White House won’t tap oil reserves

WASHINGTON – The White House on Wednesday ruled out a release of fuel from the nation’s oil reserves to drive down soaring prices.

“This president would not use the (Strategic Petroleum Reserve) to manipulate (prices) unless there was a true emergency,” said White House press secretary Dana Perino. “Right now we understand that prices are high and demand is extremely high.”


She said Bush was focused on ways to increase oil supply in the United States.

“Doing a temporary release of the SPRO (strategic reserve) is not going to change prices very much,” she said. “We know that from past experience.”

AP