Schumer and Oil
Today we heard calls from some Senators, including NY Senator Charles "Ban That Mythical Armor Piercing Gun!" Schumer for President Bush to release oil stocks from the Strategic Oil Reserve in order to push down gas prices.
First, didn't Clinton try this? Wasn't the net price decrease something like one cent?
Second, considering the refining capacity of this country, will a supply shock of crude really do anything anyway? I realize this is a complex issue, but considering all of our refineries are already at or very near capacity, I don't see what dumping more crude will accomplish.
Third, if Schumer is truly upset about gas prices, enough so that he'd countenance the drawing down of our strategic reserves, and if he really does think inadequate supplies of crude is the major reason behind increasing gasoline prices, then maybe he shouldn't have voted against getting oil out of ANWR.
Posted by John Tant at March 9, 2005 02:43 PM
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