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Oil Stockpiles Likely to Remain Untapped for Now

The Wall Street Journal -- Prospects have dimmed that major oil consumers in Europe, the U.S. and Asia will drive down prices this summer by collectively making a large injection into the market from emergency oil stockpiles.

Such action, coordinated by the International Energy Agency, looked to be gathering momentum just a month ago following comments from the U.S., U.K. and French government officials. But it has lost some of its political traction and much of its justification, given that supply is up and prices are down without any moves by western governments.

Analysts at the IEA are more confident of adequate oil supply later this year after months of high crude production from Saudi Arabia that will offset any cut in Iranian exports because of the sanctions.

Politically, the odds of IEA action are likely

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Submitted Apr 30, 2012 By: angel4me

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HawaiianGuy Champion Author Idaho Posts:9,665 Points:3,106,590 Joined:May 2003	Message Posted: May 1, 2012 11:15:46 PM Ignore HawaiianGuy Report Abuse The media INSISTS that prices are coming down. Not from where I stand in East Idaho! Prices are up 12 cents in the last week.
sparky808 Champion Author Honolulu Posts:3,144 Points:625,660 Joined:Sep 2011	Message Posted: May 1, 2012 12:26:05 PM Ignore sparky808 Report Abuse Thank you for posting.
DrCashFlow Champion Author Massachusetts Posts:7,204 Points:1,654,785 Joined:Jun 2008	Message Posted: Apr 30, 2012 10:39:07 PM Ignore DrCashFlow Report Abuse good
bevmill Champion Author Georgia Posts:2,721 Points:628,225 Joined:Apr 2006	Message Posted: Apr 30, 2012 9:11:34 PM Ignore bevmill Report Abuse The emergency stock piles should be used for emergencies.
MidNJ Champion Author New Jersey Posts:7,686 Points:1,198,115 Joined:Sep 2009	Message Posted: Apr 30, 2012 8:26:28 PM Ignore MidNJ Report Abuse Jim, "Sometimes just the threat of corrective action is sufficient to change behavior, control greed, and solve a problem." +++++++++++ Very interesting comment!
coughlin Champion Author San Jose Posts:5,324 Points:1,145,340 Joined:Sep 2009	Message Posted: Apr 30, 2012 8:06:49 PM Ignore coughlin Report Abuse The Strategic Oil Reserves should NOT be used to try and lower gas prices.
comprof Champion Author Houston Posts:7,015 Points:1,385,425 Joined:Jul 2009	Message Posted: Apr 30, 2012 7:38:46 PM Ignore comprof Report Abuse Reserves should be left alone.
menagerie1013 Champion Author San Diego Posts:2,365 Points:711,940 Joined:Apr 2011	Message Posted: Apr 30, 2012 6:58:40 PM Ignore menagerie1013 Report Abuse There is no need to tap the reserves. It does nothing to help with prices.
milespergallon Champion Author Illinois Posts:9,890 Points:1,937,035 Joined:Feb 2007	Message Posted: Apr 30, 2012 5:17:09 PM Ignore milespergallon Report Abuse Staying that way because the specu-traitors and bo are being allowed to continue at the rape, pillage and gouge mode that they have been in for entirely TOO LONG!
dieselme2011 Champion Author Vancouver Posts:2,731 Points:629,565 Joined:Mar 2011	Message Posted: Apr 30, 2012 5:15:32 PM Ignore dieselme2011 Report Abuse To bad.
tomok Champion Author Portland Posts:33,600 Points:2,373,210 Joined:Aug 2006	Message Posted: Apr 30, 2012 5:08:10 PM Ignore tomok Report Abuse Oil Stockpiles Likely to Remain Untapped for Now? When the price of fuel is too low and to continue to make Huge Profits, then Big Oil will Not tap their stockpiles or reserves and keep their prices high at the pump to keep gouging the public. This is NOT the government's SPR but Big Oil's crude oil stockpile that they know about, it maybe tapped or Not and is still in the ground. Big Oil continues to sell fuel and natural gas on the world market for higher prices, there will be NO price reduction for the cost of fuel or natural gas IN the US. Barry will support natural gas and oil production for sale on the world market to pay for his ‘spending gone wild’ addiction. The US ‘oil and natural gas resources’ belong to the citizens of this country and are to be used by those same citizens! Speculators, manipulators and the banks continue to unfairly and unjustly make the driving public pay higher prices at the pump for their benefit. Whatever the size or shape of the vehicle, Produce and ‘Drive’ vehicles with high MPG, are very reliable, have a ‘reasonable’ cost and a good ‘value’ for the money. Consider using other forms of less expensive transportation to lower your cost, if possible! The price of fuel at the pump is too high! 12/22/2012!
WIPACKERFAN Champion Author Chicago Posts:8,944 Points:1,871,150 Joined:Aug 2005	Message Posted: Apr 30, 2012 4:54:47 PM Ignore WIPACKERFAN Report Abuse We're doomed.
methaneman Champion Author Minnesota Posts:2,648 Points:1,296,810 Joined:May 2002	Message Posted: Apr 30, 2012 4:54:43 PM Ignore methaneman Report Abuse You can bet come memorial day you are going to see a big jump in prices regardless of what is said.
SoutheastdannyB All-Star Author Grand Rapids Posts:590 Points:581,880 Joined:Jul 2007	Message Posted: Apr 30, 2012 4:49:05 PM Ignore SoutheastdannyB Report Abuse global market; they won't affect pricing.
Beauff Champion Author Cleveland Posts:1,216 Points:623,210 Joined:Sep 2008	Message Posted: Apr 30, 2012 4:44:52 PM Ignore Beauff Report Abuse ok
livedream Champion Author Michigan Posts:3,845 Points:782,760 Joined:Mar 2011	Message Posted: Apr 30, 2012 4:44:45 PM Ignore livedream Report Abuse Smoke & mirrors is right! I agree with Topshopper2011 -- "Very interesting! A lot of smoke and mirrors to gasoline prices!"
Gramps001 Champion Author North Carolina Posts:5,993 Points:1,386,895 Joined:Feb 2007	Message Posted: Apr 30, 2012 4:43:25 PM Ignore Gramps001 Report Abuse Oil Reserves...like spitting in the ocean to create a tsunami!
mycar2 Champion Author Akron Posts:2,204 Points:2,382,270 Joined:Apr 2004	Message Posted: Apr 30, 2012 4:42:43 PM Ignore mycar2 Report Abuse i'm sure the politicians will do the right thing. sarcasm
TelsaOR Champion Author Oregon Posts:3,596 Points:740,215 Joined:Jan 2011	Message Posted: Apr 30, 2012 4:42:23 PM Ignore TelsaOR Report Abuse I'll wait and see.
fire@53 Champion Author Philadelphia Posts:11,968 Points:2,796,025 Joined:May 2003	Message Posted: Apr 30, 2012 4:33:48 PM Ignore fire@53 Report Abuse What part of for emergency do the bureaucrats not understand?
weenerdog Champion Author Detroit Posts:9,596 Points:1,911,615 Joined:Jan 2008	Message Posted: Apr 30, 2012 4:32:07 PM Ignore weenerdog Report Abuse ok
Topshopper2011 Champion Author New Jersey Posts:1,067 Points:291,375 Joined:Aug 2011	Message Posted: Apr 30, 2012 4:31:57 PM Ignore Topshopper2011 Report Abuse Very interesting! A lot of smoke and mirrors to gasoline prices!
JimL1 Champion Author Phoenix Posts:8,319 Points:1,259,470 Joined:Jul 2003	Message Posted: Apr 30, 2012 4:29:08 PM Ignore JimL1 Report Abuse Sometimes just the threat of corrective action is sufficient to change behavior, control greed, and solve a problem.
ItisAJeepThing Champion Author Tucson Posts:20,030 Points:2,179,280 Joined:Oct 2006	Message Posted: Apr 30, 2012 4:26:49 PM Ignore ItisAJeepThing Report Abuse The U.S. is currently pumping more oil than at anytime in the past 8 years and more natural gas than ever before. We need to develop and use more of America's abundant, clean natural gas in the form of Compressed Natural Gas (CNG) as an alternative to oil based fuel. America can become energy independent if we just do it.
SUPERQUACK Champion Author Sacramento Posts:6,247 Points:1,939,005 Joined:Jun 2007	Message Posted: Apr 30, 2012 4:26:43 PM Ignore SUPERQUACK Report Abuse FOR NOW ...... AND MAYBE FOREVER
OGW Champion Author London Posts:5,446 Points:1,558,085 Joined:Sep 2005	Message Posted: Apr 30, 2012 4:22:13 PM Ignore OGW Report Abuse Oil companies want the prices to rise regardless
mplato Champion Author Columbia Posts:8,394 Points:1,843,945 Joined:Jun 2004	Message Posted: Apr 30, 2012 4:18:23 PM Ignore mplato Report Abuse good...not tap them. they are stratigic for one reason and one reason only....obummer keep your hands off
DeHavilland Champion Author Toronto Posts:6,016 Points:1,931,940 Joined:Jun 2007	Message Posted: Apr 30, 2012 4:18:05 PM Ignore DeHavilland Report Abuse We don't need to tap the stockpiles because we have lots of oil, its the refiners who are choking us.
Voltus Champion Author Miami Posts:8,587 Points:1,582,125 Joined:May 2005	Message Posted: Apr 30, 2012 4:16:15 PM Ignore Voltus Report Abuse it won happen (and it shouldn't)... as Socialist François Hollande wins the French presidential election on May 6 (as projected), he opposes that idea supported by Sarkozy...
adgam Champion Author Orange County Posts:2,269 Points:510,295 Joined:Nov 2011	Message Posted: Apr 30, 2012 4:16:09 PM Ignore adgam Report Abuse ok
Prodaddy Champion Author Houston Posts:8,521 Points:1,922,885 Joined:May 2007	Message Posted: Apr 30, 2012 4:15:27 PM Ignore Prodaddy Report Abuse Did anyone think otherwise??
tarheelcoastie Champion Author Greensboro Posts:5,326 Points:1,138,345 Joined:Jan 2009	Message Posted: Apr 30, 2012 4:12:34 PM Ignore tarheelcoastie Report Abuse good!
rippinusoff Champion Author Lexington Posts:7,543 Points:1,515,475 Joined:May 2007	Message Posted: Apr 30, 2012 4:11:54 PM Ignore rippinusoff Report Abuse never permanent
Indy1 All-Star Author Quad Cities Posts:877 Points:822,775 Joined:Apr 2008	Message Posted: Apr 30, 2012 4:10:43 PM Ignore Indy1 Report Abuse Who would have thunk it?
Barfood Champion Author St. Louis Posts:3,368 Points:1,036,675 Joined:Jun 2009	Message Posted: Apr 30, 2012 4:10:00 PM Ignore Barfood Report Abuse I think the bigger bottleneck is refining capacity.
srchr Champion Author San Jose Posts:7,396 Points:1,647,750 Joined:Apr 2008	Message Posted: Apr 30, 2012 4:09:17 PM Ignore srchr Report Abuse too puny to make a prolonged difference anyway
vrossi46 Champion Author San Jose Posts:2,802 Points:830,670 Joined:Oct 2008	Message Posted: Apr 30, 2012 4:05:04 PM Ignore vrossi46 Report Abuse no help for us
Caribou2011 Champion Author Ohio Posts:3,892 Points:795,980 Joined:Feb 2011	Message Posted: Apr 30, 2012 4:03:42 PM Ignore Caribou2011 Report Abuse Sounds bad
danreino Champion Author Twin Cities Posts:8,479 Points:1,565,485 Joined:Mar 2008	Message Posted: Apr 30, 2012 4:03:08 PM Ignore danreino Report Abuse Does anyone, anywhere find this surprising in any way ?
dancygreen Champion Author Twin Cities Posts:2,193 Points:512,345 Joined:Sep 2011	Message Posted: Apr 30, 2012 4:00:45 PM Ignore dancygreen Report Abuse sheesh
happycamper4ID Rookie Author Boise Posts:78 Points:722,665 Joined:Sep 2009	Message Posted: Apr 30, 2012 3:59:11 PM Ignore happycamper4ID Report Abuse ???
nascar8806 Champion Author Oklahoma City Posts:2,518 Points:872,755 Joined:Aug 2010	Message Posted: Apr 30, 2012 3:58:28 PM Ignore nascar8806 Report Abuse bad news
DrLyon Champion Author Michigan Posts:6,769 Points:1,239,365 Joined:May 2006	Message Posted: Apr 30, 2012 3:56:56 PM Ignore DrLyon Report Abuse Would be nice, if reconsidered....
Alfied Champion Author Riverside Posts:8,079 Points:1,783,940 Joined:Jun 2001	Message Posted: Apr 30, 2012 3:55:54 PM Ignore Alfied Report Abuse Politics!
jimgraham Champion Author Akron Posts:10,515 Points:2,008,425 Joined:Oct 2007	Message Posted: Apr 30, 2012 3:53:36 PM Ignore jimgraham Report Abuse When tankers from Alaska go back to pick up their next load - and the still have oil they couldn't deliver in Washington state because the tank farms were full - I don't think there is a supply shortage....
aarrrt Champion Author San Diego Posts:7,389 Points:1,679,705 Joined:May 2008	Message Posted: Apr 30, 2012 3:53:25 PM Ignore aarrrt Report Abuse Leave our reserves alone Mr. President.
altima2008 Champion Author Philadelphia Posts:8,305 Points:1,765,690 Joined:Apr 2008	Message Posted: Apr 30, 2012 3:52:02 PM Ignore altima2008 Report Abuse Until we get nobama out of office in November don't expect him to go out of his way to help out the American people. Him and his selfish wife are in it for themselves.
ChuckGVT Champion Author Vermont Posts:6,833 Points:1,720,675 Joined:Apr 2008	Message Posted: Apr 30, 2012 3:49:19 PM Ignore ChuckGVT Report Abuse If nobama uses the Strategic Reserve it will be just another political ploy. Must be hard to play politics for most of your life.
gavinON All-Star Author Toronto Posts:562 Points:112,935 Joined:Mar 2012	Message Posted: Apr 30, 2012 3:48:37 PM Ignore gavinON Report Abuse hmmm
FuelGrinch Veteran Author Kansas Posts:272 Points:59,250 Joined:Aug 2005	Message Posted: Apr 30, 2012 3:46:06 PM Ignore FuelGrinch Report Abuse Some stories say $4 to %5 by this summer. Now this story says they are going to push prices down. Don't know who to beleive now days. Good luck to pushing prices down.....if you can!