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Obama about-face: Tap U.S. oil reserves

August 5th 2008 17:37
Obama on American Energy Issue
Some real oil issue


In a reversal, Barack Obama proposed Monday that the government sell 70 million barrels of oil from its strategic petroleum stockpile to help reduce gasoline prices.


The Democratic presidential candidate said in a major energy speech that in the short-run the move could help drive down gasoline prices that now top $4 a gallon. Previously, Obama opposed tapping into the reserve, located in caverns in Texas and Louisiana.

Past releases from the reserve have "lowered gas prices within two weeks," Obama said.
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Posted By: Adepoju Paul Olusegun - Category: No Category
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