Re: Fuel Price

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The above are my words.
Regardless, there are two reasons for a president to tap the reserves, 1) political favor, 2) economic gain or stability.
--
Max

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You forgot one, how about need.
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favor,
Since I don't believe that Bush is running for any type of office at this time, what does what Gore may have done have anything to do with now???

(if
and
the
But what you seem to be missing is the fact that global futures are going up and unless the supply is strained, that simply would not happen, at least no to the level that it currently is.
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I know this one!
From http://www.rednova.com/news/science/204323/a_superfluous_petroleum_reserve /
In September of 2000, President Bill Clinton ordered the release of 30 million barrels of oil from the SPR to offset a spike in heating oil prices in the northeast. The decision came one day after an appeal from Vice-President Al Gore, who was locked in a tight (and ultimately unsuccessful) presidential campaign. The political motivations for Clinton's decision are worrisome, as is the minimal effect. At the time, refineries were operating at full capacity, so the excess crude did little to lower heating oil prices. There was simply a shortage of heating oil on the market, not crude. Even the White House admitted that only about 40 percent of the released oil would eventually be converted to heating oil.

He's proven it more times than I can count.
A puny release of US oil reserves to

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http://www.rednova.com/news/science/204323/a_superfluous_petroleum_reserve /
prices
Clinton's
percent
and
Yea, and you have had such useful input in the group. Now GFY.
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Tbone chokes on the truth........
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Max

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Gee, now look at the one who responds to posts that have nothing to do with them, LOL. Like I said before Max and Tom commented on, stop accusing me of the things that you do.
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"Max Dodge" < snipped-for-privacy@verizon.net> wrote in message
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TBone wrote:

A very small amount to help local refineries effected in the region. Not to control gas prices which it will not do.

No it won't. That was the Dems stupid attempt to lower prices by releasing oil from the reserves a few years back. How much oil do you believe are in the reserves anyways? Bush has said he may approve releasing to help local refineries effected. Not to try to lower prices by increasing supply. Geez.

There are 954 platforms in the gulf coast region. 12 were shut down as of sunday afternoon. Those 954 platforms account for 40% of the domestic oil output. The small amout from the closed platforms is what is to be replaced from the reserves to supply refineries that are otherwise uneffected by the hurricane. There is not enough in the reserves to plummet prices as you seem to believe.
The gas price rises are because of the futures market. Prices have risen rapidly since Jan. 1, not just since the hurricane. During that time from Jan.1 supplies and stocks have been steady. I would have thought you of all people would be spewing that the corporate run oil companies that make so many Reps rich are to blame. Oh ya, that was last years rants. This year it's high demand from greedy Reps.
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Well said, sarcasm understood. By me, anyway...... doubt if Tbone will get it.....
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Max

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risen
from
make
This
get
LOL, any port in a storm, huh Maxi.
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654 million barrels. Since the USA uses 19.5 million barrels a day for everything the small amount released from the strategic reserves just might drop the price at the pump a half cent per gallon or so. There are hundreds of ships still on the high seas loaded with crude that haven't even reached port yet but their cargo continues to gain in value because of market speculation.
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And where exactly are these tankers going to unload and how is that going to help the Midwest?
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TBone wrote:

What? They aren't stuck out there you know. Crude has changed in value on ships since crude was first loaded on a ship. You think these tankers drive up a river or something. They can unload in any port with storage just like they always have.
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going to

Sure, you can unload it provided that the other ports have room for it but many of these other ports already have a full load of ships coming in and the real problem is getting the crude to where it is needed, not just getting it off of the ship.
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shit.
If the price is being driven up purely by speculation, any release from the stragic oil reserves will just about erase it due to investor fear. You can also add in the fact that unless supplies are already strained, there would be no major increase in price due to speculation because the risk level would simply be WAY TO HIGH.

speculating to

reserves
I think that you need to review the futures market a little bit.

I never said that he intended to reduce the cost although doing it would boost the economy. He is doing it because the shortage due to the hurricane is real and is the reason for the sudden jump in prices, not just greedy investors.

As of this morning, Shell announced that NONE of its platforms are producing in the gulf.

And if the transportation network is damaged, under water, and for the most part unusable, where is this oil going to go.

believe.
Yawn, investors tend to panic, especially if supply is good and is being increased. There does not have to a major addition of supply to cause that to happen.

And the futures market is based on supply and demand. If the supply exceeds the demand, the price does not skyrocket like it has in the past few months.

During that

Yea, but at just about 100% production levels.

run oil

Oh, stop crying Miles. It is a combination of both and not just the Reps.
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TBone wrote:

Geez the ignorance on your part is just unbelievable. You really seem to think a puny amount of US domestic oil released is going to change global futures speculation.
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the
Damn right, just like a slight bad report can cause a stock to crash. If the supply was not strained, the risk would be way to high to push the prices to the level that they currently are and at the first sign of something that could cause the price to fall would cause a selloff. The reason that the selloff isn't happening is because they know that the supply is limited and will soon be exceeded by demand, especially in the light of this storm damage.
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