Strategic Petroleum Reserve
The Strategic Petroleum Reserve (SPR) is a defense for our country in time of emergency. According to the Department of Energy the SPR:
. . . provides the President with a powerful response option should a disruption in commercial oil supplies threaten the U.S. economy. It also allows the United States to meet part of its International Energy Agency obligation to maintain emergency oil stocks, and it provides a national defense fuel reserve.
Yes, we are all feeling the pinch at the pump right now. Nationally, a gallon of gasoline is inching toward $ 3.00. And while no one wants to pay this, we have known for years that our gasoline is underpriced.
Katrina has created a mess. In that mess is more pressure on gasoline prices. Around here, we have seen a jump of six cents per gallon in the last 48 hours. Louisiana and Mississippi are in a state of emergency. It is important to understand, however, that our nation is not in a state of emergency.
During the 2000 campaign, then Governor Bush criticized President Clinton for releasing crude from the SPR as an effort to ease gasoline prices to help Mr. Gore in the campaign as "playing politics". Clinton had used the SPR in 1996 to stave off Bob Dole’s call for repealing the Clinton gas tax of 1993. Bush and other critics were correct to criticize such moves with the SPR. Likewise, releasing oil now would be purely political. Bush’s numbers are down. Folks are upset about rising prices at the gas tank. The Gulf coast is a mess. Releasing SPR now would do little to ease gas prices.
Our economy is not threatened right now. The Dow Jones Industrial Average is up over the last two years. President Bush should not release any oil from the Strategic Petroleum Reserve.
Also blogged on this date . . .
- Cream of Curried Peanut Soup - 2007
- Preparing - 2006
- Sheehan Has No Credibility - 2005
- 10,000, 20,000, 30,000 miles or more - 2005
- BIG OLD DEAD CACHE - 2003
- Tax Rebates - 2001
- Solar Circus - 1992