Obama: Sell Strategic Petroleum Stockpiles

White House Presidential The Illinois Senator says it's a move that could help drive down soaring gas prices. He had previously opposed tapping into the oil reserves

by The Associated Press

Published: Mon, August 04, 2008 - 10:24 am CST Last Updated: Mon, August 04, 2008 - 10:28 am CST

LANSING, Mich. (AP) - In a reversal, Barack Obama is proposing
the government sell 70 million barrels of oil from its strategic
petroleum stockpiles.
The Democratic presidential candidate says that move could help
in the short-run to drive down gasoline prices that now top $4 a
gallon. The proposal came in a major energy speech Obama has
delivered Monday in Lansing, Mich. Previously, Obama opposed
tapping into the reserves, located in caverns in Texas and
Louisiana.
The Illinois Democrat says releases from the reserve in the past
have lowered gas prices within two weeks.
Obama said U.S. politicians have failed for three decades to
deal with the energy crisis, and he said his GOP rival John McCain
has been part of that failure.

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rosepetal Says:

Mon, Aug 04, 2008 at 3:11 pm

LPJ1959 , obama is a empty suit. he is nothing. i guess O stands for oil now.

BamaBob Says:

Mon, Aug 04, 2008 at 1:27 pm

Why did the democratic congress go on vacation without addressing the energy crisis?
. Don’t confuse empty promises as doing something to help. Nothing is going to happen about anything until members of congress realize their jobs are on the line.

LPJ1959 Says:

Mon, Aug 04, 2008 at 1:22 pm

At least he is trying to help that is more than the rest are trying to think about why hasent
bush tryed this to help but no he giting rich on hie gas prices.

BamaBob Says:

Mon, Aug 04, 2008 at 1:01 pm

I’ve heard republicans also suggest lowering the national reserves, but I sure would like to know more about this idea. Something about it seems to go against common sense.
. We are at war in the Middle East. We import a lot of oil from the Middle East. What happens if that war should intensify given Iran’s refusal to shut down nuclear weapons development? How do we replenish the oil reserve and keep our military mobility intact, if we are not going to up production in this country?