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Registered
Join Date: Oct 1999
Posts: 329
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selling our oil reserves?
I always thought one should buy low and sell high. So in that same regard shouldnt the US Goverment sell oil now since its at an all time high and buy back when the price falls as it always does. pockect some instant profit. If it lowers oil prices in the near term all the better.
Just how long could the Oil Reserves sustain the US economys need for oil 1 month 1 year? Why not churn this asset to help out or budget needs? oh but i forgot we have oil barons for our leaders so i guess these high prices are just an retirement package for GW and his flunkys. |
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05-18-2004, 07:55 AM
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Non Compos Mentis
Join Date: May 2001
Location: Off the grid- Almost
Posts: 10,594
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The oil reserves are supposed to be for an emergency, something like the supply being cut off. If the US sells it's reserves, what happens if Saudi Arabia decides to not play nice before replenishing?
The reserves should be just that. Not a political toy. Of course, most issues are political toys. |
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05-18-2004, 08:17 AM
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I'm off the hook.....
Join Date: Oct 2001
Location: 22 miles south, then 11 miles west of LAS
Posts: 2,895
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The Dems want to sell the reserves so that when the al-Quieda bombing attack comes right before the election in November, they can then complete the destruction of the United States as we know it.
No other reason for anyone to want to do something so stupid.
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No, I don't sing. Based there for too long. |
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05-18-2004, 08:40 AM
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Detached Member
Join Date: May 2003
Location: southern California
Posts: 26,964
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Why would you want to deplete our reserves when we can deplete theirs first? At the market clearing price, the price of our reserves would float to the market price, not bring it down (we have a small amount in reserve compared to theirs, so their oil would set the price)
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Hugh |
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05-18-2004, 09:51 AM
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Registered
Join Date: Mar 2002
Location: My House
Posts: 5,345
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Question is - our reserve is not at capacity but it isn't what I would consider low.
Diane Feinstien is presenting a measure that would STOP us from buying for the reserve when prices are as high as they are today. Her take is that it isn't fiscally responsible to be purchasing when prices are higher than they have ever been - she thinks that we are wasting tax dollars. I think the Bush administration is trying to make it look more fiscally responsible to start drilling in the artic and alaskan protected areas. They have no intention of doing anything but allowing that 40% of our oil from the mid-east to do anything but rise.
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-The Mikester I heart Boobies |
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05-18-2004, 09:55 AM
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