sell US strategic oil reserve on world market

[dvictr]

comments please

 

[virgil47]

Only if you wish to learn Arabic.

 

[xao]

interesting

 

[AceNZ]

The purpose of the strategic reserve is to act as a buffer in case of supply shortages.

Given the extent of US dependence on oil, having such a buffer seems like a very prudent thing. I guess I don't see a reason to sell, unless it's because the government shouldn't be involved in such things, in which case, yes, I buy that part. I guess I could see privatizing the strategic reserve in some way, although I'm not sure exactly how.

BTW, did you know that the once-extant US grain reserves were sold some time ago? The country now has no food in storage to help in the event of a disruption of supply due to transportation, harvest, disease, etc.

 

[user]

We would get "only" about $65 billion so I don't think it's that big a deal.

 

[idrake]

I don't think so. Even with a humble foreign policy this is still a necessity for basic national defense.

 

[MN Patriot]

I don't think so. Even with a humble foreign policy this is still a necessity for basic national defense.

Yes, one of the main reasons for the strategic oil reserve is to make sure our defense has fuel.

But that didn't stop Slick Willy from selling a lot of it off the fall of 1996, to make sure gas prices stayed low and people didn't have a reason to complain about his administration going into the elections.

 

[murrayrothbard]

Sell it? Why not just return to the individuals that paid for it. Issue ownership shares to all NET TAXPAYERS in proportion to their tax bills. If you don't want your shares of petroleum sell them. Want to have more say in what happens to it? Buy shares.

 

[Visual]

hahaha...noooo....

Unlike most things, the name is rather accurate. It's strategic to have our own oil reserves in case of war. Last thing we need is to be dependent on oil shipped from other countries during war. That's what happened to japan, we just sent subs to attack all their transport ships, and they started bleeding due to lack of resources (not to mention other issues).

 

[Liberty Star]

Sell high now, buy low later? LOL


Unfortunately we don't have the option like arab countries do who are making zillions of dollars by 'selling high, pumping more oil'. Mideastern arab oil exporters , Russia, Iran, Venezuela have been the biggest financial benefactors of high oil prices since start of Iraq war.

 

[Dieseler]

We have less than a 30 day u.s. supply in reserve.
Anwr would take 20 years just to get up to a every day now supply, by then it would be exhausted.
Thats why we have such a vested interest in the middle east.
No middle east, no more fuel.

You wanna start walking to work and back?

 

[nate895]

Give up our oil reserves, wonderful idea!!! Then we can get rid of those pesky artillery shells that only take up space, heck, get rid of the bullets too, and anything that uses any of the above.