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Posted: 10:45 PM May 1, 2008
Edwards Proposes Tapping Into U.S. Oil Reserves
Congressman Chet Edwards says the time has come for the country to tap into its petroleum reserves. Reporter: Joe BrownEmail Address: brown@kbtx.com |
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Congressman Chet Edwards says the time has come for the country to tap into its petroleum reserves.
With crude closing in on $120 a barrel, Edwards is calling for the immediate release of oil from the nation's Strategic Petroleum Reserve into the open market. He says the increased supply would help halt rising gas prices which are predicted to hit $4 per gallon by summer.
"At a time when costs for groceries, gas, health care, and education keep rising, releasing oil from the Strategic Petroleum Reserve is a common sense first step that will help ease the burden for working families and businesses struggling to make ends meet in today's economy," said Edwards.
The Strategic Petroleum Reserve is currently 97 percent full with more than 700 million barrels of oil. The SPR has been tapped before by President Bush, President Clinton, and former President Bush.
Latest Comments
I agree with Chet. Its about time we do something.
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I didn't vote for Chet. I voted for the other guy. Where are you VAN TAYLOR?!!!
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If things look bad now just think if a Hurricane hits Houston. We need some refinery construction in the USA and some new drilling not some liberal nuts ideas about stopping drilling and using emergency oil storage. Chet will probably come up with a plan to Tax us into prosperity next. Pres. Bush a disappointment on energy.
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