US Airlines flehen Bush an, die strategische Oelreserve frei zu geben ! - 500 Beiträge pro Seite

[M_B_S]

US airlines urge 1 mln bbl/day oil reserve release
Thursday February 13, 6:34 pm ET


WASHINGTON, Feb 13 (Reuters) - The U.S. airline industry on Thursday called for the Bush administration to release one million barrels of oil a day from the Strategic Petroleum Reserve to lower fuel costs and ease tight supplies.
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In testimony to the Senate Energy Committee, an industry representative also asked for repeal of a tax of 4.3 cents a gallon on jet fuel enacted in 1993, which it said cost air carriers $600 million a year.

James May, president of the Air Transport Association, whose members account for nearly all air passenger and freight travel in the United States, said tapping the nation`s emergency oil stockpile would lower oil prices by one cent a gallon and save $1 billion on fuel and heating oil costs.

"A 1 million barrel per day release from the Strategic Petroleum Reserve would be the equivalent of major tax relief at no cost to the U.S. Treasury," May said. "It would provide a huge boost to our struggling economy."

The airlines had been expected to ask for new government help to ease cost pressures as they struggle with the industry`s worst-ever financial downturn. Passenger carriers reported $10 billion in losses last year.

The nation`s emergency oil reserve was created by Congress after the oil embargoes of the early 1970s to provide a buffer against disruptions in the U.S. oil supply, which relies heavily on imports. It holds about 600 million barrels of oil in deep underground salt caverns in Texas and Louisiana.

Earlier this week, the government said U.S. crude supplies held by oil companies fell to the lowest level since 1975 due to dwindling imports. However, the Bush administration said it did not plan to release any stockpiled oil at this time.

Oil prices are on the rise, partly due to fear of a U.S.-led war on Iraq and also because of a prolonged workers` strike in oil-producing Venezuela.

May said airlines believed the stockpile should be tapped "until the arrival of the Middle East oil expected as a result of the OPEC (News - Websites)quota increase to offset Venezuelan sources."

Oregon Democrat Ron Wyden said the loss of Venezuelan oil imports justified dipping into the Strategic Petroleum Reserve, saying: "I strongly support an SPR release now."

But Matthew Simmons, an energy investment banker, told the committee "it`s likely we will have to use SPR this year" because of low U.S. oil supply and high winter demand. He also said it would be difficult to find enough tankers to carry oil from the Middle East to replace reduced Venezuelan exports.

Premature use of the cached oil might backfire by discouraging oil production in other nations, Simmons said.

Robert Ebel, director of energy programs at the Center for Strategic and International Studies, a think tank, said U.S. actions should reflect the impact, if any, on supplies.

"I support use of SPR in the event of a severe supply emergency," Ebel said.



Tja, Leute da brennt einigen das Oel unterm Hintern weg !

[El_Torro]

na was glaubst du warum die so geil auf den Irak sind ?

[M_B_S]

Commercial crude oil inventories in the world`s top consumer are now at their lowest level since 1975, when the West was building stocks to prevent another price shock in the aftermath of the Arab oil embargo.


International benchmark Brent crude oil rose 65 cents to hit $33.10 a barrel, its highest since November 2000.


U.S. crude futures peaked at $36.29, their highest since October 2000 and marking a gain of 52 cents from Wednesday`s close.


"Despite vociferous opposition from Germany and France, there seems to be little likelihood that the U.S. drive toward war with Iraq will be blocked," said Lawrence Eagles of brokers GNI.


"The short-term supply situation is also of concern," he added.


Oil prices have spiked 45 percent in the last three months on an explosive cocktail of U.S. troop build-up in the Middle East Gulf, a crippling strike in OPEC (news - web sites) member Venezuela and Arctic weather in markets from Europe to the United States.