(The following appeared on the Journal of Commerce website on June 9, 2011.)
WASHINGTON, D.C. — President Obama is keeping open the option of drawing oil out of the U.S. Strategic Petroleum Reserve to drive down gasoline and other fuel prices that economists say have slowed economic growth, the White House said.
Tapping the oil reserve could quickly knock down fuel prices, based on precedent during the Clinton and George W. Bush administrations. That could quickly curb operating costs for truckers, railroads, ship operators and airlines.
Full story: www.joc.com