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Politics : Foreign Affairs Discussion Group

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To: Keith Feral who wrote (185646)	4/26/2006 8:20:35 AM
From: jttmab	Read Replies (2) of 281500

There is not enough ethanol, according to the refineries. The relaxation of ethanol standards will prevent shortages of gasoline this summer. Of course, I am only going by the comments being made on cnbc. However, the distribution of ehtanol is very ineefiecient right now as it is delivered via trucks and ril cars. No pipelines yet. I think the governement is going to make sure they make every effort to make gas available without any shortages this summer. I certainly agree that distribution of ethanol is inefficient. But Bush is allegedly reponding to high gas/oil prices not a real supply issue. "Analysts and industry officials said occasional shortages are possible for the next few weeks, though they emphasized that the problem has more to do with delivery schedules than a dearth of fuel." boston.com Remember this? "Bush is trying to walk a fine line with gasoline prices. Two years ago, when Democratic presidential candidate John F. Kerry suggested suspending purchases for the Strategic Petroleum Reserve, Bush responded, "We will not play politics with the Strategic Petroleum Reserve," which he emphasized is solely for "major disruptions of energy supplies."" washingtonpost.com Yet Bush is suspending strategic oil reserve purchases. I don't see any "major disruptions of energy supplies." The current high price of oil/gas is more driven by the perceived fear of disruptions in Iran [due to Bush's saber rattling] and Nigeria. Suspending strategic oil purchases isn't going to change that perception. Strategic oil reserve purchases is a drop in the bucket of world global demand. I would agree that it's a good idea to stop purchasing oil for the strategic reserve but only because it's $70-75/barrel. It's not going to affect near term price of oil. Bush, Frist, and Hastert see the Nov elections are 6 months away. It's panic time. Make it look like they're doing something. Anything. jttmab

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