Results by Google
Home Consumer 

Story

Bipartisan Vote Halts Adding Oil To Reserve

Obama, Clinton Part Of 97-1 Vote

Tuesday, May 13, 2008 – updated: 1:34 pm EDT May 13, 2008

The Senate is directing President George W. Bush to temporarily halt the shipment of thousands of barrels of oil a day to the government's emergency reserve.

Both Democrats and Republicans said such shipments make no sense when oil is costing more than $125 a barrel and could better be used to add supplies to a tight market and possibly lower prices. Senators voted 97-1 Tuesday to suspend the shipments until the end of the year.

The House is set to vote on a similar directive later Tuesday.

Bush has been steadfast in continuing shipments of oil to the Strategic Petroleum Reserve.

Video footage showed both Democratic presidential candidates Hillary Rodham Clinton and Barack Obama on the Senate floor to take part in the vote.

Bush has said the 70,000 barrels of oil being diverted to the Strategic Petroleum Reserve is such a small amount that it does not affect energy markets. Many senators disagreed.

Oil prices had been up more than $2.25 per barrel in trading Tuesday and dropped almost a dollar shortly after the vote was announced.

More Headlines

Unclaimed Money

Do you have unclaimed funds? Check out this website and see if you are entitled to some money. Full Story ››
State of Indiana: Unclaimed Funds

Survey

How much longer do you think the recession will last?

Wastebusters

News Center 7's Jim Otte and his Wastebuster's team uncover government waste and abuse from around the state and in the Miami Valley.

Provide Your Feedback

Are you having to change your lifestyle because of the economy? Share your story on how you're making adjustments. Full Story ››

Local Deals