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Author	Topic: Should we tap the Strategic Petroleum Reserve to lower gas prices?	Post a Reply Back to Topics

PD Moderator	Message Posted: Feb 28, 2012 1:14:31 PM Ignore PD Report Abuse The U.S. average price of gasoline, approaching $3.70 per gallon, has increased 30 cents per gallon in the past 30 days. The highest prices in the country, after Hawaii ($4.39), are found in California where the state's average price is $4.30 per gallon and Santa Barbara records the highest average price in the state at $4.43 per gallon. And, regretfully, the ides of March still remain ahead of us. but the short-term future is looking a lot like 2008, when we hit record prices as the U.S. average price peaked at $4.12 per gallon on July 15, 2008 and NYMEX crude oil peaked at $147 per barrel. Speculation on crude oil was driven then by the weak dollar and candidates running for president all said they had the answers to bring... Visit GasBuddy Blog for full article

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Message Posted: Feb 28, 2012 1:14:31 PM

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The U.S. average price of gasoline, approaching $3.70 per gallon, has increased 30 cents per gallon in the past 30 days. The highest prices in the country, after Hawaii ($4.39), are found in California where the state's average price is $4.30 per gallon and Santa Barbara records the highest average price in the state at $4.43 per gallon.

And, regretfully, the ides of March still remain ahead of us. but the short-term future is looking a lot like 2008, when we hit record prices as the U.S. average price peaked at $4.12 per gallon on July 15, 2008 and NYMEX crude oil peaked at $147 per barrel. Speculation on crude oil was driven then by the weak dollar and candidates running for president all said they had the answers to bring...

Visit GasBuddy Blog for full article

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gasokie Champion Author Oklahoma Posts:3,442 Points:1,323,805 Joined:May 2007	Message Posted: Mar 19, 2012 6:05:36 PM Ignore gasokie Report Abuse It wasn't put in to stabalize prices at election time. It is a "Strategic" reserve. Why is the president having this discussion?
VomVom Champion Author Calgary Posts:3,857 Points:1,627,080 Joined:May 2007	Message Posted: Mar 19, 2012 3:16:34 PM Ignore VomVom Report Abuse Regulate the speculators would have a much better and bigger impact that releasing oil from the SPR.
Edpap Champion Author Pennsylvania Posts:4,317 Points:504,975 Joined:Oct 2011	Message Posted: Mar 18, 2012 12:55:06 PM Ignore Edpap Report Abuse Forget the reserve....eliminate the monopolies. Sell less and make more money????only in Obama's version of America.
LogtruckerWA Rookie Author Tacoma Posts:10 Points:300 Joined:Mar 2012	Message Posted: Mar 16, 2012 4:33:58 PM Ignore LogtruckerWA Report Abuse what is really screwing the country over is the price of diesel it is a bi product of gas y is it so much more expencive it rises the prices of everything becuse we can not haul stuff with out rasing the price to cover our diesel our country is hurting and our government needs to all be fired and get some people in that acctuly care about avrage joe not just there hi to do life stile
tree_shakker Veteran Author Ontario Posts:427 Points:187,480 Joined:May 2011	Message Posted: Mar 15, 2012 11:33:12 PM Ignore tree_shakker Report Abuse Bring it on!
gawxnative All-Star Author Atlanta Posts:510 Points:229,865 Joined:Aug 2006	Message Posted: Mar 14, 2012 6:13:00 PM Ignore gawxnative Report Abuse Nope, will only ead to speculators jumping in even more
Edpap Champion Author Pennsylvania Posts:4,317 Points:504,975 Joined:Oct 2011	Message Posted: Mar 12, 2012 2:16:19 PM Ignore Edpap Report Abuse Get serious!!...if you think more USA supply will lower the price raise your hand....now those that think more supply will lead to more exports...raise your hands.
firefight66 Champion Author Tampa Posts:1,913 Points:496,090 Joined:Oct 2011	Message Posted: Mar 12, 2012 1:08:28 PM Ignore firefight66 Report Abuse No. The reserve is for a major problem, like no gas. Not that any wants to pay more for gas but as long as it is available we should be willing to adjust our driving habits.
PuddinPal Champion Author California Posts:3,416 Points:669,415 Joined:Dec 2008	Message Posted: Mar 11, 2012 11:34:00 AM Ignore PuddinPal Report Abuse No, we should go and get the oil that we already have in the ground. This would be a permanent solution to the problem rather than a band-aid. This would also generate more taxes to help the governments run their budgets.
Edpap Champion Author Pennsylvania Posts:4,317 Points:504,975 Joined:Oct 2011	Message Posted: Mar 9, 2012 11:23:45 AM Ignore Edpap Report Abuse No way !! It would cost twice as much to replace it, and no one is going to cut us a break at the pump until Obama is out of DC. Nobama, any of the above in 2012
1006 Champion Author Birmingham Posts:1,105 Points:1,353,440 Joined:Apr 2008	Message Posted: Mar 3, 2012 9:24:34 AM Ignore 1006 Report Abuse are we hoardong
Rappcommuter Veteran Author Virginia Posts:470 Points:553,515 Joined:Apr 2011	Message Posted: Mar 2, 2012 1:12:27 PM Ignore Rappcommuter Report Abuse I don't believe that releasing oil from the SPR will help. It could actually hurt in the long term. The price is mainly driven by speculators, and once the government releases the oil, we are back to the same world situation, but now we have less oil in the SPR. Speculators could get nervous that there isn't as much of a reserve in case of a crisis like Iran cutting off the strait, and could bid up prices even higher.
FPLREP Champion Author Virginia Posts:8,251 Points:2,446,300 Joined:Oct 2005	Message Posted: Feb 29, 2012 2:11:20 PM Ignore FPLREP Report Abuse Releasing this oil will do nothing to lower prices. The speculators(the problem) know that it is temporary and will not react to it's release.
NOTSOGRN Champion Author Michigan Posts:2,056 Points:1,510,390 Joined:Dec 2007	Message Posted: Feb 29, 2012 12:38:12 PM Ignore NOTSOGRN Report Abuse . . Democrats Want to Use US Oil Stockpile to Relieve High Prices; It Won’t Work! . "The US should remain patient. The odds are high that oil prices will continue to rise as the situation in Iran roles on, and the possibility of a loss of supply to global markets from a conflict in the region is not far-fetched. The SPR must be used as a last resort to ensure the continued survival of US industries reliant on oil, not just to help relieve the pressure on wallets created by high prices in the short term." . http://oilprice.com/Latest-Energy-News/World-News/Democrats-Want-to-Use-US-Oil-Stockpile-to-Relieve-High-Prices-It-Wont-Work.html . Insert link not working. [Edited by: NOTSOGRN at 2/29/2012 12:39:52 PM EST]
blupupher Champion Author Houston Posts:3,540 Points:746,095 Joined:Feb 2011	Message Posted: Feb 29, 2012 12:05:35 PM Ignore blupupher Report Abuse No. It did nothing last time except loose money that the govt spend on filling it. We have no shortage.
db60 All-Star Author Indiana Posts:982 Points:211,255 Joined:Oct 2011	Message Posted: Feb 29, 2012 10:44:08 AM Ignore db60 Report Abuse Maybe. Maybe not.
zeusboy Rookie Author Atlanta Posts:47 Points:156,415 Joined:Feb 2005	Message Posted: Feb 29, 2012 10:10:00 AM Ignore zeusboy Report Abuse Did it help when they did this before? No.
Cakes77 Champion Author Harrisburg Posts:5,151 Points:1,650,695 Joined:Aug 2006	Message Posted: Feb 29, 2012 9:32:12 AM Ignore Cakes77 Report Abuse No.
ClarkSC Champion Author South Carolina Posts:3,073 Points:1,010,430 Joined:May 2010	Message Posted: Feb 29, 2012 7:08:42 AM Ignore ClarkSC Report Abuse Waste of time.
pscamp Champion Author Ottawa Posts:3,263 Points:473,085 Joined:May 2011	Message Posted: Feb 29, 2012 6:10:07 AM Ignore pscamp Report Abuse What is an emergency? Wall street speculation caused high prices???
tnfran Champion Author Arizona Posts:4,373 Points:841,215 Joined:Dec 2010	Message Posted: Feb 29, 2012 2:22:53 AM Ignore tnfran Report Abuse No, No, No . The high price of gas/diesel is not a reason to tap the reserves at this time. They are there for "Emergencies".
NOTSOGRN Champion Author Michigan Posts:2,056 Points:1,510,390 Joined:Dec 2007	Message Posted: Feb 29, 2012 1:43:02 AM Ignore NOTSOGRN Report Abuse . . "Democrats Want to Use US Oil Stockpile to Relieve High Prices; It Won’t Work!" "The US should remain patient. The odds are high that oil prices will continue to rise as the situation in Iran roles on, and the possibility of a loss of supply to global markets from a conflict in the region is not far-fetched. The SPR must be used as a last resort to ensure the continued survival of US industries reliant on oil, not just to help relieve the pressure on wallets created by high prices in the short term." . Democrats Want to Use US Oil Stockpile to Relieve High Prices; It Won’t Work! http://oilprice.com/Latest-Energy-News/World-News/Democrats-Want-to-Use-US-Oil-Stockpile-to-Relieve-High-Prices-It-Wont-Work.html . [Edited by: NOTSOGRN at 2/29/2012 1:47:57 AM EST]
Dodge_Me Champion Author Atlanta Posts:2,214 Points:554,730 Joined:Mar 2006	Message Posted: Feb 29, 2012 12:35:30 AM Ignore Dodge_Me Report Abuse temporary relief is not good enough
Dodge_Me Champion Author Atlanta Posts:2,214 Points:554,730 Joined:Mar 2006	Message Posted: Feb 29, 2012 12:34:30 AM Ignore Dodge_Me Report Abuse no reserve
big_mac64 Champion Author Tennessee Posts:10,593 Points:1,485,690 Joined:May 2005	Message Posted: Feb 29, 2012 12:12:23 AM Ignore big_mac64 Report Abuse Stategic Reserve is higher today (more oil) than it was in 2008. Releasing some now won't hurt it a bit...but it won't help gas prices if refining isn't up to par. Gov't has allowed Big Oil to have record profits with no new refineries built for too long. Gov't can and should step on their toes and force new refineries!
regout Champion Author Quebec Posts:2,950 Points:831,730 Joined:May 2010	Message Posted: Feb 29, 2012 12:08:41 AM Ignore regout Report Abuse Won't change anything.
billk44077 Champion Author Cleveland Posts:3,167 Points:629,605 Joined:Aug 2011	Message Posted: Feb 29, 2012 12:08:01 AM Ignore billk44077 Report Abuse No we should STOP THE SPECULATORS.
purplebears Champion Author Milwaukee Posts:9,040 Points:1,161,800 Joined:May 2009	Message Posted: Feb 29, 2012 12:06:45 AM Ignore purplebears Report Abuse No, but with one exception... All NASCAR races must be fully fueled, including enough for each winning driver to spin donuts and burn rubber until everyone in the grandstand pukes.
southrob Champion Author Tucson Posts:3,590 Points:686,225 Joined:Mar 2011	Message Posted: Feb 29, 2012 12:05:25 AM Ignore southrob Report Abuse why not maybe we would drill more to replenish
herndonks Champion Author Baltimore Posts:1,116 Points:211,685 Joined:Dec 2011	Message Posted: Feb 29, 2012 12:02:46 AM Ignore herndonks Report Abuse No
Alaydown Champion Author Los Angeles Posts:5,106 Points:821,445 Joined:May 2007	Message Posted: Feb 29, 2012 12:02:35 AM Ignore Alaydown Report Abuse The SPR is not there to increase poll numbers. It has never reduced prices.
ShutRBug Champion Author Ontario Posts:1,524 Points:653,365 Joined:Jun 2005	Message Posted: Feb 29, 2012 12:01:25 AM Ignore ShutRBug Report Abuse Big mistake
dmgas1 Sophomore Author Philadelphia Posts:122 Points:83,965 Joined:May 2011	Message Posted: Feb 29, 2012 12:00:00 AM Ignore dmgas1 Report Abuse no
aggietim Champion Author Fort Worth Posts:1,756 Points:692,875 Joined:Oct 2008	Message Posted: Feb 28, 2012 11:59:59 PM Ignore aggietim Report Abuse NO
ghmortensen Champion Author Minnesota Posts:1,989 Points:1,667,805 Joined:Jan 2007	Message Posted: Feb 28, 2012 11:59:03 PM Ignore ghmortensen Report Abuse NO!
vollee Champion Author Cincinnati Posts:1,762 Points:758,025 Joined:Dec 2007	Message Posted: Feb 28, 2012 11:58:31 PM Ignore vollee Report Abuse SPR is for National Emergencies - such as embargos or supply disruptions overseas. Price ain't it! And if it is used, you can count on our gov'mint selling low and replacing SPR at high prices. Leave it ALONE! And I'm talking to you O'Bummer!
Blue48 Champion Author Illinois Posts:7,300 Points:1,636,970 Joined:Feb 2007	Message Posted: Feb 28, 2012 11:56:13 PM Ignore Blue48 Report Abuse IT PROBABLY WON'T HAPPEN!
kuma2000 Champion Author Honolulu Posts:3,213 Points:672,200 Joined:Jun 2011	Message Posted: Feb 28, 2012 11:53:41 PM Ignore kuma2000 Report Abuse won't make a dent.
jessek Champion Author Detroit Posts:2,657 Points:1,280,490 Joined:Sep 2008	Message Posted: Feb 28, 2012 11:53:29 PM Ignore jessek Report Abuse No...it won't work.
BooHooMI Champion Author Michigan Posts:1,556 Points:344,610 Joined:Sep 2010	Message Posted: Feb 28, 2012 11:53:26 PM Ignore BooHooMI Report Abuse no
rxman1 Champion Author Toledo Posts:9,534 Points:1,859,945 Joined:Nov 2007	Message Posted: Feb 28, 2012 11:50:42 PM Ignore rxman1 Report Abuse NO
stopforgas All-Star Author Mississippi Posts:991 Points:479,880 Joined:Jun 2011	Message Posted: Feb 28, 2012 11:48:46 PM Ignore stopforgas Report Abuse nope
mstearno Champion Author Dayton Posts:8,061 Points:1,730,260 Joined:Jan 2008	Message Posted: Feb 28, 2012 11:46:05 PM Ignore mstearno Report Abuse no that simple NO
jamaicarose2 Rookie Author Riverside Posts:19 Points:320,440 Joined:Jun 2008	Message Posted: Feb 28, 2012 11:44:52 PM Ignore jamaicarose2 Report Abuse The Strategic Oil Reserve is not a political football, to help bolster the poll numbers of the president before an election. It is for EMERGENCY use. High prices are not an emergency.
vtroger Veteran Author Vermont Posts:284 Points:559,720 Joined:Mar 2011	Message Posted: Feb 28, 2012 11:43:51 PM Ignore vtroger Report Abuse Mixed feelings. Those reserves are there for emergencies. We should be able to find alternative ways to decrease fuel prices.
RAKARWOWSKI Champion Author Chicago Posts:3,990 Points:819,075 Joined:Jan 2011	Message Posted: Feb 28, 2012 11:43:11 PM Ignore RAKARWOWSKI Report Abuse Wrong, wrong, wrong, get it?
FastAndy Champion Author Indianapolis Posts:4,496 Points:1,983,650 Joined:Jun 2007	Message Posted: Feb 28, 2012 11:43:06 PM Ignore FastAndy Report Abuse No, but Obama will tap the SPR if he can use it for his own re-election.
B_550i All-Star Author Seattle Posts:720 Points:192,945 Joined:Aug 2011	Message Posted: Feb 28, 2012 11:42:35 PM Ignore B_550i Report Abuse No
OGW Champion Author London Posts:5,324 Points:1,530,400 Joined:Sep 2005	Message Posted: Feb 28, 2012 11:41:30 PM Ignore OGW Report Abuse Yes they should and as in the past the prices will drop and they can restock the reserve as prices decline.
jindodog Veteran Author Missouri Posts:430 Points:98,075 Joined:Jan 2012	Message Posted: Feb 28, 2012 11:38:26 PM Ignore jindodog Report Abuse No,no, NO! That is not an appropriate use for the SPR. Besides, it's been tried several times before, and failed. Why would it be any different now?