are doing something to help them. These politicians know that most people are that ignorant. The difference this will make in the price of gas is insignificant; especially considering how important those stockpiles will be during a crisis.
I would think anyone on this board would appreciate our government prepping for a future crisis. This is a prep forum.
Yes a war is very possible, our enemies have been preparing for one. The fact that we will stop filling our own reserves just to save pennies is short sighted and IMO stupid.
ohiohippie
Veteran Member
pelosi said in an imterview on larry king that it will be a decrease of 5-25 cents on the gallon, depending on where you live.
i will be surprised to see 3cent decrease, myslef!
hippie
i will be surprised to see 3cent decrease, myslef!
hippie
Me too! Besides, at this point does 5-25 cents really make that much of a difference?
The Flying Dutchman
Deceased
Actually OH; it is my understading that the oil which was being placed in the Strategic Reserve. Was oil which the fed.gov received as their tithing in leiu of being given the money for their 'percentage' of oil wells being pumped on Federal Lands.
Sooooooooo; in all actaulity. The oil to fill the Strategic Reserve was not being bought with tax payer monies.
*It was quoted that 19 thousand barrels were bein put in the Reserve.* Which is significantly less then 1% of the U.S.'s daily consumption of oil...
Warandra
Membership Revoked
Of course, the best time to travel will be just before the election. So, make your plans, now.
WildDaisy
God has a plan, Trust it!
What war is that? They started "hoarding" in 1975. Wow, that's planning.
night driver
ESFP adrift in INTJ sea
It means that we will add four one hundredths of one percent to our daily oil intake.
5 to 15 cents a GALLON decrease is a neat set of numbers. I suspect Ms Pelosi had to stand up from her chair to pull those out of where she got them. there willbe NO change in the price of gas from this, and teh SPR will be 70K bblpd poorer when we NEED it to power our navy and air force.
fecking scum.
5 to 15 cents a GALLON decrease is a neat set of numbers. I suspect Ms Pelosi had to stand up from her chair to pull those out of where she got them. there willbe NO change in the price of gas from this, and teh SPR will be 70K bblpd poorer when we NEED it to power our navy and air force.
fecking scum.
night driver
ESFP adrift in INTJ sea
Ed, they STOPPED filling it...
Oilpatch Hand
3-Bomb General, TB2K Army
I think you're referring to the "payment in kind," program, and yes, that share of oil may well be what they're using to fill the SPR. If so, however, then this move not only doesn't help move the price of crude oil downward appreciably, but it's not even saving the taxpayers any money, either.
To that end, it may be worse than doing nothing at all.
rafter
Since 1999
"See? See?!? We're doing something! Vote for us in November and we'll KEEP doing things for you!"
More election-year meaningless bullsh*t from the politi-whores.
Yep, exactly.
It will make the 'little people' feel like we care...
If I understand the matter correctly the Strategic Oil Reserve is at 97% of capacity. The amount being put into the reserve monthly is a tiny fraction of the monthly oil consumption in the U.S. Stopping the filling will, as a proportion of monthly consumption, be so small as to have NO impact on the price of oil.
The fact that the Administration is waiting until August to stop the filling is an added factor suggesting that the act to stop filling the Reserve will have even less of an impact than otherwise. The Summer driving season will be winding down at that time so consumption oil will be falling at that time. Further, by adding another three months (2+) it's possible that the Reserve might be filled or nearly so by the time the program is ended. So, in this light, the Congress appears to be doing something, and the Administration gets to fill the reserve.
A personal comment: Based upon the projections of the Web Bots we would do well to have the Strategic Oil Reserve full, and then some, by October 2008. On this issue, score one for the Administration.
IMO,
Woolly
The fact that the Administration is waiting until August to stop the filling is an added factor suggesting that the act to stop filling the Reserve will have even less of an impact than otherwise. The Summer driving season will be winding down at that time so consumption oil will be falling at that time. Further, by adding another three months (2+) it's possible that the Reserve might be filled or nearly so by the time the program is ended. So, in this light, the Congress appears to be doing something, and the Administration gets to fill the reserve.
A personal comment: Based upon the projections of the Web Bots we would do well to have the Strategic Oil Reserve full, and then some, by October 2008. On this issue, score one for the Administration.
IMO,
Woolly
Scotsman
Inactive
Amen to that my friend.
The strategic petroleum reserve is there NOT for civillian use, but for the MILITARY. To stop filling it is beyond stupid....it's suicidal. Our planes need JP-8, our tank treads need grease, our rockets need fuel, etc.
Our politicians are selling our future to PRETEND to support our present.... fracking idiots....