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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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gavinON All-Star Author Toronto Posts:562 Points:112,935 Joined:Mar 2012	Message Posted: Apr 30, 2012 1:48:37 PM Ignore gavinON Report Abuse hmmm
FuelGrinch Veteran Author Kansas Posts:272 Points:59,250 Joined:Aug 2005	Message Posted: Apr 30, 2012 1:46:06 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!
iamforiu Champion Author Indiana Posts:3,710 Points:738,465 Joined:May 2011	Message Posted: Apr 30, 2012 1:44:52 PM Ignore iamforiu Report Abuse good
Holly123 Champion Author Charlotte Posts:3,332 Points:816,710 Joined:Dec 2010	Message Posted: Apr 30, 2012 1:43:22 PM Ignore Holly123 Report Abuse Thanks.
nimpy Champion Author Indianapolis Posts:8,270 Points:1,727,830 Joined:Oct 2007	Message Posted: Apr 30, 2012 1:41:59 PM Ignore nimpy Report Abuse It really doesn't help reduce the price at all
ctcowboy Sophomore Author Connecticut Posts:198 Points:42,920 Joined:Aug 2011	Message Posted: Apr 30, 2012 1:40:47 PM Ignore ctcowboy Report Abuse ok
Z51Corvette Champion Author Austin Posts:8,602 Points:1,697,210 Joined:Jan 2008	Message Posted: Apr 30, 2012 1:39:26 PM Ignore Z51Corvette Report Abuse Too many agencies.... cut the bureaucracy and improve the efficiency and price comes, DOWN!!!
BobbyVA Champion Author Virginia Beach Posts:5,627 Points:1,200,830 Joined:Jul 2009	Message Posted: Apr 30, 2012 1:37:36 PM Ignore BobbyVA Report Abuse This idea was pushed by the liberal Obama Dems and it didn't make any difference except for four days oil came down sightly. Our Strategic Oil Reserves are for national emergencies, not high priced fuel.
nemoFL Champion Author Florida Posts:8,936 Points:1,637,000 Joined:Oct 2008	Message Posted: Apr 30, 2012 1:34:16 PM Ignore nemoFL Report Abuse thats good isnt it
streetcars Champion Author Toledo Posts:12,404 Points:2,634,340 Joined:Apr 2005	Message Posted: Apr 30, 2012 1:32:35 PM Ignore streetcars Report Abuse Not enough storage in the US market to hold what is in the "pipeline" now.
greshams Champion Author Cincinnati Posts:2,146 Points:402,355 Joined:Nov 2011	Message Posted: Apr 30, 2012 1:31:22 PM Ignore greshams Report Abuse they just want gas to be $4.00 a gal.
carefrey Champion Author Orlando Posts:5,665 Points:1,185,235 Joined:Sep 2009	Message Posted: Apr 30, 2012 1:28:18 PM Ignore carefrey Report Abuse Why?????
DancingDee Champion Author Gary Posts:4,417 Points:1,061,850 Joined:Jul 2005	Message Posted: Apr 30, 2012 1:27:36 PM Ignore DancingDee Report Abuse That's too bad.
Bonanza Champion Author Boston Posts:12,248 Points:2,577,730 Joined:Jun 2004	Message Posted: Apr 30, 2012 1:27:04 PM Ignore Bonanza Report Abuse Supply seems to have no effect on pricing
marlita Champion Author Dayton Posts:3,320 Points:787,240 Joined:Mar 2010	Message Posted: Apr 30, 2012 1:25:30 PM Ignore marlita Report Abuse I just don't get it we are wasting oil by letting it just sit in stockpiles while people are paying sky high prices for gas what is wrong with this picture.
SUSANCK Champion Author Chicago Posts:3,777 Points:731,230 Joined:Apr 2011	Message Posted: Apr 30, 2012 1:24:52 PM Ignore SUSANCK Report Abuse Not if obummer wants to get re-elected!
SavinOnFuel Champion Author Gary Posts:1,967 Points:1,272,905 Joined:Nov 2007	Message Posted: Apr 30, 2012 1:22:38 PM Ignore SavinOnFuel Report Abuse I'll wait and see
MrLuigi Champion Author Massachusetts Posts:4,908 Points:993,410 Joined:Jun 2005	Message Posted: Apr 30, 2012 1:20:04 PM Ignore MrLuigi Report Abuse Pete12's got it right!
Kaiyne Champion Author Chicago Posts:2,475 Points:499,440 Joined:Feb 2011	Message Posted: Apr 30, 2012 1:18:41 PM Ignore Kaiyne Report Abuse Good.
07skydriver Champion Author Ohio Posts:3,374 Points:1,009,305 Joined:Feb 2009	Message Posted: Apr 30, 2012 1:18:28 PM Ignore 07skydriver Report Abuse Just stay home.
vincentV All-Star Author Toronto Posts:652 Points:137,305 Joined:Oct 2010	Message Posted: Apr 30, 2012 1:18:25 PM Ignore vincentV Report Abuse wow
Pete12 Champion Author Albany Posts:4,918 Points:1,659,880 Joined:Nov 2005	Message Posted: Apr 30, 2012 1:17:46 PM Ignore Pete12 Report Abuse Now if they would refine more gas maybe we could bring the excess supply of oil down a bit and lower gas prices at the same time.
29louieson Veteran Author Phoenix Posts:310 Points:158,000 Joined:Mar 2012	Message Posted: Apr 30, 2012 1:17:00 PM Ignore 29louieson Report Abuse Obviously the price AIN'T high enough !
tex_mex13 All-Star Author Austin Posts:630 Points:278,380 Joined:Jul 2011	Message Posted: Apr 30, 2012 1:16:27 PM Ignore tex_mex13 Report Abuse Save it for later !
armey Champion Author Oregon Posts:1,296 Points:310,555 Joined:Aug 2008	Message Posted: Apr 30, 2012 1:16:22 PM Ignore armey Report Abuse Thats not good!
CPGas1815 Champion Author Michigan Posts:6,034 Points:1,101,695 Joined:Apr 2008	Message Posted: Apr 30, 2012 1:15:21 PM Ignore CPGas1815 Report Abuse So when are we going to see affordable gas prices?
marinedad1949 Champion Author Lancaster Posts:2,627 Points:530,170 Joined:Nov 2011	Message Posted: Apr 30, 2012 1:15:10 PM Ignore marinedad1949 Report Abuse Less talk and more action is needed!
JENNYHK Champion Author Chicago Posts:3,776 Points:739,320 Joined:Apr 2011	Message Posted: Apr 30, 2012 1:14:00 PM Ignore JENNYHK Report Abuse Can't touch this.
BrizzyRyan Rookie Author Winnipeg Posts:1 Points:1,375 Joined:Apr 2012	Message Posted: Apr 30, 2012 1:11:31 PM Ignore BrizzyRyan Report Abuse ya
caddilac Champion Author Ontario Posts:16,749 Points:2,166,430 Joined:Apr 2007	Message Posted: Apr 30, 2012 1:11:04 PM Ignore caddilac Report Abuse Yawn.
EmperorsFinest Champion Author Chicago Posts:1,564 Points:340,870 Joined:Jul 2011	Message Posted: Apr 30, 2012 1:08:15 PM Ignore EmperorsFinest Report Abuse Be prepared.
MJIOWA Champion Author Iowa Posts:4,959 Points:1,104,670 Joined:Nov 2009	Message Posted: Apr 30, 2012 1:03:29 PM Ignore MJIOWA Report Abuse very smart
FOURXFOUR Champion Author Boston Posts:2,516 Points:1,265,855 Joined:Aug 2005	Message Posted: Apr 30, 2012 1:02:45 PM Ignore FOURXFOUR Report Abuse They need the reserve just to power obama's re-election aircraft (AF-1), oh wait those trips are for national security...wink-wink...
RAKARWOWSKI Champion Author Chicago Posts:4,135 Points:847,750 Joined:Jan 2011	Message Posted: Apr 30, 2012 1:02:06 PM Ignore RAKARWOWSKI Report Abuse Now more than ever.
byoftDad Champion Author Columbus Posts:4,452 Points:1,233,375 Joined:Apr 2005	Message Posted: Apr 30, 2012 12:59:17 PM Ignore byoftDad Report Abuse Good, the reserve should be for a military use only.
speedys Champion Author Utah Posts:7,152 Points:2,585,610 Joined:Nov 2005	Message Posted: Apr 30, 2012 12:54:48 PM Ignore speedys Report Abuse We have oil we just need more refineres and less speculators.
putz247 Champion Author Ohio Posts:2,300 Points:525,210 Joined:Aug 2011	Message Posted: Apr 30, 2012 12:53:53 PM Ignore putz247 Report Abuse ugh
grammamNV Champion Author Nevada Posts:2,335 Points:372,425 Joined:Mar 2011	Message Posted: Apr 30, 2012 12:52:02 PM Ignore grammamNV Report Abuse ok then
032946 Champion Author Twin Cities Posts:19,999 Points:4,070,770 Joined:Oct 2001	Message Posted: Apr 30, 2012 12:51:59 PM Ignore 032946 Report Abuse With demand down that is a no Brainer!!
BigBob12345 Champion Author Gasbuddy Posts:1,521 Points:304,730 Joined:Aug 2011	Message Posted: Apr 30, 2012 12:47:41 PM Ignore BigBob12345 Report Abuse so it goes
liz72601 Rookie Author Arkansas Posts:48 Points:171,685 Joined:Sep 2011	Message Posted: Apr 30, 2012 12:37:22 PM Ignore liz72601 Report Abuse so we suffer more
jimbo1867 Champion Author Arizona Posts:5,512 Points:2,082,250 Joined:Apr 2005	Message Posted: Apr 30, 2012 12:32:06 PM Ignore jimbo1867 Report Abuse lol dougtaylor1
Babe4 Champion Author Flint Posts:13,274 Points:2,530,545 Joined:Sep 2005	Message Posted: Apr 30, 2012 12:28:35 PM Ignore Babe4 Report Abuse Good one, dougtaylor1
dougtaylor1 Champion Author Phoenix Posts:1,781 Points:457,150 Joined:Jun 2011	Message Posted: Apr 30, 2012 12:26:09 PM Ignore dougtaylor1 Report Abuse Liar, liar, pants on fire. How do you tell if obumer is lying. his lips are moving.
HockeyLady Champion Author New Jersey Posts:5,568 Points:2,105,820 Joined:Jun 2005	Message Posted: Apr 30, 2012 12:24:18 PM Ignore HockeyLady Report Abuse good
RAC110 Champion Author Massachusetts Posts:6,052 Points:1,872,330 Joined:Mar 2003	Message Posted: Apr 30, 2012 12:23:26 PM Ignore RAC110 Report Abuse all of the news about great amounts of oil and plenty of ways to get it should be getting lower prices for the oil
OKRifle Champion Author Oklahoma City Posts:10,577 Points:1,837,010 Joined:Oct 2007	Message Posted: Apr 30, 2012 12:22:54 PM Ignore OKRifle Report Abuse Don't need to!
Mowerman08 Champion Author Milwaukee Posts:4,878 Points:1,243,255 Joined:Aug 2008	Message Posted: Apr 30, 2012 12:22:37 PM Ignore Mowerman08 Report Abuse at least until it can be loaded on a tanker for export
humblepie Champion Author Toledo Posts:35,301 Points:2,398,095 Joined:Mar 2006	Message Posted: Apr 30, 2012 12:21:39 PM Ignore humblepie Report Abuse just more liberal stupidity
Tomeboy Champion Author Twin Cities Posts:3,905 Points:586,390 Joined:Apr 2009	Message Posted: Apr 30, 2012 12:13:28 PM Ignore Tomeboy Report Abuse Algernon... you must have forgot to read the General Forum Guidelines. From GasBuddy.com General Forum Guidelines -------------------------------------------- It states: In an effort to keep political discussions separate from other discussion, please post your messages in the US Politics forum, or the Canada Politics forum. [Edited by: Tomeboy at 4/30/2012 3:14:13 PM EST]
downstream Champion Author Little Rock Posts:1,136 Points:1,416,730 Joined:Mar 2006	Message Posted: Apr 30, 2012 12:12:36 PM Ignore downstream Report Abuse yeah lsu, obama... want a cookie?
LSU_TIGERS_dmb Champion Author Louisiana Posts:1,720 Points:644,165 Joined:May 2011	Message Posted: Apr 30, 2012 12:10:38 PM Ignore LSU_TIGERS_dmb Report Abuse Obama will do anything to fool the people in the US so he can get in for another 4 years. DON't buy into his BS.. VOTE HIM OUT IN November.. Time for a new president in the WH