Say Anything Blog

He’s fixed it, that is, if you think that suspending oil deliveries to the strategic oil reserve will have any impact at all on the overall oil market.  Which, of course, it won’t.

Even if the strategic oil reserve wasn’t market neutral in that it releases as much oil into the markets as it takes in, the 70,000 barrels/day of oil put in the reserve represents less than 1/2 of 1% (0.35% to be exact) of the approximately 20,000,000 barrels per day America consumes.

Meanwhile, Dorgan and his fellow Democrats killed off a measure that would allow the exploitation of oil reserves in Alaska that are expected to be plentiful enough to replace oil obtained from Saudi Arabia for the two decades.

So well done Byron Dorgan.  You’ve accomplished absolutely nothing.

More by the Whistler

Rob beat me to this story.  Big surprise unlike Rob I actually work sometimes.  What I was going to add was that ANWR could be delivering one million barrels a day.  Bill Clinton vetoed a bill to develop in in 1995 (with Dorgan’s support) So Dorgan thinks that the Strategic Oil Reserve’s 70,000 barrels is a problem but we could be/should be getting 14 times more oil than that.  What a hypocrite.