Tag: U.S petroleum news

Obama Still Examining Tap Petroleum Reserve

WASHINGTON – White House says President Barack Obama is holding open the option to press U. S. Strategic Petroleum Reserve if necessary.  Obama spokesperson Jay Carney said not to decide whether the reserve has been opened. Obama said earlier this year that plans to open a backup ready and it couldhappen sooner if he called it.  The White House said the reserve was designed to handle the distractions, rather thanshort-term fluctuations. Conflict in Libya has calculated a daily loss of 1.6 million barrels …