As odd as it sounds, I actually hope they do not open up the strategic reserves. Those are there for a specific purpose, a non-economic one. Better for gas to cost $7/gallon than the strategic reserve be depleted. Without the reserve we would be unable or less able to either respond to emergency situations or project force as we might need to for purposes of defense. I think most of our defense budget is overblown, but the strategic reserve is one thing I'm pretty well behind.
As for prices, I think I'd rather see rationing and gas lines than super-expensive gasoline or companies gobbling up the entire supply and leaving individuals SOL.
As far as our supply, I believe a large portion of our oil comes as a result of negotiated treaties, not simply open market access, though I could be mistaken. That said, a major oil shortage may be just what we need. The last time we had an oil crisis, it resulted in a shift to more efficient machines and alternative power sources.
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Date: 2011-02-23 04:32 pm (UTC)As for prices, I think I'd rather see rationing and gas lines than super-expensive gasoline or companies gobbling up the entire supply and leaving individuals SOL.
As far as our supply, I believe a large portion of our oil comes as a result of negotiated treaties, not simply open market access, though I could be mistaken. That said, a major oil shortage may be just what we need. The last time we had an oil crisis, it resulted in a shift to more efficient machines and alternative power sources.