Uncle Sam Keeps Oil Prices High!
From The Christian Science Monitor:
Uncle Sam is adding 60,000 barrels of oil a day to giant underground caverns in Texas and Louisiana to be used for the proverbial ‘rainy day. Is it raining yet? … Proponents of the government taking action to ease the crunch say that storing oil at a time of soaring prices, in what is called the Strategic Petroleum Reserve (SPR), does not makes sense. Some want some oil released in the hope that it will drive down prices. Opponents counter that using the SPR would probably have little impact. In fact, they maintain, as does President Bush, that there is no emergency.
Michael J. Totten said,
May 15, 2008 at 6:16 pm
Hi
I saw your comment on my site asking why I’ve beed deleting your comments. But I haven’t. I have never deleted a single one of your comments. This is the first time I have ever seen a comment from you. I don’t know what the problem is, but until now your comments have not actually made it onto the site. Maybe whatever the problem was had been fixed, though, since the comment from you has appeared.