Let's just hope that the government will step in if the situation becomes critical (well, at least more critical ).
I disagree. The government doesn't have the right to tell a company who they can and can't sell to, especially if it's just to protect consumers or companies from market forces. If the government decides this is a security issue, then they should buy the oil at a fair price and sequester it, as they have done with the strategic reserve.
Actually, I'm pretty torn on this. I think that government should stay the hell out of people's business, but in a case of a severe national security crisis (ie. all foreign suppliers of oil cut us off), I feel that there should be a way for the government to step in and buy the oil from our own wells. Tough call...
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Everyone is finally equal. No one is smarter than anyone else. No one is stronger than anyone else. No one is better. Everyone is worse.
Who's for going in on buying an oil tanker, cruising to Caracas, filling up, and selling it over here (I'm aware of all of the illogical details, Stru )
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Everyone is finally equal. No one is smarter than anyone else. No one is stronger than anyone else. No one is better. Everyone is worse.
Let's just hope that the government will step in if the situation becomes critical (well, at least more critical ).
I disagree. The government doesn't have the right to tell a company who they can and can't sell to, especially if it's just to protect consumers or companies from market forces. If the government decides this is a security issue, then they should buy the oil at a fair price and sequester it, as they have done with the strategic reserve.
The Govt could tax the hell out of it to the point that foreign buyers will back out.
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Now I'm just laid bad - G35Princess
R.I.P. MBC
Let's just hope that the government will step in if the situation becomes critical (well, at least more critical ).
I disagree. The government doesn't have the right to tell a company who they can and can't sell to, especially if it's just to protect consumers or companies from market forces. If the government decides this is a security issue, then they should buy the oil at a fair price and sequester it, as they have done with the strategic reserve.
The Govt could tax the hell out of it to the point that foreign buyers will back out.
+1
The best idea that I have heard so far...make it so expensive that we are the only ones that want to buy it, without the export tax of course.
Gas stations will be closing at 1:00pm in Charleston today, so that they can ration the amount we have...bullshit!
BTW, there are oil refineries outside of Louisiana (California, for example) so releasing crude oil from the Strategic Oil Supply (or whatever they call it) should provide some relief
True, but the figure I heard this morning is that 80% of our refining capability is offline.
Well, thankfully, we are learning now that is a gross overestimation. Unfortunately, some (how many?) refineries will not be back in full operation quickly due to damage and, or in some cases, a result of pipeline rather than refinery damage.
Quote:
WASHINGTON, Sept 1 (Reuters) - Some U.S. oil refineries shut by Hurricane Katrina may be able to restart operations within one to two weeks, but others make take "several months" to resume making gasoline and other petroleum products, the Energy Information Administration said Thursday.
"Unlike 2004's Hurricane Ivan, which affected oil production facilities and had a lasting impact on crude oil production in the Gulf of Mexico, it appears that Hurricane Katrina may have a more lasting impact on refinery production and the distribution system," the EIA said in its most recent update on the effects of the hurricane on the energy sector.
The Energy Department's analytical arm said nine major oil refineries in Louisiana and Mississippi remained shut from the hurricane.
Those refineries account for about 11 percent of total U.S. refining capacity.
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