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Politics : Formerly About Advanced Micro Devices

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To: Road Walker who wrote (246889)	8/21/2005 10:36:02 PM
From: combjelly	Read Replies (1) of 1571702

While not related to your post, I found this interesting... Q: What can the government do? A: There is little either the White House or Congress can do that will reduce gasoline and other energy prices significantly in the short run, most analysts say. President Bush has said he wishes he had a magic wand to lower prices, but he has few options that would significantly increase crude oil supplies or reduce demand. Q: Doesn't the government have an emergency oil stockpile? A: The Strategic Petroleum Reserve contains nearly 700 million barrels of oil that could be made available at the rate of 4 million barrels a day, about a fifth of daily demand. Some congressional Democrats have urged Bush to use the SPR oil to try to ease prices. The White House says the oil is to be used only in response to a disruption of imports. Q: The Energy Department is diverting oil to fill the reserve. Doesn't that add to the tight market and high prices? A: The Energy Department has steadily been putting oil from federal fields into the reserve instead of allowing it to flow into the market. It will add another 700,000 barrels this month, bringing the total to the reserve's current maximum capacity. Administration officials say that amount of oil would have no significant impact on oil markets. Q: Congress just passed a broad energy bill that Bush signed into law. Does it contain anything that might ease the pain at the pump? A: The bill generally ignores the current oil and gas price crunch. Bush and congressional leaders say the law is aimed at giving the country a more diversified mix of energy sources by spurring expansion of nuclear power, clean coal technology and renewable sources such as wind power. It will do little if anything to affect demand for oil, especially in transportation. hosted.ap.org Why do I feel a need to buy some Prep. H?

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