Log In | Register
The Department of Energy just issued this news release:
U.S. Energy Secretary Steven Chu announced today that the U.S. and its partners in the International Energy Agency have decided to release a total of 60 million barrels of oil onto the world market over the next 30 days to offset the disruption in the oil supply caused by unrest in the Middle East. As part of this effort, the U.S. will release 30 million barrels of oil from the Strategic Petroleum Reserve (SPR). The SPR is currently at a historically high level with 727 million barrels.
Breaking: U.S. and Allies to Release Oil from Strategic Reserves
Seeded on Thu Jun 23, 2011 6:48 PM EDT
Article Source: Think Progress- Enjoy this article? Help vote it up the 'Vine.
- Public Discussion (1)
Conservatives insist that more offshore drilling will lower prices. But that is the one strategy we know has failed. We tried opening up most of the Gulf of Mexico to offshore drilling two years ago, but oil prices have doubled since then. Ending the moratorium on coastal drilling — where there is maybe one-fifth the oil already available for drilling in the Gulf — offers no realistic hope of reducing oil prices. Indeed, the Bush administration’s own energy experts have made the same point.
- 1 vote
#1 - Thu Jun 23, 2011 6:49 PM EDTYou're in Easy Mode. If you prefer, you can use XHTML Mode instead. |
As a new user, you may notice a few temporary content restrictions. Click here for more info.
