House Dems Urge Obama To Tap US Oil Reserves

Law360, New York (April 13, 2012, 5:35 PM EDT) -- U.S. House Democrats on Friday urged President Obama to consider tapping the U.S. Strategic Petroleum Reserve in order to prevent runaway gas prices during the summer driving season fueled by speculation in the oil markets due to unrest in the Middle East.

A letter signed by 54 Democratic lawmakers, led by House Natural Resources Committee Ranking Member Edward Markey, D-Md., said releasing oil from the Strategic Petroleum Reserve could combat speculators capitalizing on fear in the oil markets and send a message to Iran — the...
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