Peak Oil News

 

 
Menu
 News
 Search
 Topics
 Stories Archive
 Submit News
 Discussions
 Code of Conduct
 Forums
 Last 24 Hours
 PO 24hrs
 Peak Blog
 Ask Jane
 Resources
 About Us
 Downloads
 Web Links
 PeakWiki
 PeakPortal
 Focus Search
 Peak TV
 Peak Oil Boston
 Follow on Twitter
 Members
 User Panel
 Members List
 PO Team
 JOIN!
 Private Messages
 
Member Quotes
Human Beings possess intellectual faculties not seen anywhere else on Earth. This is the main survival mechanism for our species - BRAINS. We can engage in abstract and hypothetical thought. We can anticipate possible futures and prepare. We can research, experiment, hypothesize and learn as no other animal ever could.

Carlhole

Suggest Quote

 
Photo Album
Submit Photo
Peakoil.com is You!


member photos
 
Links
News (German)
Oil Tools
ecology auto wrecking
Used Vauxhall
Net App Training
Aaron
 
U.S. delays buying emergency oil
Consumption; Demand; PricesMove keeps more oil on the market through winter heating season.

WASHINGTON (Reuters) -- The Energy Department said Monday it will hold off buying replacement oil for the nation's emergency petroleum stockpile through the winter heating season in order to keep more supplies on the market.

To help make more oil available for producing gasoline over the summer and help lower then-soaring pump prices, President Bush in April ordered the Energy Department to delay deliveries and purchases of oil for the Strategic Petroleum Reserve until this autumn, which began Sept. 22.


The department needs to replace some 11 million barrels of crude oil that it sold last year from the stockpile for $600 million to oil companies that needed help after Hurricane Katrina disrupted petroleum supplies.

However, the department expects to delay buying that replacement oil during the winter, when demand for heating oil is strong, according to department spokesman Craig Stevens.

Reuters

Posted on Tuesday, October 03 @ 08:49:40 PDT by leanan
 
Related Links
· More about Consumption; Demand; Prices
· News by leanan


Most read story about Consumption; Demand; Prices:
Forget About Cheap Oil

 
Article Rating
Average Score: 0
Votes: 0

Please take a second and vote for this article:

Excellent
Very Good
Good
Regular
Bad

 
Options

 Printer Friendly Printer Friendly

 
"U.S. delays buying emergency oil" | Login/Create an Account | 1 comment | Search Discussion
The comments are owned by the poster. We aren't responsible for their content.

No Comments Allowed for Anonymous, please register

Re: U.S. delays buying emergency oil (Score: 1)
by ThunderSnow on Tuesday, October 03 @ 15:14:42 PDT
(User Info )
Yeah they'll hold off adding to the SPR, at least until after the election.