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2004-05-17 Home Front: Tech

U.S. Still Filling Emergency Oil Reserve

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Posted by Steve 2004-05-17 11:32:59 AM|| || Front Page|| [3 views since 2007-05-07] Top

#1 Bwahaahaha

Posted by Frank G 2004-05-17 11:43:53 AM|| 2004-05-17 11:43:53 AM|| Front Page Top

#2 Gee... I wonder why we're topping off the petroleum reserves? Is something up, I wonder? Are we thinking the Saudi oil ticks will be getting upset with us someday soon? If so, why?

Keep pumping.

Posted by Dave D. 2004-05-17 12:05:45 PM|| 2004-05-17 12:05:45 PM|| Front Page Top

#3 The White House knows there a very strong possibility of disruptions of crude oil from the Persian Gulf, Nigeria, Indonesia, Venezuela and other locations around the globe, and therefore must build stock of crude just in case. With each terrorist attack fear continues to mount in the energy trading pits. We can not rule out $4.00 a gallon gasoline over the summer contingent on developments effecting petroleum price treading.

The leadership of al-Qa'ida and OPEC member Iran is also aware that over the short term jacking up the price of crude earns them huge profits to engaged in broad-based on slots against the West.

The breaking news of the failed terrorist usage of sarin nerve gas is also ruffling global financial markets. It's difficult to plan for the long term corporate bottom line when energy costs keep rising to record breaking levels with no real end in sight. The rolling wave of petrol fuelled inflation is also a major concern on Wall Street, as it should have been months ago. Issuing realistic prognostications relating to the oil/inflation ratio does not make for bullish stock investors.

Because of the tension effecting energy outlooks, we could expect a summer with rolling brownouts in some urban areas and the situation will be made worse the coming summer's temps are scorching hot and supplies of energy are 'reported' to be in running low.

Obviously if restrictive EPA regulations allowed for exploration and drilling within the United States we would not be in this mess. It a sad state of affairs when an energy nation such as America needs to import one drop of oil.

Posted by Mark Espinola 2004-05-17 12:07:25 PM|| [http://www.freerepublic.com/focus/f-news/1133085/posts] 2004-05-17 12:07:25 PM|| Front Page Top

#4 I'm hoping they are setting up a bull trap.

Posted by Shipman 2004-05-17 12:20:01 PM|| 2004-05-17 12:20:01 PM|| Front Page Top

#5 If it got right down to it how much oil does the USA have? Off the coast of California I understand there are large pools. Gulf of Mexico I hear is also a huge oil surplus.
Can anyone answer the question of how many years the USA could be on her own without importing another drop if we were to go after all of the pools of oil within the USA?

Posted by Long Hair Republican 2004-05-17 11:13:34 PM|| 2004-05-17 11:13:34 PM|| Front Page Top

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