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Article: United States merely a 'toothless tiger' in broad scheme of things. (U.S. petroleum industry economy) (column)
- Article from:
- The Oil Daily
- Article date:
- October 9, 1986
- Author:
CopyrightCOPYRIGHT 1986 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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United States Merely a "Toothless Tiger' in Broad Scheme of Things
MAY call it tokenism, but the action by the Department of Energy in buying 10,000 barrels of domestic oil each day to help fill the bulging Strategic Petroleum Reserve is an effort by an administration beseiged by oilmen to show that it cares--before the election.
Another 25,000 b/d needed to fill a presidential commitment to maintain at least a 35,000 b/d fill rate will doubtless come from neighboring Mexico.
The miniscule purchase of domestic oil for the SPR is another phase in the administration's continuing effort to find ways--short of a price-boosting import fee--to placate ...