The reserve is just what the name implies. It is set aside to see insure our military and essential services are able to remain mobile in an emergency or an embargo. I do not believe in dipping into the reserve.

We have tons of oil in reserve...

 

What has to happen before we use the reserve? Also, if all of the trucking companies, not the independent drivers, but the major companies went on strike until gas prices met there demand at say $2.00 a gallon, would that work or set things in motion at least?

The Strategic Petroleum Reserve (SPR) is required to hold a reserve of 90 days of import protection. Right now it has 58 days worth. In other words, if OPEC shut us out, we'd have 58 days of oil available. Thats 701 million bbls. It takes 13 days from the time the Presidential order is given until the oil would enter the market. The last time oil was drawn from the SPR was 11 million barrels after Katrina. The SPR can also be leased or exchanged in extraordinary circumstances, like in 1996 when ARCO developed a blockage in their pipeline or in 2000 when there was a heating oil shortage. Also only 40% of the SPR is sweet crude, which probably explains the delay in getting the oil to market.

Can you explain how oil companies are making record amounts of profit please?

 

http://www.exxonmobil.com/corporate/files/news_pub_fo_2007.pdf

Just put 50 dollars worth in my Tahoe. That got me 3 quarters of a tank. I don't complain about gas prices because I continue to pay for it. If it gets too expensive, I'll walk. Simple as that.

 

As far as the big bad oil companies making record proffits, good for them. I can't say that I would lower the prices if I were the man behind the desk counting my billions. It's the american way my friends, make as much money as you can, as quickly as you can.

 

As I said in the wal mart thread. A lot of the blame in the gas crisis goes directly on us. We continue to pay the rising gas costs and nothing will change until we refuse to pay. I don't see that happening anytime soon. We've been brain washed to believe that a $2.00 gallon of gas is cheap.

3.69 in Portsmouth today(I was told)

1981 avg. gas price...$1.35 g.

1985 avg. gas price...$1.20 g.

1990 avg. gas price...$1.16 g.

1999 avg.gas price...$1.17 g.

 

 

The new millennium...

 

Gas prices start climbing...

 

2000 avg.gas price...$1.59 g.

2005 avg.gas price...$2.30 g.

4/14/08 avg. gas price...$3.61

 

 

:creepy::creepy::creepy:

 

This is what a large number of people don't understand. It costs money to get oil to gasoline. Yet the OIL buff's are still making boat loads. Mostly because the demand for oil has gone up DRASTICALLY, everyone points at China, which is part of the reason for the firse in cost. However the oil guys are making so much due to the amount of consumption, I would love for someone to show me where there has ever been more US drivers in American than present day. You can't, there for more people using a product, means highers profits, on what really isn't an immensely profitable product without high consumption. Why because suburbs rock and people for the past 20-30 years didn't have a problem driving 15-20 miles to get somewhere. I'd be willing to say more urban areas aren't feeling it nearly as bad as most folks that visit a site like this.

This is what a large number of people don't understand. It costs money to get oil to gasoline. Yet the OIL buff's are still making boat loads. Mostly because the demand for oil has gone up DRASTICALLY, everyone points at China, which is part of the reason for the firse in cost. However the oil guys are making so much due to the amount of consumption, I would love for someone to show me where there has ever been more US drivers in American than present day. You can't, there for more people using a product, means highers profits, on what really isn't an immensely profitable product without high consumption. Why because suburbs rock and people for the past 20-30 years didn't have a problem driving 15-20 miles to get somewhere. I'd be willing to say more urban areas aren't feeling it nearly as bad as most folks that visit a site like this.

 

Spoken like one who has no clue. Just to set a few things straight:

 

It always cost money to turn oil to gas, so that arguement is out the window from the get go.

 

Every decade forever there are more Americans driving than the last decade, never seemed to matter much during the 80's and 90's. Go figure.

 

And, actually, there is plenty of supply. This isn't a supply and demand thing at all.

 

I could go on, but I'll play nice. One more thing, in 2000 the country elected a oil man President. What year did gas prices start rising? My bad, I'm sure this was just a coincidence.

Spoken like one who has no clue. Just to set a few things straight:

 

It always cost money to turn oil to gas, so that arguement is out the window from the get go.

 

Every decade forever there are more Americans driving than the last decade, never seemed to matter much during the 80's and 90's. Go figure.

 

And, actually, there is plenty of supply. This isn't a supply and demand thing at all.

 

I could go on, but I'll play nice. One more thing, in 2000 the country elected a oil man President. What year did gas prices start rising? My bad, I'm sure this was just a coincidence.

 

Ha I didn't know we had experts on here sorry, all I know is politics and economics, sorry my fault.

 

Supply hasn't been increased while demand has, generally oil is not a supply and demand product, however in this case it's playing a small factor, mostly in rescent months. Along with the US economy and the value of the dollar. But hey you seem to know alot about this but havne't provided much support yet so keep it coming.

 

80's and 90's though ummmm yea I was referring to gas companies profits being at rescent highs. Clearly if a product that is profitable is high in demand then the profits will likely be high as well. Not referring directly to the price of oil.

Drove past a gas station in northeastern this morning and gas was $3.39 and now it is $3.61(2:30 pm).

This is out of hand!

 

I'll agree it's out of hand. But, I called it several years ago. In 2006, I predicted gas prices would drop just prior to the mid-term elections, and magically it did in an effort to keep Congress driven by Republicans. When that didn't work out so well, I said expect gas to rise beyond belief. Do you believe this?

 

I'm not knocking you in any way, though I quoted your post. But, this was an easy call. Bush was going to make sure the people who got him elected twice got paid, and apprantely, paid some more. Again, I could go on, but will not. The incredible surge in gas prices has and always was more politically driven than many are "speculating" though.

Ha I didn't know we had experts on here sorry, all I know is politics and economics, sorry my fault. Supply hasn't been increased while demand has, generally oil is not a supply and demand product, however in this case it's playing a small factor, mostly in rescent months. Along with the US economy and the value of the dollar. But hey you seem to know alot about this but havne't provided much support yet so keep it coming.

 

80's and 90's though ummmm yea I was referring to gas companies profits being at rescent highs. Clearly if a product that is profitable is high in demand then the profits will likely be high as well. Not referring directly to the price of oil.

 

I hope you know as much about politics and economics as you think you do. Because, sentence structure and spelling certainly are not at the top of your list. :ylsuper::banana:

 

Would you like to continue to educate me?

Sorry thought this was a thread about gas prices not a spelling bee contest. But heck ya did a good job of posting completely off subject and not giving much more info.

Sorry thought this was a thread about gas prices not a spelling bee contest. But heck ya did a good job of posting completely off subject and not giving much more info.

 

Why would I get into a debate about soaring gas prices or the global economy, with someone who cannot spell recent?

Sorry I don't use spell check and just type freely. I know alot of bio guys that got C's and B's english, guess they aren't worthy of you're time either when it comes to Science.

 

WOW, I'm still waiting for a response to what myself and others have said, and not HOW they've said it, come on we need some expertese here.