Wednesday, May 7, 2008

Stage 3:Suspend deliveries to U.S. oil reserve, lawmakers say

Only one thing could bring the democratic and republican party together. GAS PRICES, with the fuel costs becoming a major election year issue, members of both parties pitched their ideas Wednesday for bringing down prices. Democrats called for a profits tax on oil companies, with new protections against “price-gouging”. Republicans asked for increased exploration for new oil sources. The only plans they had in common have been to stop the delivery of 70,000 barrels of oil a day for the emergency stockpile. President Bush has resisted suspending deliveries, saying it would weaken the nation's defenses against an interruption in the flow of foreign oil. The reserve, set up after the 1973 Arab oil embargo, holds about 700 million barrels in salt caverns along the Gulf Coast. Bush also claims that halting deliveries would do little to bring oil prices down. Stating 70,000 barrels represents only a small fraction of the 20 million the nation uses every day.
Only 2 to 5 cents would be saved if the nation stops sending the barrels to the reserves. In my opinion that’s not enough to stop sending the barrels to the reserves. I think that a guarantee from one of the parties and the candidates dealing with dropping oil prices will increase their chances drastically! Oil prices and the War on Terror are the main concerns of the American public; promises and solutions will give an opponent an edge in the race on either or both categories. To start tax the oil companies more will only increase the prices in the long run and drilling in the land doesn’t seem so bad to me as long as the damage to the land isn’t dangerous to people or the land and its inhabitants. Maybe we should just vote Senator Clinton in, having 2 presidents for the price of one might be handy. After all Hilary would be crazy if she doesn’t take any advice about or economy from Bill most older people I talk to say they want him back and he did the best for us in their opinion. However, I think Bill will have to make a few decision during the day since Hilary will be sleeping after staying up all night answering phone calls.

http://www.latimes.com/news/nationworld/nation/la-na-energy8-2008may08,0,4447440.story

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