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Senators Propose Tying Strategic Oil Reserve, Keystone XL

Business Week -- Senate Republicans introduced legislation that would bar the Obama administration from using the U.S. Strategic Petroleum Reserve unless TransCanada Corp.’s Keystone XL pipeline is approved.

The bill, preventing President Obama from releasing oil from the reserve if oil supplies are disrupted, is aimed at advancing Calgary-based TransCanada’s plan to build the project to carry oil to U.S. Gulf Coast refineries.

Asked whether the U.S. might release oil from the reserve to limit a recent jump in oil prices, White House press secretary Jay Carney said the administration never takes “options off the table,” although he had no announcement.

Senate bill S. 2100, is sponsored by Senator David Vitter of Louisiana and Senators Richard Lugar of Indiana and John Hoeven of North Dakota.


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Submitted Feb 20, 2012 By: Martinman
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Senators Propose Tying Strategic Oil Reserve, Keystone XL Back to Topics
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honda0105
Champion Author Tallahassee

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Message Posted: Feb 24, 2012 5:01:16 AM

somehow we are heading down the Roman way in an ever accelerating manner. The filibustering is just one outward symptom.
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Martinman
Champion Author Mississippi

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Message Posted: Feb 23, 2012 7:24:51 PM

FILIBUSTER

Ever heard the word?

Since the Republicans lost control of Congress in '06 (the Republicans controlled the House, Senate, and White House from 2000-2006), Senate Majority Leader Mitch McConnell (R-KY) has essentially filibustered 100% of the legislation that has been attempted in the Senate.

Historically, the filibuster was meant as a 'means of last resort', what some use to refer to as the 'nuclear option'. It was a Senate procedure that was only to be used when what the majority party was doing something that was so agregious, that the Senate Bill or Senate appointment was filibuster by the minority party. It was a form of protest by the minority party within the Senate.

What it entailed, was during the debate, literally tying up the debate by speaking non-stop. Entire sections of the bible have been read. One Senator started at "A" in the dictionary and began reading... line, after line, after line. But it was a rarely used Senate procedure,... until the last five years.

Since 2006, the Senate Republicans have invoked the filibuster so much, that the Senate has done away with the actual process. The minority now only needs to advise the Senate of it's *intent* to fillibuster a debate. Anyone remember the Star Trek episode "A Taste of Armageddon"? In many ways, that is what the Senate has become.

A filibuster can only be defeated by procedural vote, called cloture. It requires not a majority, but a super-majority of three-fifths vote, which then changes the rules of debate, allowing the Bill to [eventually] proceed to vote.

So, unless the Majority party holds a minimum of 60 seats (assuming no defections), cloture can be used to override the filibuster procedure.


[Edited by: Martinman at 2/23/2012 8:33:57 PM EST]
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BurntOrange
Champion Author Austin

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Message Posted: Feb 23, 2012 1:22:45 PM

highdesertman wrote:

"I totally agree. Having a Democratic majority in both the House and the Senate will allow President Obama to get some things done and will stop these kinds of childish political games."

------------------------------------------------------

If that were to happen, no doubt we'd get the glowing success we had from 2008-2010 when Democrats held the White House and both houses of Congress.

The electorate showed just how happy they were in the 2010 elections.

In the Senate, Republicans had the biggest gains for either party in any election since 1994, while holding onto every contested seat.

In the House, Democrats held 255 seats prior to the election, and 193 after the election.

[Edited by: BurntOrange at 2/23/2012 2:24:05 PM EST]
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honda0105
Champion Author Tallahassee

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Message Posted: Feb 23, 2012 5:06:13 AM

so, car253, you are saying if there are major problems warranting a tapping of the SPR? Why do we have it then?
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car253
Champion Author Ohio

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Message Posted: Feb 20, 2012 7:12:23 PM

Good move, we should not be tapping the reserve.
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LetemEatCake
Champion Author Oklahoma City

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Message Posted: Feb 20, 2012 5:34:08 PM


I wonder how long it is going to take for these geniuses figure out the reserve exists for “a severe disruption in supply". The Strategic Petroleum Reserve was designed for energy emergencies, not political convenience.
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gknee09
Champion Author Philadelphia

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Message Posted: Feb 20, 2012 5:33:27 PM

so they have the ability to lower gas prices by releasing some reserve and they choose to make us spend more money when we don't have it because?
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Alfied
Champion Author Riverside

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Message Posted: Feb 20, 2012 3:40:28 PM

They'll try anything.
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Pete12
Champion Author Albany

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Message Posted: Feb 20, 2012 2:55:22 PM

This is a great idea.
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teafortwo
Champion Author Washington

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Message Posted: Feb 20, 2012 2:39:00 PM

BIG OIL & GAS love us

Will these BIG GREED puppets stop at nothing to serve their puppet masters?

Look at what is in the back pockets of your favorite politicians.

Yes, we get it. BIG OIL has given politicians a LOT of money to give them what they want.

How about all the elected politicians take a break from serving BIG OIL and actually do something that benefits the taxpaying citizens for a change?

And for a real change of pace, start working together instead of just blocking everything the "other" party attempts to accomplish?

BIG OIL & GAS love us

[Edited by: teafortwo at 2/20/2012 3:40:18 PM EST]
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GatorGuy
Champion Author Columbia

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Message Posted: Feb 20, 2012 2:14:29 PM

Let's sell off some politicians to pay for gas.
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Ken2OD
Champion Author Grand Rapids

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Message Posted: Feb 20, 2012 12:43:45 PM

Damned politics again!

What does 'politics' mean? 'Poly' is a combining form with the meaning of much or many. A 'tic' is a bloodsucking arachnid having a barbed proboscis for attachment to the skin - some are disease vectors. Yup, this fits most of the politician people I know who work in Washington D.C.
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nj2000ng
Champion Author Houston

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Message Posted: Feb 20, 2012 12:16:28 PM

whatever
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SkyWarnTX
All-Star Author Texas

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Message Posted: Feb 20, 2012 12:05:53 PM

---

Here is a GasBuddy CHART that CONFIRMS that the NATURAL PRICE of a GALLON of GASOLINE is only $1.50... see the DIP where SPECULATORS FLEE the OIL FUTURES MARKET.

The DIP and UPWARD TRENDS on the GasBuddy CHART IN BOTH CASES where the UPWARD TRENDS occur are where SPECULATORS PILE BACK IN. When the SPECULATORS BUBBLE BURSTS again, there will be another PLUNGE soon and the CYCLE will REPEAT.

BECAUSE the SPECULATORS NEVER TAKE DELIVERY of their OIL on PAPAER FUTURES CONTRACTS, the PRICE will rise until the MARKET is unable to BEAR it and GASOLINE will return to it's NATURAL VALUE of $1.50 a gallon.

---

There is NO SHORTAGE of REFINED GASOLINE in the U.S., only an OVERABUNDANCE of SPECULATOR GREED in the OIL FUTURES MARKET, bidding up the PRICE of OIL CONTRACTS, that INVESTOR NEVER TAKE DELIVERY OF.

---

DRILL BABY DRILL then EXPORT somewhere else does not make any sense. U.S. OIL Companies Export 117 million gallons per day of Refined GASOLINE... from the U.S. away to OTHER COUNTRIES... to keep the price up...

---

[Edited by: SkyWarnTX at 2/20/2012 1:08:22 PM EST]
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SkyWarnTX
All-Star Author Texas

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Message Posted: Feb 20, 2012 12:01:17 PM

---

MANIPULATING the OIL MARKET is a RICH MAN's GAME, played on the BACKS of WORKING AMERICANS.

---

Dr. Mark Cooper of the Consumer Federation of America explains how speculation has driven up oil prices more than China's demand has. – C-SPAN

---

WALL STREET INVESTORS have moved out of FINANCIAL STOCKS into OIL FUTURES that have moved BILLIONS of DOLLARS to BUY UP OIL SUPPLIES in the form of OIL FUTURES to BET that OIL will be higher in MONTHLY BLOCKS but they NEVER TAKE DELIVERY instead SPECULATORS continuously ROLLOVER their DELIVERY DATE to the NEXT MONTH. – See this REPORT from KTLA

---
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JCI46009IN
Champion Author Indiana

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Message Posted: Feb 20, 2012 11:59:30 AM

another reason Lugar should have been retired 10 years ago!
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gumbyrex
Champion Author Fresno

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Message Posted: Feb 20, 2012 11:45:38 AM

What a chess match! Your move Obama.
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zimowski
Champion Author San Jose

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Message Posted: Feb 20, 2012 11:39:50 AM

Obama needs to explain the basis for his actions to the American people.
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jerryjay11
Rookie Author Delaware

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Message Posted: Feb 20, 2012 11:32:03 AM

Like I stated earlier, talk to the Big "O". Or overrule him. This issue alone baffles me. Why stop production on something that will create jobs and reduce our reliance on foreign oil? Where is his head at? Probably some dark space!
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TheDix
Champion Author Ontario

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Message Posted: Feb 20, 2012 11:28:04 AM


Senators are underworked and over paid.Their pay cheques should not exceed $50'000/annually for the job performance rating of present.
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PerSonneL
Champion Author Alberta

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Message Posted: Feb 20, 2012 11:21:26 AM

keep trying
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dynamouse
Champion Author Michigan

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Message Posted: Feb 20, 2012 11:18:10 AM

get rid of obama
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jerej829
Champion Author Memphis

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Message Posted: Feb 20, 2012 11:13:48 AM

Build it already.
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Cheepo
Champion Author Tampa

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Message Posted: Feb 20, 2012 11:13:08 AM

Build that pipeline already!!!!!!!
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StraKat
Champion Author Ohio

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Message Posted: Feb 20, 2012 11:12:00 AM

What a circus this whole administration is.
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nwsynthetics
Champion Author Oregon

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Message Posted: Feb 20, 2012 11:11:59 AM

c'mon people
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bluetatanka
Champion Author Philadelphia

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Message Posted: Feb 20, 2012 11:11:57 AM

Let's do what's right for the country!
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GAS1251
Champion Author Texas

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Message Posted: Feb 20, 2012 11:10:26 AM

Oil went up the last time we released reserves.
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krobp46
Champion Author Milwaukee

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Message Posted: Feb 20, 2012 11:10:11 AM

Obama is only doing what is positive for his election campaign, instead of his job.
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Martinman
Champion Author Mississippi

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Message Posted: Feb 20, 2012 11:08:30 AM

slvrdo_dsprdo from nashville posted...

"... Just wait until November, guys. Just focus on getting Obama out of office. The only way you're going to get any traction on this is to get somebody more favorable in the White House."

-----

And the only way you're going to get anything out of Congress, is to remove the obstructionist party - the Grandstanding Obstructionists Party.

[Edited by: Martinman at 2/20/2012 12:11:13 PM EST]
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honkerman
Champion Author San Jose

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Message Posted: Feb 20, 2012 11:08:04 AM

I totally agree TopGun
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JSX515
Champion Author St. Louis

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Message Posted: Feb 20, 2012 11:07:50 AM

just impeach him
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TopGunn
Champion Author Baltimore

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Message Posted: Feb 20, 2012 11:06:08 AM

The SPR is supposed to be used for true emergency situations.

Supply and price manipulation do not constitute an emergency by any normal persons perspective.
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slvrdo_dsprdo
Champion Author Nashville

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Message Posted: Feb 20, 2012 11:06:06 AM

"legislation that would bar the Obama administration from using the U.S. Strategic Petroleum Reserve unless TransCanada Corp.’s Keystone XL pipeline is approved."

Bad idea; then you'd tie their hands if there was a real supply disruption.

"the U.S. might release oil from the reserve to limit a recent jump in oil prices"

Doesn't work, and that's not the purpose of it anyway.

Just wait until November, guys. Just focus on getting Obama out of office. The only way you're going to get any traction on this is to get somebody more favorable in the White House.
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seahawks
Champion Author Washington

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Message Posted: Feb 20, 2012 11:04:36 AM

interesting article to read!!!
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Martinman
Champion Author Mississippi

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Message Posted: Feb 20, 2012 11:02:56 AM

highdesertman from Albuquerque posted in reply...

> "ironbox sara writes "November can't come soon enough."

I totally agree. Having a Democratic majority in both the House and the Senate will allow President Obama to get some things done and will stop these kinds of childish political games."

-----

What was Churchill famously stated? "... that those who failed to learn from history, are doomed to repeat it".

Given that the approval rating for the White House has been climbing (50% to 51% in the latest polls) and Congress continues to languish at little more than 1/3 that, the "change" they're mocking and the change they're hoping for, may not be the change they want.
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sammynorge
Champion Author Columbus

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Message Posted: Feb 20, 2012 11:01:42 AM

Current Republican leadership is comprised of complete idiots who worship money. Unfortunately, there are many Democrats who fit right in with them.
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payogie
Champion Author Atlanta

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Message Posted: Feb 20, 2012 11:01:18 AM

Ok.
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jd4230
Champion Author Missouri

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Message Posted: Feb 20, 2012 11:01:11 AM

Hell people do what is best for the country and not policits
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GordoM
Champion Author Detroit

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Message Posted: Feb 20, 2012 11:00:57 AM

Although it probably is good politics to link Keystone to our energy security in public's mind, we should not limit strategic reserve flexibility. That defeats its purpose. No longer strategic.
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TXGasPriceSpy
Champion Author Fort Worth

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Message Posted: Feb 20, 2012 11:00:04 AM

We CAN make a difference. Vote in 2012.
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kuma2000
Champion Author Honolulu

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Message Posted: Feb 20, 2012 10:59:01 AM

let it flow.
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CPGas1815
Champion Author Michigan

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Message Posted: Feb 20, 2012 10:58:47 AM

Senate Repulicants can go to hell as far as I am concerned. The Party of "BIG OIL", the party of "TAX BREAKS" for Millionaires and Billionaires is going to lose big in November.
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HankJ
Champion Author Montgomery

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Message Posted: Feb 20, 2012 10:57:04 AM

this might work
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SandeeC
Champion Author Ontario

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Message Posted: Feb 20, 2012 10:56:53 AM

This sounds like a little bit of blackmail to me! And not a successful record of it working, as others have pointed out.
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nds76
Champion Author Michigan

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Message Posted: Feb 20, 2012 10:56:44 AM

We need this Keystone XL Pipeline.
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EMoe57
Champion Author Jacksonville

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Message Posted: Feb 20, 2012 10:56:41 AM

AMEN highdesertman
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HawaiianGuy
Champion Author Idaho

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Message Posted: Feb 20, 2012 10:56:31 AM

Pffft! Carney and Obama; idiots joined at the hip. "This administration never takes options off the table." The only option that spendthrift knows how to utilize is spending MORE. Must be nice to spend other peoples' money (and their grandchildren's, too). This guy's nothing but a LIAR and a THIEF!
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cmsense
Champion Author Columbus

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Message Posted: Feb 20, 2012 10:54:39 AM

How Special!!! Another Family Values Repugnant(David Vitter-Sexually Cheats on his wife) is sponsoring this BIG OIL PUSHED LEGISLATION!!! Certainly no chance of shaming anyone in the Repugnant Party!!!! SHAMELESS HYPOCRITES!!!!
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puckster5
All-Star Author Toronto

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Message Posted: Feb 20, 2012 10:53:55 AM

boring
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