Spring Break
Strategic Oil Reserve should keep its cap on
By: Joshua Dwyer
Issue date: 9/8/04 Section: Opinion
Energy is a hot topic these days. From the United States' dependence on foreign oil and over-regulation of domestic sources to investment in renewable energy forms and the limits of non-fossil fuel technologies, it seems like everyone has something to say, especially special interest groups.
As the temperature rose this summer, so did the price of fuel. The national average price for regular unleaded gasoline reached $2.05 a gallon, according to a report by the AAA. Though the price has come down since its all time high, some economists and elected officials are calling for action to help ordinary citizens cope with the necessary expense of filling up.
Perhaps the most popular and publicized idea was for President Bush to authorize the sale of some oil reserves owned by the federal government to help lower the cost at the pump. The use of oil reserves to temporarily give Americans a lower gas price would be irresponsible as well as potentially harmful to the national security of the United States. Officials elected to serve their respective constituents need to be reminded that their position does not entitle them to recklessly pawn U.S. security to win votes.
The federal government owns more than 668 million barrels of crude oil in a group of storage facilities in Texas and Louisiana known as the Strategic Petroleum Reserve (SPR), according to the Department of Energy. Selling oil intended for "emergency use only" greatly impairs the United States' ability to withstand future hazards, especially with the frontlines of the war on terror in the Middle East. This vulnerability is even more salient when one considers the American Petroleum Institute's report that the United States imports more than 62 percent of its crude oil.
A useful analogy might be the low-on-funds college student who uses an emergency credit card for a festive weekend at Northgate, then bemoans his misfortune when the transmission goes out on his car and he can't afford to get it fixed. He did not solve his first problem, but merely exchanged it for a larger problem in the future.
Be sure to include your name, major, and class year. Submissions without this information are subject to deletion.
By submitting a comment, you agree to thebatt.com's Terms of Use.
You may also send a Mail Call to The Battalion at mailcall@thebatt.com