U.S. could tap oil reserves as gasoline price surges!

What are your thoughts on this? I don't think this is a good idea because if we tap into it now then we won't have it when we really need it! But have we ever done anything smart in these types of situations!
Click on this link below to read the story!

m.yahoo.com...=AtI89SiiTRUnFQ6YnTx7O.mx.tw4?id=http%3A%2F%2Fxml.news.yahoo.com%2Fus%2Fnews%2Frss%2Frichstoryrss.html%3F u%3D%2Fnm%2F20110307%2Fbs_nm%2Fus_usa_oil&ref_w=frontdoors&pageid=today&.intl=US&.lang=en&.tyahoo

Stock up your supply when the oil price is low,
Sell your oil supply when the price is high,
and then by some magical wonder the oil price recovers just in time to stock up the oil supply again.

And thats how you make lots and lots of money

Let me guess....

Fracking?

Why pull from the reserves? So the reserves get depleted and we've no other option than buy foreign?
Why NOT pull oil from local sources?

It's fairly sad now that a gallon of gasoline costs almost as much if not more than what a gallon of water, milk or even orange juice costs.

With all due respect, what are those of us that must travel to our job sites, and cannot rely on public transportation (which is a joke anyhow) to get us to our location with the tools we require so we can build those things that you other people can't find a way to do without... what are we supposed to do?

Okay, we will pay more.

Can you guess what that means?

You will pay more for access to the networks... AT&T, Verizon, MetroPCS, etc. because it costs "us" more to build it.

US peaked in 1970....

They have stuff all reserves... the only "tapping" they can do is through fracking and I suggest you acquaint yourselves with it's follies before someone gives the go ahead and your all poisoned

They cant start releasing this oil unless theres a supply crunch, currently that is not the case theres plenty of supply out there its the unrest causing the price hike not supplies.

Originally posted by Nomad451
US peaked in 1970....

They have stuff all reserves... the only "tapping" they can do is through fracking and I suggest you acquaint yourselves with it's follies before someone gives the go ahead and your all poisoned

but according to Lindsey Williams,
Alaska's North Slope has 350 Million
barrels of oil yet to be tapped.

I knew this thread was coming
and was expecting to hear:

drill baby drill !!!
somewhere down the line.

Originally posted by lokdog
They cant start releasing this oil unless theres a supply crunch, currently that is not the case theres plenty of supply out there its the unrest causing the price hike not supplies.

I just can't see being a slave to gasoline.
we have the tech to power vehicles
by other means, yet we're still
sucking that ME Oil teet making
some bastards absolutely rich.
I wanna sever the ball and chain.

Originally posted by boondock-saint

Originally posted by lokdog
They cant start releasing this oil unless theres a supply crunch, currently that is not the case theres plenty of supply out there its the unrest causing the price hike not supplies.

I just can't see being a slave to gasoline.
we have the tech to power vehicles
by other means, yet we're still
sucking that ME Oil teet making
some bastards absolutely rich.
I wanna sever the ball and chain.

I agree. Follow the money! The money is in electric cars but then they will soon say that we are using too much electricity to power cars and then make us find a diff way to get around. It's always gunna be a problem.

reply to post by boondock-saint


350 million barrels is miniscule...

The US uses around 20 million barrels a day

Ya'll are missing the easier method of lowing oil prices in general in the united states, Resume off-shore drilling. Since the ban was lifted in the Bush years, the price of gas at the pump has been steadily falling, enter Obama and the price sky rockets at his refusal to issue permits for off shore drilling and rigs off our coast move to places that will allow drilling.

To answer your question though will releasing oil out of our strategic reserves help fuel prices? Yes but only as a temporary measure, and once those reserves are depleted we're back to the same point we started. The biggest reason not to release those reserves? They are there primarily for our military's use if things really go tits up. Hence why they are called strategic, use them now, we may only be shooting ourselves in the foot for later, especially if you are a believer in TPTB and NOW end of things.

To sum up, Drill here, Drill Now America, we have more oil in this country than many will lead you to believe, we don't need to be hooked on foreign oil like we are.

Drill baby drill thats crazy as hell untill we can hold oil companies accountable, were just asking for more gulf disasters. I read a 2006 congressional report that sais we in the US pay a 60% speculater premium on every barrel of oil. Wanna see the price drop make the hedge funds who trade comodities actually take posession of the oil and you'll see the price drop like a rock, goes for all commodities in my opinion.

reply to post by lokdog


The oil companies have alot to be held accountable for, and our government too for that matter. Most pressing in my opinion is how much our government has let BP run amock with the still on going Gulf Oil Spill Response. Little does the public at large know, there are still beach crews cleaning up tar balls and other oil spill product every non-raining weekday.

None the less, if Obama would be kind enough to allow offshore drilling permits to be issued again, the price of oil should drop.

reply to post by rcubed1080


I agree with the idea of off shore drilling but that gulf spill really scarred me. Until these oil companies are willing to put safety first for its employees and the enviroment instead of money, i want them to stay the hell away from off shore drilling. I have no doubt that the drilling can be done safely, i just have serious doubts as to the willingness of oil companies to do it.

How about we just go back to the concept of supply and demand? Wall street speculators are speculating that oil supplies will lower in the future so they raise the price of oil now to make up for the possibility of future losses to their investors, the oil companies.

Even though we're recieving extra oil already, the countries currently in turmoil aren't main suppliers AND the Saudi's have already begun extracting more oil, 'just in case'.

There's no need to drill here or offshore. The price increase is a lie, just like it was the last time it happened.

spec·u·late/ˈspekyəˌlāt/Verb
1. Form a theory or conjecture about a subject without firm evidence.