Replies to post #20913 on Value Microcaps Motherboard

[lentinman]

Bob:

I fail to see why Bush cannot fully cover any shortfall for 3 months if necessary. The SPR has over 700 million bbls. We might be, at most, 1 million short per day from Katrina. And, that assumes we don't get parts of it up and running much sooner than 3 months - which we certainly would. So what if he uses 90m for what might be the worst oil catastrophe in our history to date? 90m can be replaced over time. And, it still leaves over 600m bbls in reserve even if we needed a full 90m. The odds are it would be considerably less and with less demand - as I predict, depending on the severity of the N.O. issue - he could VERY easily cover it without breaking a sweat.

Why let oil run wild???? His ratings are dropping anyway. He needs to do everything he can to lessen the blow on US citizens. I believe he will cover drop for drop the losses in the gulf. If he doesn't, he is (IMO) making a MAJOR political mistake!

Len