Is this an act of prudent economic sensibilities or a power grab? Here’s what George asked the American people to do:
In the meantime, American consumers should try to conserve fuel when possible. Federal employees will be encouraged to carpool or use mass transit, he said. “We can all pitch in by being better conservers of energy — people need to recognize the storm has caused disruption,” Bush said.
Meanwhile, here’s what the former oilman will be doing to aid the petroleum industry and their already healthy bottom lines:
Pledged to release oil from the Strategic Petroleum Reserve.
Suspension of certain anti-pollution laws for gasoline and diesel fuel
Suspending the Jones Act shipping law to allow foreign tankers to move petroleum products between U.S. ports.
Highlighted the need to add additional refinery capacity, noting that no new refineries have been built since 1976.
Now, let’s be honest and remove the propaganda. Oil from the Strategic Oil Reserve is a purely symbolic move - just as it was when Clinton did it. Adding capacity is YEARS away from becoming a reality. Do statements like this create the hoarding effect (like in Georgia for their school snow day recently?) where people run out to get that “last tank of gas” and give gasoline producers and retailers cover to raise prices?
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