Is oil reserve out-of-date?
Joe Romm of the Center for American Progress states that the Strategic Petroleum Reserve is not strategic, saying it was created at a time when the United States feared other countries withholding oil and that the failure of a price decrease after releasing oil from the Reserve would show that the Reserve is “useless.” Romm questions when the Reserve would be used if not now. (0:38)
July 23, 2008
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- Oil reserve challenged in House
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- President Bush announced temporary suspension of deposits to the Strategic Petroleum Reserve at the Marriott Wardman Park Hotel in Washington DC.
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