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"We've always said that the Strategic Petroleum Reserve was set up to protect against physical disruptions of oil supplies, such as national emergencies or natural disasters, and not to manipulate prices of oil for political purposes, and certainly Hurricane Ivan had an effect on the temporary supply of oil imports and production,"
Press Secretary Scott McLellan
"We will not play politics with the strategic petroleum reserve," Bush told reporters at the White House after a cabinet meeting.
Originally posted by Nerdling
"We've always said that the Strategic Petroleum Reserve was set up to protect against physical disruptions of oil supplies, such as national emergencies or natural disasters, and not to manipulate prices of oil for political purposes, and certainly Hurricane Ivan had an effect on the temporary supply of oil imports and production,"
Press Secretary Scott McLellan
Energy Secretary Abraham - Today - CNN
The federal government said Thursday it plans to loan out a limited amount of crude oil from the nation's strategic reserve in a bid to offset shortages caused by Hurricane Ivan.
The move comes less than six weeks ahead of the presidential election, and could help ease oil shortages and rising gasoline prices in Florida, Louisiana and other battleground states.
The Energy Department said it would negotiate with companies whose oil refineries were affected by the storm.
"I have authorized these negotiations in response to the physical disruption of offshore oil production and imports in the Gulf Region caused by Hurricane Ivan's destruction," said Energy Secretary Spencer Abraham in a statement.
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However, many see this action as a good call for the Bush administration as the oil is being released in an emegency condition and is not intended to drive the price of oil down. However, if it does draw the price of oil down then theres plenty more left in the SPR before November. The reserve holds supplies for 34 days of normal consumption for the entire United States.
from Bout Time
This man has changed directions more times than a weather vane in a hurricane!
There have been no flip flops by Kerry , just blatant misquotes & piecemeal soundbytes attreibuted to him. Bush, on the other hand, has reversed nearly everthing that he's strongly weighed in on.
The federal government said Thursday it plans to loan out a limited amount of crude oil from the nation's strategic reserve in a bid to offset shortages caused by Hurricane Ivan.
"The idea of emptying the strategic petroleum reserve ... would put America in a dangerous position in the war on terror," he said.