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Europe to ship oil to US

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posted on Sep, 3 2005 @ 11:37 AM
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Personally I don't see the US do the same in the opposite direction plus if it weren't for all those SUVs and American energy inefficiency, there'd be much less of a problem. I suspect the only reason they're doing this, is because they fear that if the US economy goes down with increasing oil price, the EU economies will be dragged down along.

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Brussels - The 26 members of the International Energy Agency (IEA), among whom 17 EU member states, are prepared to deliver oil - especiallt gasoline - to the United States from their own strategic reserves. This has to help ease the shortages that have been created in the US by hurrican Katrina.

The communication of the EU about the aid to the US did not excel in coherence. At the informal summit of the ministers of Foreign Affairs in Wales, High Representative Javier Solana first declared that the US could count on the support from the strategic oil reserves of the different EU countries "if they ask for it". This was followed by the denial of the British minister and EU chairman Jack Straw that something like that was on tracks: "There is something like an oil market."

When asked about the apparent contradiction, a spokesperson for the European Commission replied that this kind of matters is in the first place an affair for the International Energy Agency (IEA) in Paris. Of the 26 IEA members, 17 are EU members. "If there is a demand for it, we can play a coordinating role", so the spokesperson said. The US yesterday formally called the aid of the IEA. The US only keep strategic reserves of crude oil for emergencies, but not of end products. Because of the hurricane, the capacity for refining 2 million barrels a day has gone lost, the IEA says. Because of this, there is a gasoline shortage in some states.

The member states of the IEA keep 4,1 billion barrels of oil in stock, of which 1,4 billion are controlled by governments and can be addressed in case of emergency. In the first month of a crisis situation up to 12.9 million barrels of crude oil per day and up to 3.3 milllion barrels of finished products can be used. Because for addressing the strategic reserves there needs to be a unanimous agreement between all IEA-memberstates, yesterday afternoon a meeting took place. The 26 member states agreed with the proposition to bring for one month long 2 million barrels of oil a day into the market. There is especially a need for gasoline. The deliveries are made against the price of cost.

Belgium, IEA member, was just as the other members polled in advance to make a contribution for looming energy shortage in the US. Minister of Economy Marc Verwilghen yesterday announced that "our nation is ready to supply part of its gasoline reserves to the US". Belgium possesses strategic gasoline reserves for more than 120 straight days of normal consumption. That is 30 days more than the stocks for 90 days of consumption required for all EU members, according to a European directive, to keep in reserve for most important petrol products. The EU according to its own statements has oil reserves for between 115 and 150 days.

Since the oil crisis of 1973 the EU also has an "Oil Supply Group", which only meets next friday. They will discuss the situation on the world oil market and the "potential release of reserves for the world market". The European Commission is also prepared to make available for the US experts in natural disasters and material such as water pumps. They are waiting for that however for a formal request from Washington.

www.iea.org...
www.iea.org...




posted on Sep, 3 2005 @ 11:43 AM
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Originally posted by Simon666
Personally I don't see the US do the same in the opposite direction plus if it weren't for all those SUVs and American energy inefficiency, there'd be much less of a problem. I suspect the only reason they're doing this, is because they fear that if the US economy goes down with increasing oil price, the EU economies will be dragged down along.

Thats bullsh!t. As if the US never gives aid to other countries

Of course Europe benefits from a healty US economy, but what would happed if the EU didnt send aid at all? That would be even more disasterous for their economy, do you think american companies would still want to trade with the EU?

Its just plain normal to give aid to a country in deep problems. PERIOD.

[edit on 9-3-2005 by Zion Mainframe]



posted on Sep, 3 2005 @ 01:20 PM
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I'm sorry, but I fail to see why the US needs aid from other countries. Really, this is the wealthiest nation on earth, you recieve aid if you cannot cope.

I really like America and have plenty of american friends. But I am also a realist. Just look at this forum, you have plenty of Americans boasting about how wealthy their country is and claiming that the rest of the world is jealous. Look at what is happening now. People are being raped, murdered and are starving to death in an American city. This has nothing to do with America not being able to cope. This has everything to do with incompetence.

Either a fascade has shattered and America really isnt the beacon of western civilisation and democracy like many here like to portray, or there is something very wrong at the top.



posted on Sep, 3 2005 @ 01:21 PM
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Originally posted by Zion Mainframe
Thats bullsh!t. As if the US never gives aid to other countries

I didn't say that. I doubt Bush would make available oil reserves of his country in case another country would get into economic troubles because of the oil price. The US kills for oil, as can be witnessed in Iraq. This issue stands apart from humanitarian aid.



Originally posted by Zion Mainframe
Its just plain normal to give aid to a country in deep problems. PERIOD.

This isn't really aid since it doesn't benefit the victims of the hurricane, unless you generalize the concept "victim" to those indirectly affected, such as oil consumers.

[edit on 3-9-2005 by Simon666]






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