Bush to call for 20% reduction in gasoline consumption

[n2doc]

Bush to call for 20% reduction in gasoline consumption


Last Update: 1:28 PM ET Jan 23, 2007

WASHINGTON (MarketWatch) -- President Bush will propose a massive switch to renewable fuels such as ethanol and biodiesel in his State of the Union address Tuesday evening, the White House said. Bush's plan would cut gasoline consumption by 20% in 10 years in part by boosting production of renewable fuels. Bush will also ask Congress for the authority to set the corporate fuel economy standard for cars and trucks, aides said.

http://www.marketwatch.com/

Oil ends at 2-week high on plans to boost U.S. oil reserve

By Myra P. Saefong
Last Update: 2:59 PM ET Jan 23, 2007

SAN FRANCISCO (MarketWatch) -- March crude rallied $2.46, or 4.7%, to close at a two-week high of $55.04 a barrel Tuesday after peaking at the $55.15 level. Phil Flynn, a senior analyst at Alaron Trading attributed the late-session rally to a two-week intraday high of $55.15 to U.S. Energy Secretary Samuel Bodman's announcement that the government will boost the size of the nation's emergency oil reserve. It'll begin buying crude this Spring at a rate of about 100,000 barrels per day, according to Dow Jones Newswires. The acquisition is part of a new plan to double the capacity of the Strategic Petroleum Reserve to 1.5 billion by 2027, the report said.

[TheCowsCameHome]

1. Where was he on this six years ago?

Taking care of his oil buddies, that's where.

[n2doc]

4. I think they have realized that the long term $$$ are in ethanol from corn

ADM and big Ag are getting into the fuel biz.

[TheCowsCameHome]

5. You can bet Bush and Fang Tooth will get rich off this.

[speedoo]

2. *scratching head*

There's gotta be a trick to this.

Either that, or Cheney is a goner.

:shrug:

[Pawel K]

3. There probably is a trick and I think its this:

Bush will also ask Congress for the authority to set the corporate fuel economy standard for cars and trucks, aides said.

For some reason I wouldn't trust him with that kind of authority.

[speedoo]

6. "for some reason"?

I can think of a couple hundred!

He has never been truthful, with the American people, about anything. :puke:

[Pawel K]

7. Next time I'll use the sarcasm tag ;)

"For some reason" I didn't think it was necessary.

[JohnWxy]

8. He won't do anything but TALK about it. He'll let others take on the responsibility of taking some

action and incur the wrath of those who want to ignore the fact that something has to be done and done NOW. of course, he reserves the right to veto anything CHeney finds too onerous to the oil companies.

Where CAFE standards needs adjustment is for SUVs. But that is a real longshot.

[Porcupine]

12. The 20% in TEN years is the trick. clue: Climate Change

Just judging from the fact that the northern hemisphere did not really cool down this winter this summer is going to be hell. We should have shed a lot of heat we didn't. That means massive problems and political fallout.

We should have goals like reducing carbon emissions 90% in 15 years and tripling carbon sequestration on Agricultural and forest lands. We should be hand thinning forests, cooking off and bottling the wood gas and burying charcoal. Like this:http://en.wikipedia.org/wiki/Terra_preta

But nope, we are going to get the most wimpy possible energy savings bill. A few simple modifications to the existing vehicles coming off assembly lines and we could get 20% savings in three years without even banning SUVs.

This is greenwashing.

[madrchsod]

11. he is raising the price of gasoline...

not by market forces but by his own intervention. did you know we are the 4th largest producer of oil?

[jpak]

9. Prolly "business as usual" (no new CAFE standards) just replace gas with ethanol

The most wrongheaded dumbass approach to the problem.

Pumping gasahol into Hummers ain't gonna cut it...

[madrchsod]

10. my wife and i have!

we don`t have a job, so hell we have cut back almost 90%.