Should the Government Tap Into Oil Reserves to Manage Gas Prices?

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@ JT of KS (Crazy Christian from Kansas) "First there is enough oil to last 80 to 100 years...etc."
Wrong
At our current consumption rate of about 20 million barrels a day, the Strategic Petroleum Reserve would last only 36 days if we were faced with a situation where the oil had to be released all at once (however, only 4.4 million barrels a day can be withdrawn, extending our supply to 165 days).
"Scientest say in a tousand years no one will be here period so we have enough oil in our reserves to mlast until the end of time."
Even though it is likely the human race won't last a thousand years or worst get thrown back to the dark ages with most of the population annihilated, we do not have enough oil in reserves to last a single year let alone 1000.
Which Scientists say in a thousand years no one will be here?

Bob of CA 4:12PM May 29, 2012

First there is enough oil to last 80 to 100 years no one will even be here in other words if we tappped into our oil reserves and turned it into gasoline we would only be paying about 1.50 a gallon and we would not have to rely on overseas.Tap into the reserves not only tap just keep turning it into gasoline.Scientest say in a tousand years no one will be here period so we have enough oil in our reserves to mlast until the end of time.

JT of KS 10:05AM January 17, 2012

Hey ugly your mom

Your mom of AL 11:49AM March 18, 2011

I vote no becuase according to data that is widely available, there is NO WORLDWIDE OIL SHORTAGE! You can't blame it on Libya because their slice of worldwide production is too small, we only receive something like 2% from there. What's causing this increase? Rampant speculation brought to you by the very same people who wrecked the economy 4 years ago. Oil contracts have gone through the roof over the last 6 months, and by parties who don't even have to take delivery. Basically, energy traders gaming the system and essentially creating this market dynamic.
If the government wanted to do something useful in the sort term, they should create a law whereby oil contracts can only be taken out by parties who will take delivery of the commodity. That would drive out speculators looking for a quick score, and free us from these quick spikes that we see every time the Middle East catches a cold.

Michael of OR 10:37AM March 08, 2011

I have read about algae, hydrogen from windmills,etc.
Spain tried going alternative energy and cost them dearly. Private sector is doing their job in development. When it becomes viable with oil, without subsidy or inflated oil price, then & only then will alternative energy flourish. Using just kernel of corn for ethanol fuel raises fuel cost as well as food. When whole corn plant or can be used with weeds, then you will have something.
Is not viable with our normal oil price. This crisis price, probable, but won't last. A $$$ billionaire was going to develop large windmill farms. Stopped, when prices lowered.
barry is doing his best to get oil price high...

Bill Hedges of MO 7:12PM March 07, 2011

The government should not tap into the SPR, especially now. The SPR is for emergencies, not lowering oil prices. There is a threat of Saudi Arabia falling into protest and civil war and if that happens, that when we will NEED that oil. The best way to lower oil prices is to alow drilling and stop making drilling permits so difficult to obtain. We also need to reign in the speculators by decreasing the amount of contracts institutional investors can hold or by making those holding the contracts actually take delivery of the product. We also have to stop with the cheap money policies that allow for all this money to be poured into commodities. There are too many fake dollars chasing too many paper oil contracts. That is the root of our problem

John E DURANT of NJ 5:19PM March 07, 2011

If for every 1 Gal of Gasoline there were a $1 tax and it was used to give a $1 Tax Refund on every Gal of Gasoline or Diesel produced from ALGAE we could very rapidly scale up a permanently sustainable biological fuel supply! AND YES IT IS COST COMPETITIVE WITH FOSSIL OIL. What is needed is a jump start on the building of this sustainable energy infrastructure. It can happen quickly since it is AGRICULTURAL!

ALGAE MAN of KY 3:06PM March 07, 2011

Flimsy band-aid at best.
30 years ago we needed to expand oil drilling both on and offshore. We needed to build more hydroelectric dams and nuclear plants. A decade ago we should have pursued clean coal and natural gas.
The EPA (Energy Prohibition Agency) and eviros stood in the way of every attempt at energy independence - and every human endeavor not aimed at nature worship .
Now, we are prostrated before Islamic masters who hate us - led by a president blinded by Environmentalist Theology and his own ego.
In pursuit of our dogmatic, "Green Dreams", we're bulldozing tens of thousands of acres, and spending billions of dollars we don't have, so we can erect foreign made windmills and solar panels which won't provide the energy of one nuclear facility. Nor will the energy be constant or able to be stored - necessitating redundant transmission systems.
Other than crippling our nation, this folly has accomplished absolutely nothing.

R.L. Schaefer of CA 2:04PM March 07, 2011