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Oil Stockpiles Likely to Remain Untapped for Now

The Wall Street Journal -- Prospects have dimmed that major oil consumers in Europe, the U.S. and Asia will drive down prices this summer by collectively making a large injection into the market from emergency oil stockpiles.

Such action, coordinated by the International Energy Agency, looked to be gathering momentum just a month ago following comments from the U.S., U.K. and French government officials. But it has lost some of its political traction and much of its justification, given that supply is up and prices are down without any moves by western governments.

Analysts at the IEA are more confident of adequate oil supply later this year after months of high crude production from Saudi Arabia that will offset any cut in Iranian exports because of the sanctions.

Politically, the odds of IEA action are likely

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Submitted Apr 30, 2012 By: angel4me

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gavinON All-Star Author Toronto Posts:562 Points:112,935 Joined:Mar 2012	Message Posted: Apr 30, 2012 4:48:37 PM Ignore gavinON Report Abuse hmmm
FuelGrinch Veteran Author Kansas Posts:272 Points:59,250 Joined:Aug 2005	Message Posted: Apr 30, 2012 4:46:06 PM Ignore FuelGrinch Report Abuse Some stories say $4 to %5 by this summer. Now this story says they are going to push prices down. Don't know who to beleive now days. Good luck to pushing prices down.....if you can!
iamforiu Champion Author Indiana Posts:3,570 Points:710,665 Joined:May 2011	Message Posted: Apr 30, 2012 4:44:52 PM Ignore iamforiu Report Abuse good
Holly123 Champion Author Charlotte Posts:3,197 Points:789,235 Joined:Dec 2010	Message Posted: Apr 30, 2012 4:43:22 PM Ignore Holly123 Report Abuse Thanks.
nimpy Champion Author Indianapolis Posts:8,135 Points:1,701,105 Joined:Oct 2007	Message Posted: Apr 30, 2012 4:41:59 PM Ignore nimpy Report Abuse It really doesn't help reduce the price at all
ctcowboy Sophomore Author Connecticut Posts:198 Points:42,820 Joined:Aug 2011	Message Posted: Apr 30, 2012 4:40:47 PM Ignore ctcowboy Report Abuse ok
Z51Corvette Champion Author Austin Posts:8,480 Points:1,670,195 Joined:Jan 2008	Message Posted: Apr 30, 2012 4:39:26 PM Ignore Z51Corvette Report Abuse Too many agencies.... cut the bureaucracy and improve the efficiency and price comes, DOWN!!!
BobbyVA Champion Author Virginia Beach Posts:5,503 Points:1,175,550 Joined:Jul 2009	Message Posted: Apr 30, 2012 4:37:36 PM Ignore BobbyVA Report Abuse This idea was pushed by the liberal Obama Dems and it didn't make any difference except for four days oil came down sightly. Our Strategic Oil Reserves are for national emergencies, not high priced fuel.
nemoFL Champion Author Florida Posts:8,796 Points:1,609,300 Joined:Oct 2008	Message Posted: Apr 30, 2012 4:34:16 PM Ignore nemoFL Report Abuse thats good isnt it
streetcars Champion Author Toledo Posts:12,259 Points:2,605,665 Joined:Apr 2005	Message Posted: Apr 30, 2012 4:32:35 PM Ignore streetcars Report Abuse Not enough storage in the US market to hold what is in the "pipeline" now.
greshams Champion Author Cincinnati Posts:2,004 Points:374,675 Joined:Nov 2011	Message Posted: Apr 30, 2012 4:31:22 PM Ignore greshams Report Abuse they just want gas to be $4.00 a gal.
carefrey Champion Author Orlando Posts:5,530 Points:1,158,510 Joined:Sep 2009	Message Posted: Apr 30, 2012 4:28:18 PM Ignore carefrey Report Abuse Why?????
DancingDee Champion Author Gary Posts:4,380 Points:1,055,685 Joined:Jul 2005	Message Posted: Apr 30, 2012 4:27:36 PM Ignore DancingDee Report Abuse That's too bad.
Bonanza Champion Author Boston Posts:12,081 Points:2,550,030 Joined:Jun 2004	Message Posted: Apr 30, 2012 4:27:04 PM Ignore Bonanza Report Abuse Supply seems to have no effect on pricing
marlita Champion Author Dayton Posts:3,312 Points:785,130 Joined:Mar 2010	Message Posted: Apr 30, 2012 4:25:30 PM Ignore marlita Report Abuse I just don't get it we are wasting oil by letting it just sit in stockpiles while people are paying sky high prices for gas what is wrong with this picture.
SUSANCK Champion Author Chicago Posts:3,637 Points:707,480 Joined:Apr 2011	Message Posted: Apr 30, 2012 4:24:52 PM Ignore SUSANCK Report Abuse Not if obummer wants to get re-elected!
SavinOnFuel Champion Author Gary Posts:1,966 Points:1,256,910 Joined:Nov 2007	Message Posted: Apr 30, 2012 4:22:38 PM Ignore SavinOnFuel Report Abuse I'll wait and see
MrLuigi Champion Author Massachusetts Posts:4,768 Points:965,710 Joined:Jun 2005	Message Posted: Apr 30, 2012 4:20:04 PM Ignore MrLuigi Report Abuse Pete12's got it right!
Kaiyne Champion Author Chicago Posts:2,334 Points:471,740 Joined:Feb 2011	Message Posted: Apr 30, 2012 4:18:41 PM Ignore Kaiyne Report Abuse Good.
07skydriver Champion Author Ohio Posts:3,255 Points:982,130 Joined:Feb 2009	Message Posted: Apr 30, 2012 4:18:28 PM Ignore 07skydriver Report Abuse Just stay home.
vincentV All-Star Author Toronto Posts:652 Points:137,305 Joined:Oct 2010	Message Posted: Apr 30, 2012 4:18:25 PM Ignore vincentV Report Abuse wow
Pete12 Champion Author Albany Posts:4,874 Points:1,644,175 Joined:Nov 2005	Message Posted: Apr 30, 2012 4:17:46 PM Ignore Pete12 Report Abuse Now if they would refine more gas maybe we could bring the excess supply of oil down a bit and lower gas prices at the same time.
29louieson Veteran Author Phoenix Posts:310 Points:151,500 Joined:Mar 2012	Message Posted: Apr 30, 2012 4:17:00 PM Ignore 29louieson Report Abuse Obviously the price AIN'T high enough !
tex_mex13 All-Star Author Austin Posts:615 Points:275,255 Joined:Jul 2011	Message Posted: Apr 30, 2012 4:16:27 PM Ignore tex_mex13 Report Abuse Save it for later !
armey Champion Author Oregon Posts:1,296 Points:310,255 Joined:Aug 2008	Message Posted: Apr 30, 2012 4:16:22 PM Ignore armey Report Abuse Thats not good!
CPGas1815 Champion Author Michigan Posts:6,027 Points:1,099,605 Joined:Apr 2008	Message Posted: Apr 30, 2012 4:15:21 PM Ignore CPGas1815 Report Abuse So when are we going to see affordable gas prices?
marinedad1949 Champion Author Lancaster Posts:2,486 Points:503,220 Joined:Nov 2011	Message Posted: Apr 30, 2012 4:15:10 PM Ignore marinedad1949 Report Abuse Less talk and more action is needed!
JENNYHK Champion Author Chicago Posts:3,636 Points:712,570 Joined:Apr 2011	Message Posted: Apr 30, 2012 4:14:00 PM Ignore JENNYHK Report Abuse Can't touch this.
BrizzyRyan Rookie Author Winnipeg Posts:1 Points:1,375 Joined:Apr 2012	Message Posted: Apr 30, 2012 4:11:31 PM Ignore BrizzyRyan Report Abuse ya
caddilac Champion Author Ontario Posts:16,600 Points:2,139,480 Joined:Apr 2007	Message Posted: Apr 30, 2012 4:11:04 PM Ignore caddilac Report Abuse Yawn.
EmperorsFinest Champion Author Chicago Posts:1,564 Points:340,870 Joined:Jul 2011	Message Posted: Apr 30, 2012 4:08:15 PM Ignore EmperorsFinest Report Abuse Be prepared.
MJIOWA Champion Author Iowa Posts:4,818 Points:1,076,970 Joined:Nov 2009	Message Posted: Apr 30, 2012 4:03:29 PM Ignore MJIOWA Report Abuse very smart
FOURXFOUR Champion Author Boston Posts:2,461 Points:1,246,230 Joined:Aug 2005	Message Posted: Apr 30, 2012 4:02:45 PM Ignore FOURXFOUR Report Abuse They need the reserve just to power obama's re-election aircraft (AF-1), oh wait those trips are for national security...wink-wink...
RAKARWOWSKI Champion Author Chicago Posts:3,995 Points:820,050 Joined:Jan 2011	Message Posted: Apr 30, 2012 4:02:06 PM Ignore RAKARWOWSKI Report Abuse Now more than ever.
byoftDad Champion Author Columbus Posts:4,452 Points:1,233,375 Joined:Apr 2005	Message Posted: Apr 30, 2012 3:59:17 PM Ignore byoftDad Report Abuse Good, the reserve should be for a military use only.
speedys Champion Author Utah Posts:7,012 Points:2,557,910 Joined:Nov 2005	Message Posted: Apr 30, 2012 3:54:48 PM Ignore speedys Report Abuse We have oil we just need more refineres and less speculators.
putz247 Champion Author Ohio Posts:2,281 Points:512,030 Joined:Aug 2011	Message Posted: Apr 30, 2012 3:53:53 PM Ignore putz247 Report Abuse ugh
grammamNV Champion Author Nevada Posts:2,335 Points:372,425 Joined:Mar 2011	Message Posted: Apr 30, 2012 3:52:02 PM Ignore grammamNV Report Abuse ok then
032946 Champion Author Twin Cities Posts:19,855 Points:4,043,070 Joined:Oct 2001	Message Posted: Apr 30, 2012 3:51:59 PM Ignore 032946 Report Abuse With demand down that is a no Brainer!!
BigBob12345 Champion Author Gasbuddy Posts:1,521 Points:304,730 Joined:Aug 2011	Message Posted: Apr 30, 2012 3:47:41 PM Ignore BigBob12345 Report Abuse so it goes
liz72601 Rookie Author Arkansas Posts:48 Points:169,185 Joined:Sep 2011	Message Posted: Apr 30, 2012 3:37:22 PM Ignore liz72601 Report Abuse so we suffer more
jimbo1867 Champion Author Arizona Posts:5,372 Points:2,054,550 Joined:Apr 2005	Message Posted: Apr 30, 2012 3:32:06 PM Ignore jimbo1867 Report Abuse lol dougtaylor1
Babe4 Champion Author Flint Posts:13,103 Points:2,503,655 Joined:Sep 2005	Message Posted: Apr 30, 2012 3:28:35 PM Ignore Babe4 Report Abuse Good one, dougtaylor1
dougtaylor1 Champion Author Phoenix Posts:1,751 Points:446,575 Joined:Jun 2011	Message Posted: Apr 30, 2012 3:26:09 PM Ignore dougtaylor1 Report Abuse Liar, liar, pants on fire. How do you tell if obumer is lying. his lips are moving.
HockeyLady Champion Author New Jersey Posts:5,568 Points:2,105,520 Joined:Jun 2005	Message Posted: Apr 30, 2012 3:24:18 PM Ignore HockeyLady Report Abuse good
RAC110 Champion Author Massachusetts Posts:5,949 Points:1,851,545 Joined:Mar 2003	Message Posted: Apr 30, 2012 3:23:26 PM Ignore RAC110 Report Abuse all of the news about great amounts of oil and plenty of ways to get it should be getting lower prices for the oil
OKRifle Champion Author Oklahoma City Posts:10,397 Points:1,809,310 Joined:Oct 2007	Message Posted: Apr 30, 2012 3:22:54 PM Ignore OKRifle Report Abuse Don't need to!
Mowerman08 Champion Author Milwaukee Posts:4,755 Points:1,217,020 Joined:Aug 2008	Message Posted: Apr 30, 2012 3:22:37 PM Ignore Mowerman08 Report Abuse at least until it can be loaded on a tanker for export
humblepie Champion Author Toledo Posts:34,182 Points:2,370,395 Joined:Mar 2006	Message Posted: Apr 30, 2012 3:21:39 PM Ignore humblepie Report Abuse just more liberal stupidity
Tomeboy Champion Author Twin Cities Posts:3,764 Points:558,690 Joined:Apr 2009	Message Posted: Apr 30, 2012 3:13:28 PM Ignore Tomeboy Report Abuse Algernon... you must have forgot to read the General Forum Guidelines. From GasBuddy.com General Forum Guidelines -------------------------------------------- It states: In an effort to keep political discussions separate from other discussion, please post your messages in the US Politics forum, or the Canada Politics forum. [Edited by: Tomeboy at 4/30/2012 3:14:13 PM EST]
downstream Champion Author Little Rock Posts:1,108 Points:1,391,170 Joined:Mar 2006	Message Posted: Apr 30, 2012 3:12:36 PM Ignore downstream Report Abuse yeah lsu, obama... want a cookie?
LSU_TIGERS_dmb Champion Author Louisiana Posts:1,714 Points:619,895 Joined:May 2011	Message Posted: Apr 30, 2012 3:10:38 PM Ignore LSU_TIGERS_dmb Report Abuse Obama will do anything to fool the people in the US so he can get in for another 4 years. DON't buy into his BS.. VOTE HIM OUT IN November.. Time for a new president in the WH