Congress push to stop SPR shipments gains steam (Strategic Petroleum Reserve)

[maddezmom]

Source: Reuters

WASHINGTON (Reuters) - A plan to require the U.S. government to stop filling the nation's emergency crude oil stockpile until prices drop has enough votes in the U.S. Senate to overcome a likely presidential veto, a Democratic lawmaker said on Tuesday.

Sen. Byron Dorgan of North Dakota said he has lined up the support of 68 senators -- enough to override a presidential veto -- for his plan to delay filling the Strategic Petroleum Reserve until the end of 2008 or oil prices fall below $75 a barrel, versus current levels near $120 a barrel.

That's after 16 Republicans on Tuesday broke ranks with President George W. Bush to back a temporary halt to filling the U.S. emergency crude oil stockpile, adding to the 51 Democrats who support the move.

Dorgan says he plans to offer his plan to a bill being debated by the Senate to reauthorize funding for the Federal Aviation Administration.



Read more: http://news.yahoo.com/s/nm/20080429/pl_nm/congress_oil_spr_dc;_

[icnorth]

1. Lord Cheney of Halliburton will not be pleased. eom

[Caretha]

6. I wonder if the truckers protest is

having more of a impact than we realize. The ones that drove to Washington are definitely calling their congressman, and I'll bet you awhole lot of them that didn't.

[ToughLuck]

2. Well lookie at that, 16 Republicans brake with Bush the war criminal

[dipsydoodle]

3. What's the timescale on this ?

Any idea ? Just asking.

Dimson said "The oil in question amounts to one-tenth of 1 percent of the world's daily oil needs is not enough to make a difference in prices." and there speaks the man who'd fail Walmart's vegetable recognition test. How come the maths all of a sudden ?

[sendero]

4. There is at least even odds....

... that we will never see $75 oil again.

[FormerOstrich]

5. When was the supply depleted....

and what percent full is it? How long have they been using 70,000 barrels per day? Just curious....

"The SPR currently holds nearly 701 million barrels of crude oil"