OPEC to U.S. - Use Emergency Oil Reserves

[Tab]

AKARTA (Reuters) - OPEC took the unprecedented step of urging the United States to tap its emergency crude reserves to bring down world oil prices.

Purnomo Yusgiantoro, the president of the Organization of the Petroleum Exporting Countries, said on Wednesday he had approached Washington to suggest the move to force prices down from $55 a barrel.
http://story.news.yahoo.com/news?tmpl=story&u=/nm/20041027/bs_nm/energy_opec_usa_dc

[Parche]

1. oil

That is not going to help if you dont have the refineries to process it

[aquart]

2. Suddenly we have no refineries?

What happened to Texas?

[phantom power]

3. this must be some new defintion of the word "emergency"

Those reserves are for war, or a major supply disruption from natural disaster.

Suppose we use the reserve. What then? Now, we'll have high prices *and* no reserve. Has everybody gone mad?

[BRLIB]

4. I thought we were at war. We have a wartime president, after all!

And if we can raid the treasury why can't we raid the oil reserves?

[Moderator]

5. Duplicate topic--Please continue discussion here:

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x935667