What's all this about * filling the strategic reserves?

Is * buying oil to fill up our reserves at these prices!? Is that driving up demand? Does he know that it is currently as cheap as it will ever be again?

What's the straight poop?

they can have an effect on prices, but i don't think they could have a large, sustained price effect. it's not like the fed and the money supply.

Probably enough to have a noticable effect.

His business skills probably aren't that great, from what I gather.

He's probably just lining the pockets of his oil buddies. Or we've hit peak crude or some such thing. Or he's planning on making Middle East crude unuseable for quite some time.

is not just now being filled back up again. It started during
Clinton's admin believe it or not.
I can't remember the total billions of barrels of crude oil that it
can hold, but at current US consumption it would hold out the US
for approximately 6 months...and that's not for casual consumer
use either...just factories and "war-related" activities...

Clinton announces home heating oil reserve for Northeastern states
<http://www.cnn.com/2000/ALLPOLITICS/stories/07/10/clinton.oil/>

Excerpt:

"WASHINGTON (CNN) -- President Clinton announced on Monday the creation of a home heating oil reserve for the Northeast that would utilize two million barrels of crude oil from the U.S. Strategic Petroleum Reserve."


Additionally, gas prices had been rising throughout late 1999 and into 2000. That coupled with Greenspan's raising of the interest rates throughout late 1999 and into 2000 created some real problems for the booming economy.

The NeoCon Coup allowed Junior and his cronies to further destabilize the economy into a recession from which we've never recovered. The tax cut for the wealthy, and the events of 911 certainly didn't help matters at all. And now we're locked into a war that is sucking out the lives of our soldiers and the last of our strained resources.

that's a huge improvement. Way to go dumbyah.

Calls grow to tap U.S. oil reserves
<http://www.kansascity.com/mld/kansascity/news/nation/8690570.htm?1c>

Excerpt:

"The Democratic call will echo some oil industry officials, who say Bush should at least stop shipping about 170,000 barrels a day to the Louisiana salt caves that hold the emergency supply. The reserve currently holds nearly 660 million barrels, a record. The administration intends to keep filling it until it reaches its 700 million-barrel capacity, Energy Department spokeswoman Jeanne Lopato said.

'Our policy…has been clear for a long time,' Treasury Secretary John W. Snow said Monday. Oil will be released only for 'genuine emergencies,' not price fluctuation, he said.

The national average price of a gallon of gasoline has jumped to a record $2.017, up 1.8 cents from the previous week."


Snow and the rest of the NeoCons will find out what a "genuine emergency" really is when a general strike is called because most of the working people of America can no longer drive to work or transport goods to market.

And no...we've seen the last of gasoline prices below the level of $2.00 a gallon. Add to that the fact that real wages are falling, most of the jobs being created are temporary in nature, and the cost of virtually everything is rising.

The situation is becoming more serious by each passing moment.

Gas prices will fall dramatically in September and October leading into the election. Count on it!

Even if big oil has to take a loss, they'll fight to keep Bozo in office. The Saudis will pressure Opec to increase production going into the election. For now, the Exxon Mobils will keep reporting record quarterly earnings until post-convention time. They've got to make thier profits now.

We heard this shortage crap in the Carter years, and then after Reagan was elected the gas shortage miraculously started to go away.

Ever wonder why?

a deal with the Saudis for that one.

...information, but that was wrong, too. The NeoCon Pentagon-based OSP is to blame for the falsified Iraqi WMD. They were the source of the information that found its way into Junior's State of the Union address, and into Powell's UN speech.

I doubt seriously that Junior has a deal with the Saudis. That agreement was publicly exposed recently and the Saudis publicly proclaimed shortly afterward that there was no deal. The only people that could have know about that other than the NeoCons and the Saudis was the CIA.

...Big Oil wants the profits that they were promised in Iraq. They are going to get those profits from us anyway that they can.

Don'r be too sure that Big Oil wants to keep Junior in office. Junior failed to successfully follow through on every single campaign promise that he made, and that includes the promises he made to Big Oil.

And yes, I know all about the so-called oil shortages. I was pumping gas working my way through college when the first one hit in 1973. That one was engineered by OPEC who felt that the U. S. was not paying enough at the pump. The rest of the shortages have been engineered by our people purely for the sake of greed.