McCain calls for halt of U.S. SPR oil purchases

Discussion in '2008 Archive' started by carpro, Apr 11, 2008.

  1. carpro

    carpro
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    http://www.reuters.com/article/poli...Type=RSS&feedName=politicsNews&rpc=22&sp=true

    McCain calls for halt of U.S. SPR oil purchases
    Thu Apr 10, 2008 By Chris Baltimore

    WASHINGTON (Reuters) - Republican U.S. presidential candidate John McCain on Thursday broke with President George W. Bush and called for the government to stop filling its strategic oil stockpile, with crude oil at a near-record at around $110 a barrel.

    McCain, a U.S. senator from Arizona, joined his two Democratic challengers -- Sen. Hillary Clinton of New York and Sen. Barack Obama of Illinois -- in calling on the Bush administration to stop filling the reserve.
     
  2. carpro

    carpro
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    Playing politics with the SPR is expected of democrats when oil prices rise.

    Republicans usually realize the reserve is to be used for supply interruptions, not price manipulation for voter appeal, like democrats.

    MCCain is an idiot. :BangHead:
     
  3. KenH

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    Good for Senator McCain. Continuing to add to the SPR when oil is $110 per barrel is foolishness. It minimally increases the price of oil at a time when the American people are paying through the nose at the gasoline pump.
     
  4. carpro

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    So you want to bring down the price of gasoline by 1-3 cents per gallon.

    Whoopee!!

    Save the world from high fuel prices! Yeah, man. Go!

    Sacrifice our strategic reserve on the alter of public appeal!!

    Idiotic.
     
  5. StefanM

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    I don't usually agree with carpro, but he's right about this one.
     
  6. KenH

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    1. We should not drawn down the SPR. Neither should we be adding to it at this time with oil at $110 per barrel.

    2. It is foolish to be using taxpayers' money to purchase oil at $110 per barrel. It would be prudent to wait for the price to drop back down to at least $80 before purchasing any more oil for the SPR.

    3. We have enough oil in the SPR already anyway. This additional filling smacks of George W. Bush helping out his buddies in the oil industry. That may not be the case but the appearances are bad.
     
  7. Revmitchell

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    Who receives more form the currentoil prices, oil companies or the government?
     
  8. KenH

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    Oil companies. Oil that costs $20 to pull out of the ground they are receiving $110 for. That's $90 per barrel .
     
  9. Revmitchell

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    Incorrext. try again
     
  10. KenH

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    You think that the government gets more than $90 out of each barrel of oil produced in this country?
     
  11. Revmitchell

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    No you are wrong about the overhead of processing oil. Try again.
     
  12. billwald

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    Why should oil drop below $80? Why should demand drop?
     
  13. hillclimber1

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    The point in this isn't what the oil producers earn, it is that the cost to the refineries is fixed in the global market, by the forces of supply and demand.
     
  14. carpro

    carpro
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    So we should stop reserving oil in case of gross interruption of the supply because why? It's too expensive? It's going to get cheaper?

    Golly, I guess you're right.:rolleyes:

    We have enough you say/ Enough for what? It wouldn't last but just a few days if foreign supply was interrupted.

    I know. I know. It's all George's fault that we've been doing this for years, intending to make him president so he could make his oil "buddies" rich.;)

    What your comments really smack of is just more blame Bush for everything over- reaction.

    I wonder if GW will become as rich as the Clintons when he gets out of office. Er.... oh yeah, right....

    if he gets out of office. I hear he's planning a coup.:laugh:

    To keep enriching his oil buddies, of course. Whoever they are.:confused:
     

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