you are wrong about us not using the SPR:

"In its 30-year history, the 700-million-barrel reserve, which was recently authorized by Congress to expand to 1 billion barrels, has been tapped only three major times: 21 million barrels were released at the onset of the Persian Gulf war in the early 1990's, 30 million barrels in September 2000 and 24 million barrels last year after Hurricane Katrina struck. Those releases were so small considering the size of the reserve that one wonders why politicians are so dead set on having a billion barrels"

granted it wasn't much, but it was used.  it will be used more and more in the future as spare capacity dwindles and more "shocks" occur.  

an another note, do we have two Oil CEO's arguing with each other under the same nom de plume?  or perhaps Oil CEO may have a dissociative personality disorder...

I stand corrected. 24 over 600 million. I get 4%. How about you? Thanks for that 4% correction. What is your point, BTW? That I missed that awesome example of how 24 million barrels saved the western world? Maybe if you had read the rest of what I had written, you would understand.
On second thought(and this is Evil Oil CEO this time) you are wrong. You specify that it has been used only 3 "major" times. What constitutes major? And why is "major" important? I will surmise that "major" means it was suggested by the president and authorised by congress in some type of "crisis." The point being that "major" in this case is not really major at all - but at most 4% - and for all intents and purposes - irrelevant.

If one reads history, or other sources than your "unsourced" source, you will hear different things. Certainly transfers into and out of the SPR happen all the time to tide certain refiners/users over until better times.

Am I wrong? Has my bigger point about a relatively stable system with a large buffer supply sunk in yet or am I still full of **. Looking forward to your reply.

my point was that your facts were wrong.  i understand fine what you said.  i actually agree to a large extent.  i don't appreciate your arrogance or condescension, however.  

what is your point?  that buffers will save us in the long run?  

in case you didn't notice, that was a quote from the NYT, not my own writing.  they're called "quotes", see?  or maybe you don't consider the NYT a "source"?  take it up with them if you think they are spouting sh*t that hurts your precious ego.  

only the President can authorize a release from the SPR, as far as i know.  

arrogance or condescension? You accused me of having a personality disorder. What is that? Just being friendly?

There was no source in your text.Period. You would have had to have clicked on the link which did not specify itself as a link. It was hidden. No I didn't notice.

The article only verifies everything I've said so far.

I just like replying to myself on this thread because everthing I say is warmly seconded by Davdh's reply (below) to the thread above. Or so I think.

My "point," my Dear Isaiah, has been stated several times. If you don't get it, and I know you do - because you said you generally agree with me, then I really don't know what to tell you except,"Buy Halliburton at$60, sell it at $85, sell your Ford Explorer, construct a bunker under your backyard, stock it with MRE's and 5-gallon jugs of gasoline, buy a gun, and - for God's sake! - learn to swim."

you are quite hilarious, CEO.  i make some joke about a personality disorder because you reply to yourself with a very different tone, and you go off.  yeah, real mature; or maybe just insecure.  i fear for your employees, if you have any.  

and who taught you how to use the internet: your grandma?  it's called a hyperlink, and you should know by now what the default formatting and style is for one (at least the SOP for TOD). otherwise, you're going to be very lost in cyberspace...

although i agree with your point that we have large supply buffers built-in, in reality it's not beneficial.  precisely because, all these buffers promote complacency.  the longer we depend on internal buffers to smooth out the rough spots of supply, the longer it will take for people to wake up.  to start thinking about changing their lifestyles, pressuring for political energy reform, and searching for alternative energy sources.  

these disruptions should be warning signs of the approaching flood, not reasons to just buy more insurance and rebuild on the floodplain.  what we need is action, not docile cows strolling out to pasture.  without so much buffering there would be the chance for effective stimulus pre-peak, while there is still time, instead of the false sense of security that currently pervades public opinion.

Are we joking or not? You don't seem the type to take a joke very well. I tried a couple. I'm not sure if you laughed. Your tone seems very serious. All doom and gloom.
You wanna joke? Or you wanna talk about oil? You tell me. Just make up your goddamn mind. I'm tired of trying to figure you out. You're not worth it. I'd rather spend my time figuring whether El Paso is worth $12 bucks a share. So far, they've been worth it. You gonna give me more heat?
it's usually a little late to start joking after you overtly ridicule someone.  my joke may have been ambiguous, but your mockery was not.  it's also tough to joke with someone who needs to be right (and others who disagree to be wrong) all the time.  just a word of advice, no "heat".  
Please cool it with the personal insults guys. Debate is an excellent thing, but personal attacks lower the tone of the site. Thanks.
agreed.