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U.S. petroleum reserve is a versatile weapon

Marketplace -- The U.S. created the Strategic Petroleum Reserve after the oil embargo of the 1970s. Blake Clayton at the Council on Foreign Relations says that was the first time America faced its utter dependence on oil and realized, "These kinds of oil shortages can wreak havoc on the national economy." The official goal of the reserve remains to keep oil flowing in case of emergency. "Not just when supply is low, but when that shortage means the national economy could actually be derailed."

But the Strategic Petroleum Reserve has another, unofficial, function. The White House can tease the oil market with its 700 million barrels of sweet and sour crude, just sitting there. That's why you hear officials -- and the president -- constantly referring to the reserve in speeches as being "on the table."



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Submitted Oct 03, 2012 By: BurntOrange
Category: Daily News Article Discussions > Topics Add to favorite topics  
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REPLIES (newest first) Post a Reply
honda0105
Champion Author Tallahassee

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Message Posted: Oct 10, 2012 5:02:18 AM

making it militaristic now?
Wizrd03
Champion Author Illinois

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Message Posted: Oct 4, 2012 7:30:21 AM

The SPR is a tease used by this administration for political purposes, not what it is mant to be
tomok
Champion Author Portland

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Message Posted: Oct 4, 2012 2:31:01 AM

U.S. petroleum reserve is a versatile weapon but the SPR is Not to be used except in a national emergency! The SPR is a reserve of oil to produce fuel for the military and the countries defense.
Whatever the size or shape of the vehicle, Produce and ‘Drive’ vehicles with high MPG, are very safe, reliable, have a ‘reasonable’ cost and a good ‘value’ for the money.
The price of fuel at the pump is too high!
XII/XXII/MMXII!
Alaydown
Champion Author Los Angeles

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Message Posted: Oct 4, 2012 12:57:13 AM

LOL, I won't bother stating that Aviator Rob can't be serious because he probably believes what he posts.
LilRedWagonIN
Champion Author Indiana

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Message Posted: Oct 3, 2012 11:42:04 PM

SPR is being used as a political weapon? a threat?
gsayeg1
Champion Author Milwaukee

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Message Posted: Oct 3, 2012 11:16:57 PM

and when the oil companies pay off our politians not to use it what do we do then
DriverofRed
Champion Author Calgary

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Message Posted: Oct 3, 2012 11:15:13 PM

k
gaspumpin
Champion Author Indiana

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Message Posted: Oct 3, 2012 11:09:32 PM

Aviator Rob-- no other President had to.
rahcat
Champion Author Grand Rapids

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Message Posted: Oct 3, 2012 11:08:33 PM

Reserve means Reserve.
Ashleighnicole2
Rookie Author Sacramento

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Message Posted: Oct 3, 2012 11:05:28 PM

RESERVE shouldnt be short term
Aviator_Rob
Champion Author New York

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Message Posted: Oct 3, 2012 10:58:03 PM

You can't be serious, @Mowerman08.

The President has expanded the SPR more than any other president in recent memory.
greatartiste
Champion Author New Jersey

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Message Posted: Oct 3, 2012 10:56:33 PM

short term is all it's good for
mstearno
Champion Author Dayton

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Message Posted: Oct 3, 2012 10:55:51 PM

using the reserve is stupid
we'll need it when Iran gets attacked and even then prices will soar
but I'd rahter have a non nuclear Iran than a nuclear Iran
clermont40miles
Champion Author Cincinnati

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Message Posted: Oct 3, 2012 10:55:40 PM

SPR - for emergency not political manipulation.
Mowerman08
Champion Author Milwaukee

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Message Posted: Oct 3, 2012 10:52:21 PM

If Obama had his way, there would NOT be a strategic petroleum reserve any more. It would be replaced with wind mills and solar cells!
DutchTreatMI
Champion Author Grand Rapids

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Message Posted: Oct 3, 2012 10:51:21 PM

The reserve is not to be used for short term.
OOXXFF
Champion Author Greensboro

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Message Posted: Oct 3, 2012 10:50:35 PM

The reserve may not be needed when we are oil independent.
frostyWV
Champion Author West Virginia

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Message Posted: Oct 3, 2012 10:50:24 PM

ok
joeschmo12
Champion Author New York

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Message Posted: Oct 3, 2012 10:49:28 PM

sweet and sour.. mmm... my car wants some chi-nese
hcivic
Champion Author Virginia

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Message Posted: Oct 3, 2012 10:46:21 PM

ok
MDTDriver
Champion Author California

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Message Posted: Oct 3, 2012 10:46:18 PM

Weapon no kidding!
txkrb
Champion Author Texas

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Message Posted: Oct 3, 2012 10:41:49 PM

Hey 1wI: Do yo know the only business experience obama has, NONE
1wi=idiot liberal
txkrb
Champion Author Texas

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Message Posted: Oct 3, 2012 10:38:56 PM

Wrong the Strategic Oil Reserve was not created to be used for oil price stabilization (manipulation) it was created to be an emergency reserve in case of supply problems
Not to be political ploy for garnering votes


[Edited by: txkrb at 10/3/2012 11:39:08 PM EST]
Gas4Gore
Champion Author Detroit

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Message Posted: Oct 3, 2012 10:38:12 PM

Romney is know what to do.
bonzoonfmb
Champion Author Florida

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Message Posted: Oct 3, 2012 10:37:47 PM

Weapon? I didn't even bother reading.
hpow
Rookie Author Vancouver

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Message Posted: Oct 3, 2012 10:36:04 PM

sure!!!
Pauline579
All-Star Author North Carolina

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Message Posted: Oct 3, 2012 10:35:32 PM

shaking head
FogCitySpotter
Champion Author San Francisco

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Message Posted: Oct 3, 2012 10:32:38 PM

A National energy policy would certainly help.
wayoung56
Champion Author Alabama

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Message Posted: Oct 3, 2012 10:31:57 PM

So why aren't they using it to stabilize prices as intended?
SavALot
Champion Author Virginia Beach

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Message Posted: Oct 3, 2012 10:27:07 PM

Only if used properly
yorkygurl2008
Veteran Author Indiana

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Message Posted: Oct 3, 2012 10:27:01 PM

OKAY !!!!!
FunMyster
All-Star Author Indiana

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Message Posted: Oct 3, 2012 10:26:41 PM

yes
WIPACKERFAN
Champion Author Chicago

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Message Posted: Oct 3, 2012 10:26:15 PM

A weapon against the US consumer.
danreino
Champion Author Twin Cities

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Message Posted: Oct 3, 2012 10:25:36 PM

abacus44....totally agree
abacus44
Champion Author Toms River

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Message Posted: Oct 3, 2012 10:23:01 PM

Also can be used as a political tool by political tools.
tjc09f
All-Star Author Tallahassee

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Message Posted: Oct 3, 2012 10:21:43 PM

K
30mpg80
Champion Author Lexington

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Message Posted: Oct 3, 2012 10:18:10 PM

So "teasing" is a versatile weapon? I don't think so.
s6sputnik
Champion Author Austin

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Message Posted: Oct 3, 2012 10:16:45 PM

Good
goodbuy
Champion Author Michigan

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Message Posted: Oct 3, 2012 10:15:28 PM

The U.S. has access to enough oil to make us independent. We just need to drill for it.
1WI
All-Star Author Appleton

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Message Posted: Oct 3, 2012 10:12:49 PM

"You know what the only business experience Paul Ryan guy has? As a teenager he drove the Oscar Mayer Wienermoble. A Republican inside a wiener. Usually it's the other way around."
scubadaniel
Champion Author Dayton

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Message Posted: Oct 3, 2012 10:12:04 PM

Weapon?
gd83goldwinger
Champion Author South Bend

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Message Posted: Oct 3, 2012 10:08:11 PM

Another thing our government can screw up in some way to cost the consumer more at the pump.
goldrose1
Champion Author Cleveland

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Message Posted: Oct 3, 2012 10:07:43 PM

Power play.
Tax dollars spent so fellahs can throw their weight around.
Darwin00
Champion Author Mississippi

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Message Posted: Oct 3, 2012 10:02:05 PM

Interesting
mrbee
Champion Author Little Rock

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Message Posted: Oct 3, 2012 10:01:12 PM

Leave the reserves alone.
DarthDadJr
Champion Author Virginia

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Message Posted: Oct 3, 2012 9:57:03 PM

I think the market is bigger than this...the only real use of the Strategic Reserve is for a true crisis or supply cut off.
camel1
Champion Author Minnesota

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Message Posted: Oct 3, 2012 9:56:53 PM

it serves several purposes other than a reserve
Ahking
Champion Author Orange County

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Message Posted: Oct 3, 2012 9:56:13 PM

everything has its moment.
Mikeyl
Champion Author Cleveland

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Message Posted: Oct 3, 2012 9:55:03 PM

It's another government bureaucracy that's out of control and costing us millions.
flyfast
Champion Author Kansas City

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Message Posted: Oct 3, 2012 9:54:06 PM

more BS so we pay more
SandeeC
Champion Author Ontario

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Message Posted: Oct 3, 2012 9:51:20 PM

Yeah, good question drz614.
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