Bush to release oil from reserves

[movie_girl99]

White House to tap reserves
Energy Secretary Bodman says U.S. will lend oil to refiners hurt by Hurricane Katrina.
August 31, 2005: 7:34 AM EDT

NEW YORK (CNN/Money) - Department of Energy Secretary Samuel Bodman said in a televised interview Wednesday that the White House plans on tapping the nation's Strategic Petroleum Reserve to help refiners hurt by Hurricane Katrina.


http://money.cnn.com/2005/08/31/news/spr/index.htm?cnn=yes

[rodeodance]

1. they send their condolences--it is a catastrophe, on cnn right on.

[liberal N proud]

2. The problem is there still is a refinery shortage

With the New Orleans refineries down the US is looking at a gasoline shortage of 9% or greater than current consumption levels.

[The Backlash Cometh]

5. Not to mention that the gasoline stations are 20 feet under water.

I'm just saying...

[ohio_liberal]

6. Yeah exactly

This isn't going to help gas prices.

[etherealtruth]

12. That's my understanding of the situation at hand ...

...release all the crude you want ... if there aren't the facilities to refine it, what actual good does it do?

(The larger problem is that oil is a finite resource, that is being rapidly depleted ... think China and India, as well as traditionally high US use)

[fasttense]

3. You can bet the oil companies are going to make a ton of money off this.

[murielm99]

4. * helps the refiners, but screws the citizens in Katrina's path.

He lets them drown.

[LTR]

7. So, how are they going to refine all of this oil?

:shrug:

[ohio_liberal]

8. Pat Robertson will lay hands on it

:shrug:

[ClintonTyree]

9. But they won't even consider price caps......

in fuel oil, natural gas and gasoline. :eyes: That's the "free market" for you. You're allowed to gouge everyone you can. Yet people complain about looters in New Orleans. Corporate looters are ENCOURAGED. Fuck this, eat the rich.

[DemocratSinceBirth]

10. How Can We Put Price Caps On Fuels We Don't Produce?

Over seventy percent of the oil we use comes from outside the United States.

[newswolf56]

11. CNN anchor just badgered Bodman into admitting...

there will be NO price controls. Hence nothing to limit the profits the oligarchy makes from runaway fuel prices, or the ever-worsening hardships those prices inflict on the rest of us. Bottom line, Bush just gave the finger to working Americans -- again.