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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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downstream Champion Author Little Rock Posts:1,108 Points:1,391,170 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:1,714 Points:619,770 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
deaconjones Champion Author Cleveland Posts:2,129 Points:318,705 Joined:May 2006	Message Posted: Apr 30, 2012 12:09:12 PM Ignore deaconjones Report Abuse GOOD IDEA.....
grandamgt1 Champion Author Illinois Posts:2,336 Points:1,238,650 Joined:Apr 2008	Message Posted: Apr 30, 2012 12:07:12 PM Ignore grandamgt1 Report Abuse the last time they did this, the results lasted 2 days.
dasAuto All-Star Author Regina Posts:713 Points:505,345 Joined:Jan 2009	Message Posted: Apr 30, 2012 12:06:33 PM Ignore dasAuto Report Abuse Emergency stockpiles for emergencies only!
honkerman Champion Author San Jose Posts:44,237 Points:2,396,120 Joined:Jul 2004	Message Posted: Apr 30, 2012 12:04:42 PM Ignore honkerman Report Abuse Oil stockpiles should remain untapped. Obama's reelection is not a national emergency to anyone but him and his cronies.
DTroytNC Veteran Author Charlotte Posts:366 Points:62,510 Joined:Jan 2012	Message Posted: Apr 30, 2012 12:04:15 PM Ignore DTroytNC Report Abuse Oil stockpiles are finite. They can only influence prices briefly. They should be reserved for crisis (temporary lose of oil from suppliers).
gils Champion Author Ohio Posts:1,696 Points:643,700 Joined:Feb 2011	Message Posted: Apr 30, 2012 11:56:44 AM Ignore gils Report Abuse ok
molebaby96 Champion Author Tallahassee Posts:2,121 Points:504,415 Joined:Nov 2011	Message Posted: Apr 30, 2012 11:55:53 AM Ignore molebaby96 Report Abuse Short-term fix.
Algernon Champion Author Greensboro Posts:3,190 Points:783,995 Joined:May 2004	Message Posted: Apr 30, 2012 11:54:23 AM Ignore Algernon Report Abuse Vote Obama out in 2012!!!!!!!!!!!!!!!!!!
Tomeboy Champion Author Twin Cities Posts:3,764 Points:558,690 Joined:Apr 2009	Message Posted: Apr 30, 2012 11:53:02 AM Ignore Tomeboy Report Abuse The markets have adjusted the price... higher!! It's the consumer that has not adjusted to the high prices.
f4driver Champion Author Maine Posts:2,520 Points:684,320 Joined:Aug 2007	Message Posted: Apr 30, 2012 11:52:10 AM Ignore f4driver Report Abuse Don't hold yer breath on that.
ciimike Champion Author Nevada Posts:4,638 Points:1,062,060 Joined:Aug 2005	Message Posted: Apr 30, 2012 11:48:18 AM Ignore ciimike Report Abuse Didn't work before. What makes them think it will work this time. Companies just bought the oil at low cost, and stored it until the prices raised enough to make distribution profitable.
GTSHELBY All-Star Author Ottawa Posts:553 Points:954,525 Joined:Mar 2010	Message Posted: Apr 30, 2012 11:46:44 AM Ignore GTSHELBY Report Abuse Can't wait to hear an oversurplus and they have to get rid of it.
netman044 Champion Author Texas Posts:6,848 Points:1,288,275 Joined:Sep 2005	Message Posted: Apr 30, 2012 11:46:38 AM Ignore netman044 Report Abuse Utilization of energy reserves has never brought more than temporary relief from high prices.
Panama Red Champion Author San Diego Posts:11,067 Points:2,497,315 Joined:Jun 2004	Message Posted: Apr 30, 2012 11:45:50 AM Ignore Panama Red Report Abuse Oil stockpiles should be tapped only in the event of true emergencies; high gasoline prices are painful, but not a true emergency.
madison8359 Champion Author Cleveland Posts:9,012 Points:1,592,320 Joined:Apr 2008	Message Posted: Apr 30, 2012 11:43:43 AM Ignore madison8359 Report Abuse We have lots of oil the problem is that it is high in price despite the economy and the supply.
CrappieFool All-Star Author Alabama Posts:785 Points:568,520 Joined:Apr 2009	Message Posted: Apr 30, 2012 11:42:39 AM Ignore CrappieFool Report Abuse ok [Edited by: CrappieFool at 4/30/2012 2:43:36 PM EST]
19sheldon43 Champion Author Los Angeles Posts:3,979 Points:843,010 Joined:Jul 2009	Message Posted: Apr 30, 2012 11:42:25 AM Ignore 19sheldon43 Report Abuse The high cost of fuel is not considered an emergency. See if you can't get your mind around that
jjw0608 Champion Author Milwaukee Posts:6,869 Points:1,700,055 Joined:Nov 2005	Message Posted: Apr 30, 2012 11:41:31 AM Ignore jjw0608 Report Abuse We need to keep a reserve.
JXQW Champion Author Kansas City Posts:2,787 Points:683,425 Joined:Jul 2008	Message Posted: Apr 30, 2012 11:41:24 AM Ignore JXQW Report Abuse that is probably not the best way to do it in long run ...
js0743 All-Star Author Georgia Posts:981 Points:457,880 Joined:Nov 2011	Message Posted: Apr 30, 2012 11:38:56 AM Ignore js0743 Report Abuse Let the markets prevail.
rodzilla123 Champion Author San Diego Posts:4,395 Points:1,033,390 Joined:Jul 2008	Message Posted: Apr 30, 2012 11:37:09 AM Ignore rodzilla123 Report Abuse The Governments need to get out of the way and ley the Market adjust the prices. Markets know much better than the Government how to do this. NO MORE MEDDLING and Politics with Energy!!!!
heydano67 Champion Author California Posts:1,661 Points:357,435 Joined:Feb 2012	Message Posted: Apr 30, 2012 11:34:22 AM Ignore heydano67 Report Abuse Save them for emergencies only, as they were intended.
mastermariner Champion Author Texas Posts:4,247 Points:493,010 Joined:Jun 2011	Message Posted: Apr 30, 2012 11:33:55 AM Ignore mastermariner Report Abuse What with the UK in a second recession and Spain soon to follow there will be more oil available.
TKAP Champion Author North Carolina Posts:1,415 Points:410,235 Joined:Aug 2006	Message Posted: Apr 30, 2012 11:31:21 AM Ignore TKAP Report Abuse wow,not so bad
goodbuy Champion Author Michigan Posts:7,663 Points:1,421,005 Joined:May 2005	Message Posted: Apr 30, 2012 11:25:56 AM Ignore goodbuy Report Abuse Why do we need to tap into stockpiles. We have it sitting in ships and not able to unload it. OBAMA 2012!!
NashGas Champion Author Nashville Posts:3,089 Points:663,180 Joined:Dec 2009	Message Posted: Apr 30, 2012 11:16:46 AM Ignore NashGas Report Abuse Good.
11SilveradoMN Champion Author Minnesota Posts:1,221 Points:338,380 Joined:Aug 2011	Message Posted: Apr 30, 2012 11:15:48 AM Ignore 11SilveradoMN Report Abuse No surprise
Toppers Champion Author Atlanta Posts:9,007 Points:2,469,720 Joined:Mar 2005	Message Posted: Apr 30, 2012 11:04:00 AM Ignore Toppers Report Abuse Don't see it
mikerroy Champion Author Albuquerque Posts:2,561 Points:719,945 Joined:May 2005	Message Posted: Apr 30, 2012 11:01:58 AM Ignore mikerroy Report Abuse Just the threat of releasing strategic oil drives the price down
regasaz Champion Author Phoenix Posts:5,775 Points:1,280,880 Joined:Dec 2006	Message Posted: Apr 30, 2012 10:59:53 AM Ignore regasaz Report Abuse Past time for an Administration change, need to get this country moving forward once again.
sparky808 Champion Author Honolulu Posts:2,993 Points:597,535 Joined:Sep 2011	Message Posted: Apr 30, 2012 10:58:19 AM Ignore sparky808 Report Abuse Thank you for posting.
letterchunker Champion Author Texas Posts:2,240 Points:666,700 Joined:Aug 2008	Message Posted: Apr 30, 2012 10:58:00 AM Ignore letterchunker Report Abuse They don't want to drive down prices this summer
Bubba44612 Champion Author Ohio Posts:7,386 Points:1,875,880 Joined:Aug 2005	Message Posted: Apr 30, 2012 10:55:18 AM Ignore Bubba44612 Report Abuse Out law excessive speculation.
cehend Champion Author Maryland Posts:1,725 Points:461,525 Joined:Jan 2011	Message Posted: Apr 30, 2012 10:54:53 AM Ignore cehend Report Abuse Well this is not a good thing.
vegan_power Sophomore Author Hartford Posts:126 Points:51,030 Joined:Feb 2012	Message Posted: Apr 30, 2012 10:54:00 AM Ignore vegan_power Report Abuse great &^@#*(!
AriesMMD Champion Author Sacramento Posts:1,486 Points:411,240 Joined:Dec 2011	Message Posted: Apr 30, 2012 10:51:57 AM Ignore AriesMMD Report Abuse Isn't it interesting that by trying to strong arm Iran into giving up the nuclear program the Government has caused the price they receive for oil to go up. I think they need less punishment and lower income. Someone (China or India amybe) will buy the oil we shun.
67yenko Champion Author Mississippi Posts:1,165 Points:360,505 Joined:Jan 2011	Message Posted: Apr 30, 2012 10:51:48 AM Ignore 67yenko Report Abuse their is so much oil here we could flood the market.... of course its going to stay in the warehouse and under ground...
suzyq2007 Champion Author Dallas Posts:7,164 Points:1,649,950 Joined:Oct 2007	Message Posted: Apr 30, 2012 10:51:25 AM Ignore suzyq2007 Report Abuse this is not something we need to do
quattro02 Champion Author Twin Cities Posts:2,514 Points:192,185 Joined:Nov 2003	Message Posted: Apr 30, 2012 10:49:04 AM Ignore quattro02 Report Abuse When investors (i.e. specu-traitors) manipulate the price, releasing oil from reserves will have little lasting affect on prices.
buffaloski Veteran Author Indiana Posts:326 Points:1,681,320 Joined:Sep 2005	Message Posted: Apr 30, 2012 10:46:07 AM Ignore buffaloski Report Abuse Interesting article
gasper Champion Author Edmonton Posts:4,485 Points:1,368,310 Joined:Mar 2002	Message Posted: Apr 30, 2012 10:44:15 AM Ignore gasper Report Abuse Big brother has his hand in this and we can not stop buying fuel to get to work and back. Changes are needed to make living easier to handle.
rickone All-Star Author Detroit Posts:545 Points:392,685 Joined:May 2004	Message Posted: Apr 30, 2012 10:43:48 AM Ignore rickone Report Abuse Interesting - Thanks for posting.
dynamouse Champion Author Michigan Posts:4,503 Points:1,749,850 Joined:Dec 2006	Message Posted: Apr 30, 2012 10:43:41 AM Ignore dynamouse Report Abuse obama is the reason. obama stopped the drilling on fed land, and the gulf, stopped the pipe line. wasted all our money on green technology. wanted gas at $5-6 a gal as hes said many time all of his people have said this until it might cost him the election. lets get rid of obama and go back to $1.74 like it was before obama
animal_rights Sophomore Author Hartford Posts:117 Points:46,150 Joined:Feb 2012	Message Posted: Apr 30, 2012 10:42:22 AM Ignore animal_rights Report Abuse craptastic
fullauto Champion Author Reading Posts:5,312 Points:1,471,030 Joined:Apr 2008	Message Posted: Apr 30, 2012 10:39:57 AM Ignore fullauto Report Abuse frugal rates- stored in ground.
Go_E85 Champion Author Orange County Posts:2,223 Points:174,355 Joined:Dec 2007	Message Posted: Apr 30, 2012 10:35:51 AM Ignore Go_E85 Report Abuse ...
Kato51 Champion Author Atlanta Posts:7,260 Points:2,163,790 Joined:Jul 2005	Message Posted: Apr 30, 2012 10:35:46 AM Ignore Kato51 Report Abuse A political ploy. It stinks.
spunky4443 Champion Author Washington Posts:5,281 Points:1,329,695 Joined:May 2005	Message Posted: Apr 30, 2012 10:30:36 AM Ignore spunky4443 Report Abuse With the high price of fuel, I would imagine that there is an over abundance of Oil.
HKL All-Star Author Wilmington Posts:639 Points:359,430 Joined:Oct 2010	Message Posted: Apr 30, 2012 10:29:45 AM Ignore HKL Report Abuse ok
IMLURCH Champion Author Minnesota Posts:2,179 Points:1,102,205 Joined:Mar 2009	Message Posted: Apr 30, 2012 10:29:19 AM Ignore IMLURCH Report Abuse When full sanctions take effect the oil companies will raise prices claiming the shortage of oil but as we have seen in the last few months with countries already cutting back on Iran exports prices have been coming down. Oil companies will claim consumers panic will raise the prices to gouge our pockets more when most of their hype is CRAP.