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  • nostracumass nostracumass Apr 4, 2012 9:32 PM Flag

    SPR release needed by May 1 to prevent gas shortages

    GFYS so sick of your mindless babble

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    • It would seem that barring the speculators from the trading floors for the summer would be a much more effective gov't action. Despite the dramatic language in this article, nobody with half a brain sees any shortage of oil in the marketplace. In the USA -- where we have public statistics -- the data shows massive imports, massive domestic production, massive inventories and reduced consumption. None of that is debatable or disputable.

      Only in the twisted world of oil would an SPR release even be contemplated. It's all rather pathetic. The stupidity is boundless.

      • 1 Reply to iahphx
      • I generally oppose a SPR release - this nation would be much better served by a short period of $5 gasoline on the East Coast (economy car sales are still only 23% of total sales).

        The risk is one of logistics. Far fewer East Coast refining capacity, and several Caribbean refineries are down.

        The pipelines from the Gulf Coast to the East Coast do not have enough capacity to make up the difference.

        Jones Act requires US flag tankers to carry gasoline from New Orleans & Houston to the East Coast. There are barely enough to do the job, if we start very soon.

        Unlike Reuters, I suspect that US imports of gasoline from Europe will save the day - baring a major hurricane hitting the Energy Coast.

        The price of gas will have to go up to attract these imports, but that will promote sales of Prius and Fits :-)

        PS: I should have posted "Reuters: SPR ..."

        I do not "buy" the article I linked.