Senate Votes to Stop Putting Oil in National Reserve

The U.S. Senate and House have voted to hault oil shipments into the government's emergency petro...  More »

The U.S. Senate and House have voted to hault oil shipments into the government's emergency petroleum reserve. The Senate version of the bill, introduced by Senator Byron Dorgan, passed the senate today by a vote of 97-1. The House version passed 385 to 25. Senator Dorgan says the reserve is 97-percent full and that it makes no sense to continue conserving oil when it could possibly help lower prices at the pump. Dorgan calls it nuts. Sen. Dorgan:The senate said to the president stop putting oil underground when the price of gas is nearing $4.00 a gallon makes no sense at all and I'm really pleased with the senate vote, it's a step in the right direction, we don't claim it's a giant step but we do claim it's a step in the right direction that will put downward pressure on Gas Prices and downward pressure on oil prices. President 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 from both parties disagree. The Strategic Petroleum Reserve contains 701 million barrels of oil.  « Less