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Senate moves to bolster gas supply
05/14/2008 09:10:21
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| Senator Dick Durbin says adding to the petroleum reserve now is driving up gas prices. |
By Illinois Radio Network
The U.S. Senate is directing President Bush to temporarily halt the shipment of thousands of barrels of oil a day to the government's emergency reserve. Senator Dick Durbin says continuing to fill the strategic reserve is making the gas price situation even worse.
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Both Democrats and Republicans said such shipments make no sense when oil is costing more than $120 a barrel and could better be used to add supplies to a tight market and possibly lower prices. Senators voted 97 to 1 yesterday to suspend the shipments until the end of the year.
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.
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