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Edwards Proposes Tapping Into U.S. Oil Reserves Save Email Print
Posted: 10:45 PM May 1, 2008
 Last Updated: 10:45 PM May 1, 2008
 Reporter: Joe Brown
Email Address: brown@kbtx.com
18 comments
A | A | A

Congressman Chet Edwards says the time has come for the country to tap into its petroleum reserves.

With crude closing in on $120 a barrel, Edwards is calling for the immediate release of oil from the nation's Strategic Petroleum Reserve into the open market. He says the increased supply would help halt rising gas prices which are predicted to hit $4 per gallon by summer.

"At a time when costs for groceries, gas, health care, and education keep rising, releasing oil from the Strategic Petroleum Reserve is a common sense first step that will help ease the burden for working families and businesses struggling to make ends meet in today's economy," said Edwards.

The Strategic Petroleum Reserve is currently 97 percent full with more than 700 million barrels of oil. The SPR has been tapped before by President Bush, President Clinton, and former President Bush.
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Posted by: barbie on May 7, 2008 at 04:01 PM
I agree with Chet. Its about time we do something.
Posted by: Anonymous on May 5, 2008 at 11:18 PM
I didn't vote for Chet. I voted for the other guy. Where are you VAN TAYLOR?!!!
Posted by: Anonymous Location: BCS on May 5, 2008 at 07:59 PM
If things look bad now just think if a Hurricane hits Houston. We need some refinery construction in the USA and some new drilling not some liberal nuts ideas about stopping drilling and using emergency oil storage. Chet will probably come up with a plan to Tax us into prosperity next. Pres. Bush a disappointment on energy.
Posted by: Anonymous on May 5, 2008 at 05:40 PM
How'd Chet Vote on the ANWR drilling proposal? Has anyone asked him, and if not, why not? Come to that, we ought to ask Hillary and Barryo, too...
Posted by: Red Girl Location: Ballot Box on May 5, 2008 at 11:52 AM
Chet is a blue rep in a red district. Obviously he has forsaken his constituents for the tax and spend, gay marriage, food stamp, anti self defense, liberal kooks. His beliefs are more in line with Teddy Kennedy, Babs Boxer, Chucky Shumer, Hilldabeast and Barrack Husein Obama than the tax payers and voters in his district. On election day we need need to trade this blue one in for a red one.
Posted by: Whatif on May 5, 2008 at 11:26 AM
If our government was giving tax breaks to oil companies for domestic oil drilling and refinery construction, instead of subsidizing ethanol, we would be paying a lot less for gas. Google the "Energy Non-Crisis" by Lindsey Williams. The oil is there waiting for us. There is no escaping high gas prices. Everything you purchase is tied to the price of oil.
Posted by: Anonymous Location: BCS on May 3, 2008 at 11:51 PM
Chet needs to go with our liberal Texas State Senator. Chet is so far Left with his friends Obama and the House Speaker from San Francisco that he voted for,he is out of the ball park. One DEM. and one REP. that need voted out.
Posted by: Registered Voter Location: 17th Congressional Dist of Texas on May 3, 2008 at 11:00 AM
Chet, you and your environmentalist, wacko, radical, liberal buddies need to endorse drilling for oil in Alaska. There is enough oil up there to meet our needs for 75 years. You also need to encourage oil companies to build new refineries. The last refinery in America was built in 1974 thanks to the socialist radicals in the EPA. But then again, I would expect such foolishness from a politician that has aligned himself with the Democratic Socialist Party and endorsed Left wing radical presidential candidate Barry Husein Obama.
Posted by: Proud American Location: Bryan on May 3, 2008 at 09:24 AM
Hey....No, Im not in favor of taking my hard earned Texas Teachers retirement fund for any reason other than MY RETIREMENT. Hey - what about taking YOUR RETIREMENT????
Posted by: dont worry Location: cs on May 2, 2008 at 04:28 PM
I`m working on a car or truck that runs off an eletric motor powered by a windmill
Posted by: hey on May 2, 2008 at 04:17 PM
lets take the texas teachers retirement fund and split it up to all texans, legal or not, to buy gas. better than building the super duper highway with there money!
Posted by: bmw Location: cs on May 2, 2008 at 12:26 PM
am i the only one sick of hearing politicians and politics? this guy is about two years late in his thinking...
Posted by: lp Location: College Station on May 2, 2008 at 12:22 PM
Raising the gas tax is the stupidest idea I have ever heard. What needs to happen is these environmentalist wackos need to back off, let us drill in anwar, let us drill off the coast of florida and california. Stop all the regulations on refineries, build more refineries. Stop wasting our time (and raising our food prices) with ethanol. Build more nuclear power plants, in time lower the cost of electricity, and use some electrical vehicles for short trips 35 miles or less.
Posted by: Dan Location: Bryan on May 2, 2008 at 12:16 PM
Tap our Strategic Oil Reserves !! Did short term fix, short sighted Edwards really propose this? These dems try to inhibit national secruity any way possible. Did you see he voted against the FISA Act (terrorist surveilance act)Chine thanks these Dems and all the middle eastern jihdst chime right in. The 17th district is in deep trouble with Edwards.
Posted by: marc Location: iola on May 2, 2008 at 11:28 AM
This is a bad idea. First, the purpose of a "strategic" reserve is not to manipulate the price of petroleum products, it's to have when and if an emergency occurs. Second, lower prices encourage consumption and discourage conservation, which is the exact opposite of what we want to do. Third, Congressional mandates for lower fuel prices actively discourage investment in alternate energy sources that require significant capital to bring to market. While draining the reserve is by definition only a short-term ploy, it nonetheless sends a message to energy investors that their "Congressional risk" is higher than it ought to be.
Posted by: harry Location: bryan tx on May 2, 2008 at 09:07 AM
We need to rais the gas tax to $2.00 a gal and get the US auto ind. to produce more efficent cars. As well as develop alt fuel from bio mass rather than use feed grain for fule production.
Posted by: Rusty Location: Calvert on May 2, 2008 at 07:58 AM
I agree! Its also time to drill in the ANWR!
Posted by: john Location: College Station on May 2, 2008 at 04:55 AM
Any ideas about what to do once the reserve is empty Chet? Or, like Social Security, are yougoing to let it be your successor's worry? And how much will this help anyway, since OUR refineries can't process any more oil anyway (China would thank you though, since they don't have the environmental restrictions we do and it would save them big bucks...)?
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