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U.S. gov't to order general sale of emergency crude

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posted on Sep, 2 2005 @ 12:13 PM
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Amid the disruption caused by Hurricane Katrina, the US production and refining of oil was crippled. The US is scrambling to restore production and is tapping onto its Strategic Reserves. European members of the International Energy Agency are offering their help.
 



news.yahoo.com
The Bush administration will order the general release of about 900,000 barrels per day of crude oil from the nation's emergency stockpile on Friday, an action aimed at helping to halt runaway oil prices, an industry source told Reuters.

Also, European members of the International Energy Agency will provide about 1.1 million barrels per day of gasoline supplies, according to the source, who was familiar with the Bush administration's plans and spoke on condition of anonymity.


Please visit the link provided for the complete story.


This catastrophe seems to have caught the nation off-guard, despite assurances that we had some semblance of preparedness.
Other countries are offering oil and oil products.

How long can we tap into our Strategic Oil Reserve? How will we be able to replenish these supplies?


Related News Links:
news.yahoo.com
www.bloomberg.com
news.yahoo.com
www.bloomberg.com

[edit on 2-9-2005 by DontTreadOnMe]

[edit on 10-9-2005 by DJDOHBOY]




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