Senate says halt oil reserve shipments

[maddezmom]

Source: AP

WASHINGTON - The Senate, in a direct challenge to President Bush, voted Tuesday to temporarily halt the shipment of thousands of barrels of oil a day into the government's emergency reserve.


Both Democrats and Republicans said such shipments make no sense when oil is costing more than $120 a barrel and could better be used to add supplies to a tight market and possibly lower prices.

"We are buying the most expensive crude oil in the history of the world and storing it," said Sen. Byron Dorgan, D-N.D. "When American consumers are burning at the stake by high energy prices, the government ought not be carrying the wood."

Until both chambers of Congress pass the emergency reserve directive and Bush signs it — or Congress enacts it over a presidential veto — the legislation has no force of law. But the Senate's message to the president Tuesday was a strong one.



Read more: http://news.yahoo.com/s/ap/20080513/ap_on_go_co/congress_energy;_

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Bush pumps up reserve
President Bush is not just rejecting bipartisan calls to lower gas prices by cutting purchases for the Strategic Petroleum Reserve — he’s making the reserve bigger and filling it fuller than ever before.


Bush has filled the Gulf Coast salt caverns that house the reserve with 703 million barrels, about 97 percent of the reserve’s 727 million-barrel capacity. That’s the most the reserve has ever held, and it’s the largest emergency oil stockpile in the world.



Congress wants to turn off the nozzle, and the House and Senate are each expected to vote Tuesday on bills that would temporarily stop filling the reserve, sometimes referred to as America’s biggest gas tank.


Sen. John McCain (Ariz.), the GOP’s presumptive flag-bearer in the presidential race, supports the move, as do both Democratic presidential candidates.


Bush has not offered a position on the bills, but opposes the concept of suspending deliveries. He has said that the amount of oil pumped into the reserve, 70,000 barrels a day, is so miniscule compared to global demand that it won’t affect oil prices.


“The president believes that we need an even larger Strategic Petroleum Reserve in order to protect ourselves against oil shocks,” White House spokeswoman Dana Perino said Monday. The White House has stopped short of a veto threat.

more:
http://thehill.com/leading-the-news/bush-pumps-up-reserve-2008-05-12.html

Bush takes aim at rising gasoline prices
Summer deposits to national oil reserve halted

Wednesday, April 26, 2006


WASHINGTON (CNN) -- Calling the oil issue a matter of national security, President Bush outlined a plan Tuesday to cut gasoline costs and temporarily stopped deposits to the U.S. Strategic Petroleum Reserve.

Bush is delaying this summer's deposits to the reserve -- an emergency stockpile of government-owned crude oil -- as he faces political pressure from campaigning members of Congress and anger from consumers about high gas prices.

"So by deferring deposits until the fall, we'll leave a little more oil on the market," Bush said during a speech in Washington at the Renewable Fuels Association, a trade group for the ethanol industry. "Every little bit helps." (Watch Bush tout his plan to cut gasoline prices -- 3:29)

more:http://www.cnn.com/2006/POLITICS/04/25/bush.energy/

[no_hypocrisy]

1. I'd be more thrilled with the Senate taking action on the $9 Trillion Deficit

and making the dollar stronger.

[ingac70]

2. Bush hoarding all this oil...

adds to the deficit. They are buying up oil @ around $125 a barrel and putting it away.

In 96 Bill Clinton sold off some of the SPR to pay down debt.

[truedelphi]

3. Well if I was evil or incompetent and surrounded by my good ol boy oil buddies

I'd be doing this too.

Good for the Senate to take this Lame Duck on.

[defendandprotect]

4. Ed Schultz did an interesting interview with Byron Dorgan this afternoon...

Clearly this is not about anything legitimate creating these outrageous oil prices ---
Clearly this is "speculation" and greed ---
We need a windfall profits tax on the oil industry ---

And we need to nationalize our oil resources ---

And I've been looking at the hybrid cars . . . pretty ugly and hard to understand when the electric cars were so beautiful --
See: "Who Killed The Electric Car?"

[AndyTiedye]

7. The 2004 and later Prius Has a Sort of Alien Spacecraft Styling that Appeals to Me

[defendandprotect]

9. Actually . . .

I haven't really seen it in the sense of walking around it or sitting inside of it ---
but I was behind one the other day and from my seat all I could see from the back were
weirdly tilted windows --- oddly angled --- and from there only the very tops of the headrests!

Seemingly, the equipment needed to make a dual system is taking up a lot of room!!!

Meanwhile, I hope lots of people buy them --- and I hope it somewhat helps the environment!

On the other hand --- did you see how beautiful the electric cars were --- !!! ???

[AndyTiedye]

10. And Still Are. Is This One Beautiful Enough for You?

http://www.teslamotors.com

[defendandprotect]

11. Guess so . . .

I'm not much for sports cars --- or incorporating "sports car" looks into cars ---

Give me a nice plain sedan ---

Loved the look of the cars in the "Who Killed The Electric Car?" movie ---

and totally quiet and clean ---

[Bigmack]

5. Holy Shit! He's filling the reserves...

"fuller than ever before" in case of an "oil shock"?

What kind of oil shock is he planning??

Hitting Iran, perhaps?

Shiiiiit !

[MichiganVote]

6. $3.99 a gallon today. I have my oil shock thank you very much.

[Arctic Dave]

8. The SOR is the equivalent of buying milk from

a dairy farmer in one state and dumping it on the ground in another. Why not just keep it in the ground were it is already. Oh thats right so they can bill the US for inflated oil prices created by an inflated price for demand and make more money.

But what do I know, I only work in North Americas largest oilfield.
http://en.wikipedia.org/wiki/Prudhoe_Bay_oil_field