Why don't all Americans demand the government sell the 3-7 years of oil reserves WE currently hold at 40% off.

Question

I find the answers so far interesting but, not very inciteful. America has the technology right now to be able to get off oil as a fuel so the "strategic reserve" argument is null. A phase out of 3 to 7 years would push the technology even further and put us in a much stronger international position. Not to mention keeping American dollars in America and away from the anti-American governments that are using petro-money to fund terrorism. Pricing of the strategic reserve is not restricted and could be whatever WE want it to be. C'mon people, think for yourself. And to those detractors that automatically assume that I drive an SUV, I ride a motorcycle. And, this question is not in the way of a complaint, it's to get you thinking not just regurgitating the claptrap you've believed for years. President Kennedy had a vision in 1961 that we could be on the moon before the end of the decade. At the time, no one believed it. We did it anyway. People believed in it and it happened.

Answer 1

By law, the US is to be offered its own oil reserves first, but the law  does not stipulate the price it is to be sold at.

The US has PLENTY of oil believe me, and it has no intention of "giving it away".

Oil companies don't set crude-oil prices; the global market does. Basically, the market decides what people are willing to pay at a certain moment in time. And a lot of that has to do with the fact that the world is getting richer. Countries like India and China are growing, and that has created more demand for oil and gas. In the United States, we're still going full throttle when it comes to energy use. At the same time, there have been supply disruptions and political instability in major oil-producing nations. So you have a situation where demand has been growing steadily and inexorably, and the system of supply is quite vulnerable. That's the basic recipe for high prices.

Answer 2

because why tap our emergency reserves to temporarily resolve the issue when we can drill for longer term soloutions? Ironically the same people ( like Nancy Pelosi) who claim our oil prices are not due to supply and demand, use the arguement you just used to prove that oil prices truely are subject to the laws of supply and demand.

On June 26, the House passed the

Energy Markets Emergency Act (H.R. 6377)

"to eliminate excessive speculation, price distortion, sudden or unreasonable fluctuations, or unwarranted changes in the price of energy commodities or other unlawful activity causing major market disturbances that prevent the market from accurately reflecting the forces of supply and demand for energy commodities."

http://www.speaker.gov/issues?id=0031#op...

Thu Jun 12, 2008 3:57pm EDT

House Speaker Nancy Pelosi

"We cannot drill our way out of this,"

http://www.reuters.com/article/politicsN...

If Nancy Pelosi felt the Energy Markets Emergency Act the forces of supply and demand  and drilling would only reduce gas prices "1 penny per gallon" and felt we could not "drill our way out of this" suggesting again increasing supply will not reflect at the pump then her demand to tap the oil reserve "to assist consumers and strengthen the economy,"  is not consistant with those views.

Wed Jul 9, 5:43 PM ET

House Speaker Nancy Pelosi

"The threats to the economy and national security from high oil prices "are the kind of circumstances ... in which utilization of the Strategic Petroleum Reserve is more than justified," Pelosi wrote in the letter sent late Tuesday."

http://news.yahoo.com/s/ap/20080709/ap_o...

Basically, why demand we use what reserves we have in a non emergency situation if we can drill?

Why put up with Senators who waste tax dollars trying to hold OPEC, an organization outside US jurisdiction accountable in US courts, and how would the US enforce violations we dont have the right to enforce to begin with? Are we going to invade Iran, because OPEC violated US antitrust law passed on US soil to cover soverign Iranian soil?

Gas Price Relief for Consumers Act, Holding OPEC and Oil Companies Accountable for Price Fixing (HR 6074)

Why put up with politicians who think they can reinstate windfall profit taxes "punishing" American oil companies, who would be one means or another pass that tax on to you at the pump?

Why not just advocate drilling and alternative power? My view is if we as Americans are not willing to drill the oil we have here on US soil, be it for enviromental ecological or other excuses because we disturb our landscape, then how can we as Americans demand that other countries not only despite those same ecological, enviromental excuses drill more oil to sell to us but at what low price they must sell it to us messing up their landscape instead of ours? But if you advocate drilling here, demand it stays here and does not get exported!

Answer 3

uh, dude, we don't have 3-7 years in our Strategic reserves, it's more like about 90 days worth.

Answer 4

Because most Americans are intelligent enough to realize that that oil is a STRATEGIC reserve-to be sued in the event of a national emergency--not because some nitwits are whine because they are having to feed an SUV they should have had better sense to buy in the first place.  

I find it hilarious--the cons run around yapping about social programs and such--and the first time something happens that hits THEM in the wallet--they start whining for a government handout!

ROTFLMAO

Answer 5

even if the reserves ran dry it's still a good idea, but you know what we found out since the 70s...more oil percolates back to the surface and our domestic reserves refill themselves...

Answer 6

That oil is saved for emergencies, like a world war, when the U.S. is cut off from our sources. It would be a monumental folly to use it.

Answer 7

Because the strategic oil reserves are meant to be used for strategic emergencies. Like for when we really do decide to actually invade a country to actually take the oil.

Answer 8

All our domestic oil, in the ground or otherwise, should be recognized for the national strategic asset that it is, and conserved accordingly.