Bush Won't Release Emergency Oil To Ease Rising Prices

Bush Won't Release Emergency Oil To Ease Rising Prices

news.yahoo.com

Meanwhile, a coalition of heating oil suppliers in the Northeast blamed speculators for pushing oil to $100 a barrel and called on Congress to rein in the abusive trading.

"We're paying $100 a barrel for oil now so Wall Street traders can take home billions in bonus payments,\" Shane Sweet of the New England Fuel Institute said. \"Wall Street greed is pushing the American family and our small businesses to the breaking point,\" he added.

(visit the link for the full news article)

Bush refusing to release emergency oil causing the gas prices to skyrocket could lead to some very terrible situations in the future. Possibly a riot I would say.
Already people are near the breaking point. My parents, my friends with cars, my friends families, and even just average people walking into my mothers store to buy gas, everyone around me so far is getting pissed. One of my friend's even said that if there was a riot, he would be all to happy to join the cause.
I myself am not looking forward to paying for high prices when I get my licence and vehicle in February. I\'m sure I will soon be feeling the same way though I will get over it and learn to deal with it, some may not.
Stress from work, from school(for High School students, who already have a short temper), from the war(people that are upset that their loved ones are there and want them home), and from prices, obviously something big will happen and all it needs is some person who has had enough.

news.yahoo.com
(visit the link for the full news article)

[edit on 3-1-2008 by UnforgiveableSin]

It would take more than one person who's had enough...though I agree with you otherwise. This sounds reminiscent of the Fed Reserve when it was initially set up and they were pushing all the smaller banks out of business with propaganda and claims of bank failures to their own personal gains in hopes of controlling the entire money supply. Perhaps the larger energy companies are going to announce that the smaller companies can't withstand the market right now and a central energy institution needs to be installed.

Hopefully John Q. Public is waking up to the mess and will demand change.

Also, I can't begin to understand why the New England Fuel Institute would be complaining. I mean...it's only -15 with the wind chill right now.

George W. says: "F#$% the freezing! My big, white house is pretty warm. Why isn't everyone else's?"

reply to post by Sacreligion


Of course there would have to be more than one person to carry out such a full blown riot of some sort, but it only takes one person with the idea and drive to push others into it and convince them it is the only way to change it. With fears of economic downfall, more crisis are expected to follow, as you have said in the beginning, which I didn't think of by the way.

Love the extra comment.

lol its so funny to listen to all the US people whining about high gas pricess the truth is you had very very low gas pricess for a very very long time and you got used to it

In my crappy country we pay arround 2$ per liter (which would be arround 6.5$ per gallon) and nobody is rioting

I know that gas pricess are skyrocketing and that its a very bad thing so dont get me wrong , its just funny to watch people whining over something that alot of countries had for a very long time

[edit on 3-1-2008 by Thill]

reply to post by Thill


That is completely understandable, Thill. I thought the whining was pointless as well...until I realized I would have to pay from my own pocket soon

it's not necessarily just people being "used to" low oil prices though. the market itself over the past 20 years or so since the last oil spike has adjusted to these prices, so the combination of the falling dollar and the rising oil prices creates a mixture of economic failure for the US as more and more people purchase fuels with money they don't have. The credit keeps piling up, people become dirt poor as they become more and more in debt, and the big companies won't be getting paid anymore(which I'm sad to say considering I loathe the greed inherent in big business, but they are the majority that's responsible for the well-being of our economy).

The problem is that since the richest 10% in America control 90% of the wealth, they won't really be hit too hard by an economic recession. They might lose a lot of their wealth, but they'll sit comfortably and wait for things to fall back into balance, if things ever do. If not, they hit you with the NAU, and eventually the NWO. Security is most important, remember, whether it be financial, national, or sanity. At least that's what CNN, Fox, MSNBC, The White House, FEMA, the Pentagon, the NSA, the UN...oh I'm sure you get I'm saying.

Hopefully this all blows over after this season, but I don't really see that happening.

Originally posted by UnforgiveableSin
That is completely understandable, Thill. I thought the whining was pointless as well...until I realized I would have to pay from my own pocket soon

isn't that the definition of whining? hahaha j/k. You are totally right. It's never a problem until it becomes your own.

For example, I hoof it everywhere I go and couldn't be happier that I don't have to deal with those damn $$$-guzzling machines. If the economy continues to fall though, I'll get all sorts of angry and blame everyone.

I'd just get a bike if I were you. Cars aren't that necessary anyway, unless you have an hour long commute to work with no public transportation available.

Originally posted by Sacreligion

I'd just get a bike if I were you. Cars aren't that necessary anyway, unless you have an hour long commute to work with no public transportation available.

This is exactly why it's a problem, this is the situation in most of America. I live 20 miles from my job and there is no public transportation available. Weather would make a bike ride to work unfeasible for around 4 months of every year. For the remaining 8 months, I would need to convince my employer that it's ok for me to get to work everyday drenched in sweat and stinking which is unlikely.

hence why i said that, but the people who can use alternative methods and should use these methods typically don't. I think the REAL problem is people who just like the luxury of the present and have no vision of the future. there are plenty of ways to free yourself from the reins of oil, but it's understandable when your current situation is irreparable.

Originally posted by BlueTriangle

Originally posted by Sacreligion

I'd just get a bike if I were you. Cars aren't that necessary anyway, unless you have an hour long commute to work with no public transportation available.

This is exactly why it's a problem, this is the situation in most of America. I live 20 miles from my job and there is no public transportation available. Weather would make a bike ride to work unfeasible for around 4 months of every year. For the remaining 8 months, I would need to convince my employer that it's ok for me to get to work everyday drenched in sweat and stinking which is unlikely.

That is why the result of this situation is inevitable. It may take a few more years, or maybe it will be this year, the time is not as certain, but obviously the ending will be the same if things do not change.

nothing is inevitable.

Mod Note: One-Line Responses -- Please Review

[edit on 3-1-2008 by chissler]

Get a sportbike or motorcycle.

It's a lot cheaper to buy fuel for that, I think.

Guys...

In the UK at the moment, with current exchange rates you'd be paying $9.31 a gallon for diesel.

What do you pay at the moment?

You don't realise how lucky you are. Really.

it's not about being lucky, at all. you're taking it as whining, i'm taking it as a catalyst for the nation to start seriously considering converting away from fossil fuels

You honestly want to replace oil bought at $60 per barrel with oil bought at $99.50 per barrel ?

Releasing strategic reserves would very much be a band-aid approach which would do far more harm than good over the medium term..

I mean, here in Aus, we currently pay around AUD $5.60 per gallon which is about $5.70 per gallon US...

Seriously, until you guys get over about $4.50 a gallon for gas, quit bitching and suck it up...

The rest of the world has accepted these prices, you guys need to do the same...

As an aside, the OP is whining on a scale rarely seen on ATS to date...In fact, now that I think about it...Its probably the most whiny selfish post I've seen on ATS to date

All I can say is get used to it...And as I said, releasing any of your strategic reserves in any time apart from a national catastrophe will cause MASSIVE damage to your economy...

ugh...for the third time now...it's not necessarily the price in oil, it's the price in oil in correlation with the already falling economy(the decline of value in the dollar, increasing unemployment rates, devaluation of homes, etc.) that is making things difficult. money doesn't stretch the same as it used to and rising oil prices are making it worse, putting people who were already struggling into an even worse situation. This ends in people running up their debt and unable to take care of themselves or their families. It's a self-perpetuating cycle of debt until America starts producing more products like it did in the mid 1900s when the economy was strong. Now America just prints money it doesn't have and borrows from other countries without having as much of its own products to sell anymore.

The oil is just the tip of the iceberg. Stop hatin'

reply to post by Rilence


Did I say I was whining? No, I didn't think so. I was just posting the story and talking about what the effects could cause. Not everyone is ready for a change in prices. Even if I get over it, which I probably will, or others get over it, there will always be someone that will convince others it is wrong and demand a change.
Before you say someone is whining about prices, read the posts. I merely talked about what effects the prices could cause, if you bothered to read the first post.

[edit on 3-1-2008 by UnforgiveableSin]

reply to post by UnforgiveableSin


stay far away from personal arguments on here. it's a vicious cycle, similar to the way the american economy works. metaphors abound!

reply to post by Sacreligion


I agree, and I apologize. Though I just wanted to clear up to them how idiotic it is not to read into what people are saying, other than the title of the thread.