Quote:
Originally posted by Mmmm, Burger (C.J.)
Any release would be outrageous. What part of "strategic" don't the dems understand? There is nothing to suggest that prices reflect a temporary shock. Demand for oil is high; production of oil is flat. Release from teh SPR will, at best, temporarily reduce those prices, only to see them bounce up again when the SPR is depleted (or we stop discharging from it). At that point, we'll be in a worse position to respond to a genuine shock, such as a blown up suez canal or something.
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Haven't been following this one too closely, but that article seems to indicate two different SPR policies are being proposed. The first is release of reserve oil into the market, which i agree would be shortsighted. The second (and the one that the article attributes to Kerry) is suspending further purchases until prices subside. That to me seems highly logical, both by avoiding paying the premium prices dictated by the current seller's market when the oil is not required to meet current needs and by reducing demand for the oil that is on the market. Am I missing something? Or are you decrying the former and not the latter?
