Rep. Welch - Suspending the Strategic Petroleum Reserve

[L. Coyote]

Run time: 02:42 https://www.youtube.com/watch?v=3lFB1OaNzxE   Posted on YouTube: May 13, 2008 By YouTube Member: Views on YouTube: 0   Posted on DU: May 15, 2008 By DU Member: L. Coyote Views on DU: 236

 
The House debates the Strategic Petroleum Reserve Fill Suspension and Consumer Protection Act, H.R. 6022. The measure suspends the fill of the Strategic Petroleum Reserve through the end of the year, as long as the price of crude oil remains above $75 per barrel. Last week, President Bush said he doesn't "think it would affect price," but in 2006, as he was about to stop the addition of 1.7 million barrels of royalty-in-kind (RIK) oil to the SPR to combat rising gas prices, President Bush said, "One way to ease price is to increase supply.... I've directed the Department of Energy to defer filling the reserve this summer. ... So by deferring deposits until the fall, we'll leave a little more oil on the market." The bill is supported by the American Truckers Association, Air Transport Association, Public Citizen, Sierra Club and the Center for American Progress. Rep. Peter Welch, a sponsor of the bill, speaks in favor.

Senate rejects opening ANWR = 97-1 vote favors suspending reserve deposits.
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x3287124