Political Quotes

“Now, Mr. President, I would like to turn quickly to a Department of Energy proposal to construct a new petroleum product reserve on the west coast. We call this PADD 5, short for Petroleum Administration for Defense District 5. PADD 5 is important because it consumes 17 percent of the Nation's gasoline, 13 percent of its diesel fuel, and 30 percent of its jet fuel. At the same time, PADD 5 is geographically isolated, according to the Energy Information Administration. The approximately 30 refineries operating on the west coast are responsible for supplying nearly all of its petroleum products. The argument for a product reserve is relatively straightforward. Because PADD 5 is separated from the rest of the country by the Rocky Mountains and from the world by the Pacific Ocean, a stockpile of refined fuel should be established. That is the argument that is out there. I don't oppose a study of this concept, but I can see the pitfalls out there. PADD 5 imports over 1 million barrels of crude oil and petroleum products each day, suggesting that it really is not cut off from the world in the first place. And bear in mind the size of the district that we are talking about. Any stockpile would have to be really enormous to have significant impact. Finally, would Federal gasoline reserves supplement or replace commercial stocks? That is a question that needs to be asked.…”