Walaby wrote:
Invoke the Defense Production Act Make the US companies fulfill America's requirement first before shipping overseas.:W
We were energy independent and can be again. We just have to WANT to be.
Little known fact about strategic reserve... it is not the high grade crude that refineries are used to, so it takes more effort to refine it.
The act is largely symbolic, and has a very short term impact on price.
Mike
We are energy independent, what we're not independent of is the worldwide market where the price is established. Sure one can create a ".gov controlled" distribution system, but nobody wants that. (You're suggesting taking profits from the oil company shareholders and owners and then redistributing the wealth to others, is that correct?)
And keeping all our oil onshore will just make it that much more painful for the countries that are our partners doing everything possible to stop Russia short of starting WW3.
Saying injecting 180 million bbls in the supply of oil is symbolic ignores the very basic theory of supply and demand. The refineries nearby the reserves can all handle the sour oil in the reserve just fine, as they have processed it for decades.
Perhaps instead of crying over the price of fuel folks can slow down and save 10-15% of the cost by just by easing off the gas pedal. But people would rather be angry than actually do something constructive.