Bush has decided it necessary to crack open the reserves. Wrong! He has great intentions but I truly don't think this is the national disaster that we were waiting for. These reserves aren't there to lower the cost of gas and secondly, the oil is unrefined. The reason he wants to dip into the reserves is because we lost refineries. Where are we going to refine this oil?
Don't get me wrong, I completely sympathize with the victims but this is a national stockpile that is meant for emergencies like terrorist attacks or the US getting cut off by OPEC. If we don't use the reserves, all that will happen is another hike in prices. I can handle that. We all can handle that. If we couldn't, we'd be driving less. I don't want to but I rather pay out-of-pocket now than pay later.
Everyone has to understand that oil prices are so high because the demand is so high. The price of gas is a combination of supply and demand. We keep demanding at a faster rate than they can supply. Simple economics. I don't have a doubt in my mind that since these hikes occurred, no one has dramatically reduced their driving. Sure, people are becoming more efficient when running errands or picking up the kids, but I haven't noticed less traffic. I still see plenty of SUV's.
Sorry, I'm getting tangential. Like I said, this national stockpile must be conserved. Did you know that it isn't even full yet? We can't even wait til we are at capacity! I guarantee bigger tragedies that will require this stockpile. Again, I can't emphasize my deepest sorrows for the victims of this tragedy but it isn't aimed at them. This oil must be conserved. Trust me. Maybe instead of wasting our reserves, maybe we should all drive a little less. Use less power (power companies use gas.) Call Bush and tell him not to break the seal.
To forewarn you, don't panic, wait until you see the price of gas next year.
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9% of the refined fuel in this country comes from that area. Keywords are 9 and refined.
On the plus side, the EPA has temporarily lifted fuel regulations for diesel and gas, which means I might not have to pump reformulated into my tank, that would be nice.
I agree that releasing unrefined oil reserves is foolish. The only way to relieve us of high gas prices is to build another refinery and to eliminate boutique types of gasoline. These things may happen, but not right away. Gas will stay where it is at.
For the record, I am almost sold out of diesel passenger sedans (they get 45+ mpg on the highway) and they are selling at $500 over list. Gas has also jumped up locally $0.50 overnight to $3.29per gallon. :) I don't have an ess-you-vee. :)
1) The reserve IS full--700 million barrels.
2) He tapped them because it's the political thing to do--not the right thing to do. GWB is not a conservative, he's a Republican. Big difference.
3) The recent Energy Act provides for ADDING 300 million + barrels to the reserve, by the way. Any guesses as to why?
Wow, so we would peak, when full, one billion barrels in reserve. Do you know how much we consume each day? 20 million barrels. Carry the 3, square root of 7, you get 50 days. Wow. Then you should consider all the hoarding that would occur and knock off a week.
And no, I don't know why we are adding 300 million barrels, maybe because 700 million barrels would last just a shade over a month.
And yes, W is more Republican than conservative however, I feel his intentions are for the suffering and for the rest of the nation, for that matter.
Go ahead check the stats:
http://www.eia.doe.gov/neic/brochure/gas04/gasoline.htm
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