Edwards Proposes Tapping Into U.S. Oil Reserves

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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.