One quick fix

[kilroy2963]

How about releasing 50 million Barrels from the Strategic Petroleum Reserve. Mr. Bush only had it filled to capacity in 2001 to 700 million barrels, I think that would provide some relief for a while. What the hell do we have the reserve anyhow for in the 1st place?? Clinton did it, and it brought the prices down, but not Big Oil Mr. Bush!! He would rather see people suffer and go broke!!

[danc694u]

This has been pounded to death.

Rather than do it all again...here's a link for you. A few FACTS about oil reserves.

[LINK POSTED BY MEMBER] Only Members Can View This Truck Forum Link.

[kilroy2963]

A strategic reserve is a well that has been capped. Or a known area of oil that may or may not have even been drilled yet.

I dont know where you get this from?? Its not a well or pocket that hasnt been drilled, it makes no sense.

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This is physical oil that we have stored in tanks around the country.

[kilroy2963]

Facilities

The SPR management office is located in New Orleans, Louisiana.
The reserve is stored at four sites on the [LINK POSTED BY MEMBER] Only Members Can View This Truck Forum Link. , each located near a major center of petrochemical refining and processing. Each site contains a number of artificial caverns created in [LINK POSTED BY MEMBER] Only Members Can View This Truck Forum Link. below the surface. (Note: Capacity numbers may be out of date.)

• Bryan Mound - Freeport, Texas. Has a capacity of 226 million barrels (36,000,000 m³).
• Big Hill - Winnie, Texas. Has a capacity of 160 million barrels (25,000,000 m³).
• West Hackberry - Lake Charles, Louisiana. Has a capacity of 219 million barrels (35,000,000 m³).
• Bayou Choctaw - Baton Rouge, Louisiana. Has a capacity of 72 million barrels (11,000,000 m³).
• Richton, Mississippi. In February 2007, Secretary of the Energy Department [LINK POSTED BY MEMBER] Only Members Can View This Truck Forum Link. announced the creation of a new site. This new site is currently facing some opposition.
• Weeks Island - Iberia Parish, Louisiana (Decommissioned 1999) Capacity of 72 million barrels (11,000,000 m³). This facility was a conventional room and pillar near-surface mine salt mine, formerly owned by Morton Salt. In 1993, a sinkhole formed on the site, allowing fresh water to intrude into the mine.

Individual caverns within a site can be up to 1000 m below the surface, average dimensions are 60 m wide and 600 m deep, and capacity ranges from 6 to 30 million barrels (1 to 5 million m³). Almost $4 billion was spent on the facilities. The decision to store in caverns was taken to reduce costs; the Dept. of Energy claims it is roughly 10 times cheaper to store oil below surface with the added advantages of no leaks and a constant natural churn of the oil due to a temperature gradient in the caverns. The caverns were created by drilling down and then dissolving the salt with water.
Because of the mine's construction in salt deposits, fresh water would erode the ceiling, potentially causing the structure to fail. The mine was backfilled with salt-saturated [LINK POSTED BY MEMBER] Only Members Can View This Truck Forum Link. . This process, which allowed for recovery of 98% of the petroleum stored in the facility, reduced the risk of further freshwater intrusion, and helped prevent the remaining oil from leaking into the [LINK POSTED BY MEMBER] Only Members Can View This Truck Forum Link. that is located over the salt dome.

[danc694u]

Originally Posted by kilroy2963

I dont know where you get this from?? Its not a well or pocket that hasnt been drilled, it makes no sense.

[LINK POSTED BY MEMBER] Only Members Can View This Truck Forum Link.
This is physical oil that we have stored in tanks around the country.

At that is incorrect. Both post. While the article itself is true in a sense. It is incomplete, and inaccurate. See below the quote.

???This article has not yet received a rating on the [LINK POSTED BY MEMBER] Only Members Can View This Truck Forum Link. . [LINK POSTED BY MEMBER] Only Members Can View This Truck Forum Link. ???This article has not yet received an [LINK POSTED BY MEMBER] Only Members Can View This Truck Forum Link. within energy

Strategic reserves, like "fresh" supplies that are being brought into the country, must be refined. We are currently running refineries at 110%+, and unless MORE refineries are built, the actual output will remain below current and future demands.

While the Federal Government may actually own these "reserves". They do not own the refineries. Releasing the "reserves" below market value is the same as welfare.

"Reserves" of the nature you spoke of in the WiKi article, are tapped on a daily basis for use by the oil industry. You can't have duplication of holding areas this big, they mearly keep levels to agreed amounts. If you'll note the location of these "reserves". You'll see how it works, hand in hand with our current refineries.

So, the reserves you noted are used every day. They are replenished, everyday. But they are not the "true" reserves. They are mearly staging areas for pumped crude oil.

And while they may be refered to a "Strategic" there's nothing strategic about having a target painted on your ###.

You might as well paint a target on those holding areas. Because that is what they are.

[kilroy2963]

I dont know about that, I understand Wiki isn't always correct, but I read basically the same thing at the DOE website. According to the DOE, with a emergency order by the President the DOE can begin delivering oil into the market place within 13 days.
What your saying and what I'm reading are in total conflict of each other. Some links in conjunction with what your saying would be helpful in order to read more in depth about the subject.

[LINK POSTED BY MEMBER] Only Members Can View This Truck Forum Link.

Strategic Petroleum Reserve -
Quick Facts and Frequently Asked Questions

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[freightmaster]

Originally Posted by kilroy2963

How about releasing 50 million Barrels from the Strategic Petroleum Reserve. Mr. Bush only had it filled to capacity in 2001 to 700 million barrels, I think that would provide some relief for a while. What the hell do we have the reserve anyhow for in the 1st place?? Clinton did it, and it brought the prices down, but not Big Oil Mr. Bush!! He would rather see people suffer and go broke!!

Billions of gallons of oil in North Dakota, Montana
Geological Survey calls find largest reserves outside Alaska
Posted: April 13, 2008
10:31 pm Eastern

By Jerome R. Corsi
© 2008 WorldNetDaily

A shale formation stretching North Dakota and Montana may have an estimated 3 to 4.3 billion barrels of technically recoverable oil, according to a [LINK POSTED BY MEMBER] Only Members Can View This Truck Forum Link. .

Known as the Bakken Formation, the find would make the recoverable oil in North Dakota and Montana the largest U.S. [LINK POSTED BY MEMBER] Only Members Can View This Truck Forum Link. outside Alaska.

Map of Bakken Formation in northern United States, courtesy Grand Forks Herald


The recently released assessment shows a 2,800 percent, or 28-times increase in the amount of oil recoverable from the Bakken Formation, compared to the agency's 1995 estimate of 151 million barrels of oil.


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Killroy, Check this link and it will really make you wonder what the hell is going on? Why are we paying 4.00 a gallon for fuel?

[LINK POSTED BY MEMBER] Only Members Can View This Truck Forum Link.

[kilroy2963]

I read about that a while back. I personally think this is nothing more then price gouging by big oil. If you read about the oil reserves around the world it would blow your mind!! We have enough oil in the Strategic Reserve to last a year, but they wont release not one barrel.

[danc694u]

Originally Posted by kilroy2963

I dont know about that, I understand Wiki isn't always correct, but I read basically the same thing at the DOE website. According to the DOE, with a emergency order by the President the DOE can begin delivering oil into the market place within 13 days.
......snipped......

What you say above is correct. BUT, we are going to have to agree to disagree. Too many reasons to go into complete detail. WiKI being the least of those reasons.

13 days, is a no brainer. You simply pull "company" reserves offline. Mark it Government reserves, sell it below market value...simple enough.

The oil companies STILL make money. They couldn't care less WHO'S oil they are refining. They still charge to refine it. They still charge to deliver it. They still charge to sell it.

As I'm sure there are many ex oil field hands on this board (as I am). I'm sure, that 95% of us witnessed first hand, the capping of oil wells that were "called" dry holes. aka True Strategic Reserves

[kilroy2963]

I will agree with you that a *true* reserve is a capped oil well or a untapped deposit. I also believe the fact that we have up to 700million BBL of oil stock piled in these salt mines and such. Whichever way you look at it, if 50 million BBL were released into that market at below cost, it would bring prices down and stabilize the economy.
Until we see the passing of the Bush administration, it is highly unlikely you will see that happen.
The only candidate running for President that so far has addressed this is Mccain.
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