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View Full Version : Senate Votes To Stop Filling Strategic Oil Reserves - interesting

MJN
05-13-2008, 04:17 PM
http://thehill.com/leading-the-news/senate-votes-to-stop-filling-strategic-oil-reserve-2008-05-13.html

What say you about this?
Sara R
05-13-2008, 05:12 PM
Sounds pretty dumb to me. Do they think gas will be less expensive in the future? That is, are they certain gas will be less expensive in the future? Do they think we will stop needing it? Those are the only reasons I can think of to quit filling the "strategic reserve." The reserve is not what caused high prices and it won't solve them.
Pam "SFSOM" in TN
05-13-2008, 05:31 PM
http://thehill.com/leading-the-news/senate-votes-to-stop-filling-strategic-oil-reserve-2008-05-13.html

What say you about this?

The reserves are 97% full at the moment. But I think it's pretty doggone shortsighted to stop refilling them.

Bush is right! :D

[Somebody needs to mark this event on the calendar or something, as I do not imagine it will happen again.]

:patriot:


:gnorsi:
nancypants
05-13-2008, 05:42 PM
I don't see how it will help, that's for sure. Seems like that would only make it worse. But what do I know?? :tongue_smilie:
Janna
05-13-2008, 05:52 PM
That doesn't make sense to me why that would be a good idea to do. It seems foolish, to be honest. They didn't say how much they would be releasing either. So to what percentage would they be bringing the reserves down to? It also bothers me that McCain didn't vote on it.
LizzyBee
05-13-2008, 06:08 PM
That doesn't make sense to me why that would be a good idea to do. It seems foolish, to be honest. They didn't say how much they would be releasing either. So to what percentage would they be bringing the reserves down to? It also bothers me that McCain didn't vote on it.

I didn't get the impression that they'll remove anything from the reserves, just that they won't add anything to them for awhile. The oil that would have been added to the reserves will be available on the market. Bigger supply + same demand = lower price.
Janna
05-13-2008, 06:48 PM
Hmm, yes, after re-reading, I can see that. I'm not sure why I jumped to the conclusion they would remove reserves. Your take makes much more sense. Sorry 'bout that. :)