Monday
Mar072011
White House Contemplating Tapping Into Strategic Oil Reserves
Monday, March 7, 2011 at 9:48AMThe White House is contemplating tapping into the country’s strategic oil reserves in an effort to counter the spike in energy costs amid the unrest in Libya.
“Well, we’re looking at the options,” White House Chief of Staff Bill Daley said Sunday on NBC’s Meet The Press. “It is something that … has been done in very rare occasions.”
Added Daley, “There’s a bunch of factors that have to be looked at, and it is just not the price.”
The price of crude oil has risen above $106 per barrel in response to the uncertainty surrounding unrest in Libya and other countries.
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