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US could tap oil stockpiles as prices rise: Obama
March 12, 2011
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WASHINGTON (AFP) – President Barack Obama on Friday said he had “tee-ed up” moves to tap emergency US oil stockpiles, as Middle East violence pushed up gas prices for hard-hit US consumers.
Trying to tamp down concern that oil prices will continue to rise on Middle East unrest, Obama said he was willing to make a rare move to open the strategic reserve, but not yet.
“We are going to try to do everything we can” to stabilize the market, Obama said.
“Everybody should know that should the situation demand it, we are prepared to tap the significant stockpile of oil that we have in the strategic petroleum reserve.”
With Americans struggling with Read more…
Categories: Obama, Oil
economy, Gulf of Mexico, Libya, Lindsey Williams, middle east, North Africa, Obama, Oil, Oil Prices, oil reserves, petroleum, United States



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