Senate votes to stop filling Strategic Oil Reserve

[wordsmythe]

The Hill Mobile - Senate votes to stop filling Strategic Oil Reserve

by Klaus Marre
05/13/08


The Senate on Tuesday voted with overwhelming support to stop filling the Strategic Petroleum Reserve in order to reduce the cost of gasoline.

Democratic presidential candidates Sens. Barack Obama (Ill.) and Hillary Rodham Clinton (N.Y.) rushed back to Washington to be part of the 97-1 vote. Only Sen. Wayne Allard (R-Colo.) opposed the measure. Sens. John McCain (R-Ariz.) and James Inhofe (R-Okla.) did not vote.

Democrats today led the charge against one of the root causes of skyrocketing oil and gas prices, said Senate Majority Leader Harry Reid (D-Nev.) following the vote. Instead of hiding barrels of oil in the nearly full Strategic Petroleum Reserve, we want to put them on the market to increase supply and lower prices.

Reid called passage of the measure a good first step, but added that more must be done.

Republicans must abandon their shortsighted strategy of drill, drill, drill and join us to pass the rest of the Democratic energy bill that puts consumers first, forces Big Oil to pay its fair share and invests in renewable energy, Reid said.

Republicans also hailed the vote.

There are no quick fixes in dealing with this issue, but there are things the federal government can and must do, said Georgia Sen. Johnny Isakson (R). Temporarily halting deposits to the reserve sends the signal to the global market that the United States will take measures to address excessive oil prices.

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Hmmm I think it was Army who asked how the president has any control of the price of gas. I guess if he hordes oil then there's less on the market and as we've all heard so much about supply and demand, the price goes up even more.

Who would benefit from something like this?

Big Oil companies and the Saudis...

Aren't they the Bush family friends?

It's about time the republicans in Congress start to see that their jobs are going to be on the line in this next election cycle and they start playing ball with the majority on something.

[Detector]

Correct me if I'm wrong, but isn't that our "emergency" oil reserves? While I'd love to be paying $1.50 a gallon for gas, I don't think Americans unwillingness to stop driving their gas guzzling SUVs constitutes an emergency. It's only a temporary fix, conveniently at election time, that will do nothing for the price of oil later.

Democratic presidential candidates Sens. Barack Obama (Ill.) and Hillary Rodham Clinton (N.Y.) rushed back to Washington to be part of the 97-1 vote.

Now thats a real surprise. Looking for another brownie point come election time.

[wordsmythe]

it's 97% full

And it's usually kept at about 50%

W's just helpin drive the price up.

[Tee]

Originally Posted by wordsmythe

The Hill Mobile - Senate votes to stop filling Strategic Oil Reserve

by Klaus Marre
05/13/08


The Senate on Tuesday voted with overwhelming support to stop filling the Strategic Petroleum Reserve in order to reduce the cost of gasoline.

Democratic presidential candidates Sens. Barack Obama (Ill.) and Hillary Rodham Clinton (N.Y.) rushed back to Washington to be part of the 97-1 vote. Only Sen. Wayne Allard (R-Colo.) opposed the measure. Sens. John McCain (R-Ariz.) and James Inhofe (R-Okla.) did not vote.

Democrats today led the charge against one of the root causes of skyrocketing oil and gas prices, said Senate Majority Leader Harry Reid (D-Nev.) following the vote. Instead of hiding barrels of oil in the nearly full Strategic Petroleum Reserve, we want to put them on the market to increase supply and lower prices.

Reid called passage of the measure a good first step, but added that more must be done.

Republicans must abandon their shortsighted strategy of drill, drill, drill and join us to pass the rest of the Democratic energy bill that puts consumers first, forces Big Oil to pay its fair share and invests in renewable energy, Reid said.

Republicans also hailed the vote.

There are no quick fixes in dealing with this issue, but there are things the federal government can and must do, said Georgia Sen. Johnny Isakson (R). Temporarily halting deposits to the reserve sends the signal to the global market that the United States will take measures to address excessive oil prices.

--------------------------------------------------------------------

Hmmm I think it was Army who asked how the president has any control of the price of gas. I guess if he hordes oil then there's less on the market and as we've all heard so much about supply and demand, the price goes up even more.

Who would benefit from something like this?

Big Oil companies and the Saudis...

Aren't they the Bush family friends?

It's about time the republicans in Congress start to see that their jobs are going to be on the line in this next election cycle and they start playing ball with the majority on something.

Regergitating democratic blurbs again?

I like the part you hilighted. IT WAS BY ONE VOTE WORDY! So this contitues "democrats leading the charge"??

Your hatred for Bush has blinded you to reasoning on your own. You blindly accept the democrats' talking points and regergitate them just like they expect you to do.

Typical mind-numb liberal robot.

[Highwayman]

70,000 barrels a day into the reserves out of our total use of 21,000,000 barrels a day.

That’s about 1.4%.

The stories of saving a few nickels at the pump will be overwhelming.

Thanks for thinking big there Harry.

[ksgrainman]

Interesting chart HW, I knew the Demmies had screwed up the housing thing in 2 short years, now we know what they have done to the energy prices. Thanks.

[88-31-10]

Kinda matches this one.....

[88-31-10]

Originally Posted by Highwayman

70,000 barrels a day into the reserves out of our total use of 21,000,000 barrels a day.

That’s about 1.4%.

The stories of saving a few nickels at the pump will be overwhelming.

Thanks for thinking big there Harry.

It hasn’t affected me much. Adjust for inflation and offset by the better mileage of today’s cars against older cars and works out about the same as thirty years ago.-----Highway April 25,2008

[wordsmythe]

Originally Posted by Tee

Regergitating democratic blurbs again?

I like the part you hilighted. IT WAS BY ONE VOTE WORDY! So this contitues "democrats leading the charge"??

Your hatred for Bush has blinded you to reasoning on your own. You blindly accept the democrats' talking points and regergitate them just like they expect you to do.

Typical mind-numb liberal robot.

wow your posts are usually better thought out...

This was passed mya HUGE margin and that is a charge your boys fell in line behind. The one vote was the single dissenting vote and McCain didn't even think it would be a good use of his time to go on record for this issue.

Bush is too much of a tool for me to hate him but I do hate what him and his neocons have done to this country.

You sliding farther to the right must mean I'm not one of your favorite people anymore. Maybe your assimilation by the right wing drones has blinded you and messed up with your comprehension.

[Highwayman]

Originally Posted by 88-31-10

It hasn’t affected me much. Adjust for inflation and offset by the better mileage of today’s cars against older cars and works out about the same as thirty years ago.-----Highway April 25,2008

Gas prices peaked in 1981 (see link) and my 1979 GMC got 10mpg tops. Currently my 1994 GMC gets 16 to 17mpg on the highway, 13 in town. So compared to 1981 gas is up less than 20% and my mileage is up about 60%.

Inflation adjusted Gasoline Price Chart

Halting the filling of the reserves is an election year gimmick and won’t do anything real for consumers.