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Obama releasing 30M barrels from US oil reserves
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| Parent(s) |
Issue
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| Contributor | RP |
| Last Edited | RP Jun 23, 2011 03:13pm |
| Logged |
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| Category | General |
| Author | MATTHEW DALY |
| Media | Website - Yahoo News |
| News Date | Thursday, June 23, 2011 09:00:00 PM UTC0:0 |
| Description | Wary of a new surge in gas prices, the Obama administration said Thursday it is selling off 30 million barrels of oil from the country's emergency reserves as part of a broader international response to lost oil supplies caused by turmoil in the Middle East and North Africa, particularly Libya.
The release from the U.S. Strategic Petroleum Reserve will be the largest ever, amounting to half of a 60 million-barrel international infusion of oil planned for the world market over the next month. |
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