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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

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honda0105 Champion Author Tallahassee Posts:18,818 Points:1,636,245 Joined:Nov 2008	Message Posted: Oct 10, 2012 3:02:18 AM Ignore honda0105 Report Abuse making it militaristic now?
Wizrd03 Champion Author Illinois Posts:8,288 Points:1,659,060 Joined:Oct 2008	Message Posted: Oct 4, 2012 5:30:21 AM Ignore Wizrd03 Report Abuse The SPR is a tease used by this administration for political purposes, not what it is mant to be
tomok Champion Author Portland Posts:33,577 Points:2,372,235 Joined:Aug 2006	Message Posted: Oct 4, 2012 12:31:01 AM Ignore tomok Report Abuse 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 Posts:5,249 Points:846,840 Joined:May 2007	Message Posted: Oct 3, 2012 10:57:13 PM Ignore Alaydown Report Abuse LOL, I won't bother stating that Aviator Rob can't be serious because he probably believes what he posts.
LilRedWagonIN Champion Author Indiana Posts:7,907 Points:1,580,135 Joined:Oct 2008	Message Posted: Oct 3, 2012 9:42:04 PM Ignore LilRedWagonIN Report Abuse SPR is being used as a political weapon? a threat?
gsayeg1 All-Star Author Milwaukee Posts:873 Points:151,220 Joined:Jun 2008	Message Posted: Oct 3, 2012 9:16:57 PM Ignore gsayeg1 Report Abuse and when the oil companies pay off our politians not to use it what do we do then
DriverofRed Champion Author Calgary Posts:2,303 Points:435,685 Joined:Dec 2011	Message Posted: Oct 3, 2012 9:15:13 PM Ignore DriverofRed Report Abuse k
gaspumpin Champion Author Indiana Posts:1,790 Points:414,905 Joined:Apr 2012	Message Posted: Oct 3, 2012 9:09:32 PM Ignore gaspumpin Report Abuse Aviator Rob-- no other President had to.
rahcat Champion Author Grand Rapids Posts:2,676 Points:689,675 Joined:Jan 2010	Message Posted: Oct 3, 2012 9:08:33 PM Ignore rahcat Report Abuse Reserve means Reserve.
Ashleighnicole2 Rookie Author Sacramento Posts:50 Points:14,890 Joined:Sep 2012	Message Posted: Oct 3, 2012 9:05:28 PM Ignore Ashleighnicole2 Report Abuse RESERVE shouldnt be short term
Aviator_Rob Champion Author New York Posts:3,985 Points:439,840 Joined:Mar 2012	Message Posted: Oct 3, 2012 8:58:03 PM Ignore Aviator_Rob Report Abuse You can't be serious, @Mowerman08. The President has expanded the SPR more than any other president in recent memory.
greatartiste All-Star Author New Jersey Posts:540 Points:105,810 Joined:Apr 2011	Message Posted: Oct 3, 2012 8:56:33 PM Ignore greatartiste Report Abuse short term is all it's good for
mstearno Champion Author Dayton Posts:8,174 Points:1,755,920 Joined:Jan 2008	Message Posted: Oct 3, 2012 8:55:51 PM Ignore mstearno Report Abuse 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 Posts:10,747 Points:1,798,620 Joined:Apr 2008	Message Posted: Oct 3, 2012 8:55:40 PM Ignore clermont40miles Report Abuse SPR - for emergency not political manipulation.
Mowerman08 Champion Author Milwaukee Posts:4,873 Points:1,242,280 Joined:Aug 2008	Message Posted: Oct 3, 2012 8:52:21 PM Ignore Mowerman08 Report Abuse 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 Posts:3,441 Points:778,190 Joined:Mar 2011	Message Posted: Oct 3, 2012 8:51:21 PM Ignore DutchTreatMI Report Abuse The reserve is not to be used for short term.
OOXXFF Champion Author Greensboro Posts:3,191 Points:1,105,115 Joined:Sep 2009	Message Posted: Oct 3, 2012 8:50:35 PM Ignore OOXXFF Report Abuse The reserve may not be needed when we are oil independent.
frostyWV Champion Author West Virginia Posts:2,339 Points:519,235 Joined:May 2011	Message Posted: Oct 3, 2012 8:50:24 PM Ignore frostyWV Report Abuse ok
joeschmo12 Champion Author New York Posts:1,102 Points:324,550 Joined:Mar 2012	Message Posted: Oct 3, 2012 8:49:28 PM Ignore joeschmo12 Report Abuse sweet and sour.. mmm... my car wants some chi-nese
hcivic Champion Author Virginia Posts:3,984 Points:2,291,465 Joined:Aug 2005	Message Posted: Oct 3, 2012 8:46:21 PM Ignore hcivic Report Abuse ok
MDTDriver Champion Author California Posts:9,848 Points:2,180,900 Joined:Jul 2006	Message Posted: Oct 3, 2012 8:46:18 PM Ignore MDTDriver Report Abuse Weapon no kidding!
txkrb Champion Author Texas Posts:1,595 Points:660,180 Joined:May 2011	Message Posted: Oct 3, 2012 8:41:49 PM Ignore txkrb Report Abuse Hey 1wI: Do yo know the only business experience obama has, NONE 1wi=idiot liberal
txkrb Champion Author Texas Posts:1,595 Points:660,180 Joined:May 2011	Message Posted: Oct 3, 2012 8:38:56 PM Ignore txkrb Report Abuse 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 Posts:2,519 Points:443,250 Joined:Jan 2010	Message Posted: Oct 3, 2012 8:38:12 PM Ignore Gas4Gore Report Abuse Romney is know what to do.
bonzoonfmb Champion Author Florida Posts:1,817 Points:664,160 Joined:Feb 2010	Message Posted: Oct 3, 2012 8:37:47 PM Ignore bonzoonfmb Report Abuse Weapon? I didn't even bother reading.
hpow Rookie Author Vancouver Posts:85 Points:18,850 Joined:Oct 2012	Message Posted: Oct 3, 2012 8:36:04 PM Ignore hpow Report Abuse sure!!!
Pauline579 All-Star Author North Carolina Posts:836 Points:150,090 Joined:Mar 2012	Message Posted: Oct 3, 2012 8:35:32 PM Ignore Pauline579 Report Abuse shaking head
FogCitySpotter Champion Author San Francisco Posts:2,615 Points:546,815 Joined:Apr 2007	Message Posted: Oct 3, 2012 8:32:38 PM Ignore FogCitySpotter Report Abuse A National energy policy would certainly help.
wayoung56 Champion Author Alabama Posts:2,915 Points:844,035 Joined:Oct 2006	Message Posted: Oct 3, 2012 8:31:57 PM Ignore wayoung56 Report Abuse So why aren't they using it to stabilize prices as intended?
SavALot Champion Author Virginia Beach Posts:8,613 Points:1,737,585 Joined:Apr 2005	Message Posted: Oct 3, 2012 8:27:07 PM Ignore SavALot Report Abuse Only if used properly
yorkygurl2008 Veteran Author Indiana Posts:257 Points:51,785 Joined:Sep 2012	Message Posted: Oct 3, 2012 8:27:01 PM Ignore yorkygurl2008 Report Abuse OKAY !!!!!
FunMyster All-Star Author Indiana Posts:909 Points:73,480 Joined:Jul 2011	Message Posted: Oct 3, 2012 8:26:41 PM Ignore FunMyster Report Abuse yes
WIPACKERFAN Champion Author Chicago Posts:8,939 Points:1,870,175 Joined:Aug 2005	Message Posted: Oct 3, 2012 8:26:15 PM Ignore WIPACKERFAN Report Abuse A weapon against the US consumer.
danreino Champion Author Twin Cities Posts:8,469 Points:1,563,535 Joined:Mar 2008	Message Posted: Oct 3, 2012 8:25:36 PM Ignore danreino Report Abuse abacus44....totally agree
abacus44 Champion Author Toms River Posts:3,600 Points:773,040 Joined:Jan 2011	Message Posted: Oct 3, 2012 8:23:01 PM Ignore abacus44 Report Abuse Also can be used as a political tool by political tools.
tjc09f Veteran Author Tallahassee Posts:477 Points:692,850 Joined:Mar 2011	Message Posted: Oct 3, 2012 8:21:43 PM Ignore tjc09f Report Abuse K
30mpg80 Champion Author Lexington Posts:10,260 Points:1,513,605 Joined:Nov 2008	Message Posted: Oct 3, 2012 8:18:10 PM Ignore 30mpg80 Report Abuse So "teasing" is a versatile weapon? I don't think so.
s6sputnik Champion Author Austin Posts:6,327 Points:1,332,670 Joined:Jun 2007	Message Posted: Oct 3, 2012 8:16:45 PM Ignore s6sputnik Report Abuse Good
goodbuy Champion Author Michigan Posts:7,806 Points:1,449,205 Joined:May 2005	Message Posted: Oct 3, 2012 8:15:28 PM Ignore goodbuy Report Abuse The U.S. has access to enough oil to make us independent. We just need to drill for it.
1WI All-Star Author Appleton Posts:818 Points:274,255 Joined:Jan 2012	Message Posted: Oct 3, 2012 8:12:49 PM Ignore 1WI Report Abuse "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 Posts:1,546 Points:718,325 Joined:Jan 2011	Message Posted: Oct 3, 2012 8:12:04 PM Ignore scubadaniel Report Abuse Weapon?
gd83goldwinger Champion Author South Bend Posts:1,428 Points:519,230 Joined:May 2011	Message Posted: Oct 3, 2012 8:08:11 PM Ignore gd83goldwinger Report Abuse Another thing our government can screw up in some way to cost the consumer more at the pump.
goldrose1 Champion Author Cleveland Posts:11,065 Points:1,948,630 Joined:Feb 2005	Message Posted: Oct 3, 2012 8:07:43 PM Ignore goldrose1 Report Abuse Power play. Tax dollars spent so fellahs can throw their weight around.
Darwin00 All-Star Author Mississippi Posts:848 Points:292,140 Joined:Dec 2010	Message Posted: Oct 3, 2012 8:02:05 PM Ignore Darwin00 Report Abuse Interesting
mrbee Champion Author Little Rock Posts:3,889 Points:2,493,155 Joined:Oct 2005	Message Posted: Oct 3, 2012 8:01:12 PM Ignore mrbee Report Abuse Leave the reserves alone.
DarthDadJr Champion Author Virginia Posts:7,427 Points:1,545,670 Joined:Jul 2008	Message Posted: Oct 3, 2012 7:57:03 PM Ignore DarthDadJr Report Abuse 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 Posts:8,405 Points:2,293,340 Joined:Jul 2006	Message Posted: Oct 3, 2012 7:56:53 PM Ignore camel1 Report Abuse it serves several purposes other than a reserve
Ahking Champion Author Orange County Posts:3,599 Points:621,360 Joined:May 2011	Message Posted: Oct 3, 2012 7:56:13 PM Ignore Ahking Report Abuse everything has its moment.
Mikeyl Champion Author Cleveland Posts:5,297 Points:1,210,620 Joined:Aug 2004	Message Posted: Oct 3, 2012 7:55:03 PM Ignore Mikeyl Report Abuse It's another government bureaucracy that's out of control and costing us millions.
flyfast Champion Author Kansas City Posts:9,381 Points:1,852,495 Joined:Jan 2008	Message Posted: Oct 3, 2012 7:54:06 PM Ignore flyfast Report Abuse more BS so we pay more