Energy Dept. Ready to Tap Emergency Oil

[Omaha Steve]

Full story: http://apnews.excite.com/article/20060807/D8JBL9P82.html

Energy Dept. Ready to Tap Emergency Oil
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Aug 7, 10:57 AM (ET)

By H. JOSEF HEBERT

(AP) Map locates the Prudhoe Bay oil field in Alaska. (AP Graphic)
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WASHINGTON (AP) - The Energy Department is prepared to provide oil from the government's emergency supplies if a refinery requests it because of the disruption of supplies from Alaska, a department spokesman said Monday.

"We're taking a very serious look at this," said spokesman Craig Stevens, referring to the loss of nearly half of oil shipments from Alaska's North Slope because of a pipeline corrosion problem.

Stevens said the department will be in contact with BP Exploration Alaska Inc. and West Coast refiners later in Monday to assess the situation. "If there is a request for oil we'll certainly take a serious look at that," he said.

Sen. Charles Schumer, D-N.Y., often a critic of the administration's energy policy, said: "This is the appropriate and right thing to do. We're glad the White House's reluctance to use the Strategic Petroleum Reserve to prevent price spikes seems to have dissipated."

[Tyrone Slothrop]

1. Shouldn't we be saving this for, you know, an emergency?

The price of gas rising another $.10-$.50/gallon does not constitute an emergency in my opinion. Especially not at the beginning of hurricane season.

How did so many incompetent boobs get into office????

[w4rma]

6. Nope. This oil was to help Republicans get elected.

Not for any emergencies. :sarcasm:

[spotbird]

8. Elections

are three months away. Emergencies don't get any bigger than that.

[htuttle]

2. Good thing we're not in an overseas war where they might need that....

...for it's intended purpose.

[BeHereNow]

3. Trying to stave off an American uprising?

Americans will put up with all sorts of
atrocities, especially things done in their
names in the ME...BUT they will not
tolerate higher gas prices.

How fucked up is that?

BHN

[jpak]

4. Yup

and one major hurricane in the Gulf of Mexico and one incident in the Persian Gulf would put oil over $100 a barrel.

That's why ChimpCo is so scared of this...

5$ a gallon gas = Democratic House and Senate in 2007.

[JAYJDF]

5. "THEY" really want to release the oil to show how the administration

is taking care of us/US. And just before elections. HMMMMM

[legin]

7. This 'strategic reserve' has got to go

Reserve = 700 milion barrels

Let's say Iran production = 2.5m barrels per day

Time that reserve can replace lost Iranian production = about a year.

Time that Iran can stomach loss of revenue from not exporting oil = not a year, probably about 3 months

Therefor the u.s. can attack Iran whenever it feels like it.

[neverforget]

9. SPR = Strategic Political Reserve