Obama May Dip Into Oil Reserves

The Obama administration is considering dipping into the U.S. strategic oil reserve to try to slow down runaway gas prices.  White House Chief of Staff Bill Daley said all options are on the table.

The Strategic Petroleum Reserve is an emergency supply of oil which is overseen by the Department of Energy.  It’s the largest emergency supply of oil in the world. Daley also says dipping into the U.S. strategic oil reserve to try to slow down runaway gas prices is being looked at.

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