June 27, 2011

Spending Bill Provision Would Limit Oil Reserve Releases

The Hill, The Hill

House Energy and Commerce Committee Chairman Fred Upton (R-Mich.) is hinting that Republicans upset with the White House decision to tap the Strategic Petroleum Reserve (SPR) could seek to limit future releases with provisions attached to spending legislation. Upton and other senior Republicans say last week's decision to release 30 million barrels of oil from the SPR is a political move at odds with the emergency purpose of the stockpile. Upton, in an interview with energyNOW! airing this weekend, was asked whether he envisions further releases beyond the 30 million barrels, which White House officials aren't ruling out."We will see," he replied, and then suggested that lawmakers could try and step in. "We have got a...

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Related Topics: oil