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Japan weighs oil reserves release to stabilize prices

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Yes, now is the time to release strategic oil reserves.

1 ( +4 / -3 )

My understanding is that generally whenever the United States has done this in the past the government has actually ended up making a profit as they can buy back what they drew down later on when prices are lower. Perhaps Japan can do the same assuming logistic costs involved aren't much higher?

6 ( +7 / -1 )

To lower fuel prices, just remove the extra tax that was added for the Iraq war effort. I think it was about 20 yen a litre and a few years ago was removed. The Gov. decided to reinstate it !

5 ( +6 / -1 )

We got 780 million barrels in Louisiana in our stockpile

-4 ( +3 / -7 )

Yes iam sure that will help to curb global warming and Co2 emissions - great idea !

-3 ( +4 / -7 )

If you can afford to have a car in Tokyo, you don’t need government help..

1 ( +7 / -6 )

Gasoline companies are gouging customers left right and center to make up for the lose pf sales during the State of emergency in 2020 and early 2021, the government knows it but they can't bark at the big dogs.

Yes there is shortage due ti high demand and lockdowns, but Japan has plenty of supply and there should be NO REASON to raise prices except GREED.

4 ( +4 / -0 )

Good news.

Hopefully this decision made by the US and Japan to use up their reserves will send prices of oil plummeting, and financially damage the oil producers in the middle east.

3 ( +4 / -1 )

YrralToday  08:00 am JST

We got 780 million barrels in Louisiana in our stockpile

So?

If anyone has been to Okinawa, you may have seen the very large strategic reserve of oil that Japan has.

One of the basic charter items for the BOJ is to try to maintain price stability. These are the times that government is supposed to act.

2 ( +4 / -2 )

There are, however, voices in the Japanese government cautioning against releasing oil reserves at times other than supply shortages, officials said.

Well, obviously these " voices" of pampered elite bureaucrats and politicians are far removed from the troubles of the average Keiko trying to scrape by , now having to deal with gas prices that have risen 50% when filling up her car. Take your caution" and stuff it, blue blood fatcats.

One of the basic charter items for the BOJ is to try to maintain price stability. These are the times that government is supposed to act.

Amen.

-2 ( +2 / -4 )

MoskolloToday  09:57 am JST

If you can afford to have a car in Tokyo, you don’t need government help.."

Not sure if you are aware but quite a few people on this island dont live in Tokyo and need a car on everyday basis to get around. Yep...Its a strange world.

2 ( +4 / -2 )

Hopefully the policy will achieve its desired effects and be beneficial to the citizens. Wisdom should prevail in public affairs.

1 ( +1 / -0 )

The US is fighting inflation and is asking OPEC, China, India, and Japan to release oil reserves. The Arabs have rejected the request. China will ignore this. Japan has no choice and India will be pressured.

Stockpiles of every nature are for emergencies, not for price control, especially when an abundance of oil is available for SALE and PROFIT for these countries. Again, a thought pops out of brazen Biden’s head and is not thought through: asking for help yet boycotting the Olympics.

-1 ( +0 / -1 )

Basically, the US ordered its client states. Japan merely obliges to help the US and itself.

It is inevitable!

-2 ( +1 / -3 )

The cure for high prices, is high prices.

Normally, anyway. US oil production seems to be in a slump at the moment, not bouncing back with the rest of the economy from the coronavirus blip. Why wouldn’t US oil production be ramping up again? Is it because they have started turning green? In which case, lower production is supposed to be good…. Except for the high prices part? Not sure what the overall strategy for energy is supposed to be these days.

0 ( +0 / -0 )

American oil companies trying to make bigger profits and pumping less oil.

-1 ( +0 / -1 )

What many people forget is that it is not only gasoline that is rocketing up but also home heating kerosene, which is really hurting a lot of people as the weather turns cooler. Also farmers who need heavy oil to heat greenhouses to grow produce are also hurt by this.

I read an article that Saudi is doing this to spite Biden who has snubbed the Saudi Prince MBS over the killing of the Saudi journalist. Interesting, if it is true. Not much anybody can do about it.

1 ( +1 / -0 )

read an article that Saudi is doing this to spite Biden who has snubbed the Saudi Prince MBS over the killing of the Saudi journalist.

That must be why Biden is pushing for a 650 million arms transfer to Saudi Arabia.

0 ( +0 / -0 )

"If you can afford to have a car in Tokyo, you don’t need government help.."

Not everyone lives in Tokyo. There are many people who NEED cars for their lives be it for work, or family, or place of residence.

0 ( +0 / -0 )

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