Blog > Oil and Energy > Blog article: Oil Prices: Three moves to stop the price hikes
 | Email This Article Email This Article  | 

Oil Prices: Three moves to stop the price hikes

Posted May 22, 2008

“Now, Congress has voted to stop adding oil to the national Strategic Petroleum Reserve (which was created in the 1970s to smooth out pricing disruptions and supply problems). Talk about missing the point!” — Keith Fitz-Gerald

by Keith Fitz-Gerald, Money Morning

Baltimore – (TFN): First there was the trillion-dollar pork fest for energy.

Then there was the decision to go with corn-based ethanol.

Now, Congress has voted to stop adding oil to the national Strategic Petroleum Reserve (which was created in the 1970s to smooth out pricing disruptions and supply problems).

Talk about missing the point!

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

THE INVESTMENT CLUB YOU CAN’T GET INTO

The Wall Street Journal recently reported that “there are now more than 430,000 households in the U.S. with a net worth of $10 million or more.”

You’re about to have the opportunity to join them.

Investment intelligence powerful enough to put $500,000 in your pocket over the next 12 months. Learn more.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Sure you could argue that by putting less into the strategic reserves we could take some of the pressure off oil prices… and by implication help bring them down from their record levels at more than $130 a barrel.

I mean it sure sounds good in theory, especially in an election year. Read on to learn more.

****Make sure you sign up for our free TFN News Feed for breaking news, special reports and new financial videos. You can pick your favorite reader . Or if you prefer, you can have or free daily email delivered to your inbox .


Related Articles


Posted by Keith Fitz-Gerald · Filed Under Oil and Energy 

Comments

close Reblog this comment
Powered by Disqus · Learn more
blog comments powered by Disqus