Rockefeller Asks President to Consider Releasing Oil Reserves

With oil prices “rising and key figures such as Federal Reserve chairman Ben Bernanke warning that a continued increase could harm the economic recovery, the chairman of the Senate Commerce Committee today called for President Obama to release national oil reserves,” ABC News reports.

In a letter to the president, Sen. Jay Rockefeller, D-WV, became the latest lawmaker to make the request to the White House, saying he supported “careful use of this important tool” in an effort to “relieve the uncertainty and economic harm happening in our country and around the world.”

“Dramatic shifts in the U.S. and world oil market, ongoing turmoil in Libya and throughout the oil-dominant Middle East and North Africa, prompt me to write today to urge you to prepare for timely release of oil from the Strategic Petroleum Reserve (SPR) in the face of further supply disruptions,” Rockefeller wrote.

Releasing the oil, he said, “is a meaningful way to respond to foreign oil-related crises.”

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Filed under Energy, Letters, White House

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