House votes to stop adding to oil stockpile

[maddezmom]

Source: Rueters

WASHINGTON (Reuters) - The House of Representatives on Tuesday followed the Senate in rejecting the Bush administration's policy of adding oil to the country's Strategic Petroleum Reserve while fuel prices are high.


The House passed legislation that would suspend crude deliveries to the U.S. emergency oil stockpile while the price of oil was above $75 a barrel, a move the White House has opposed. Oil traded at a record near $126 a barrel on Tuesday.

~snip~

Like the Senate's legislation, the 385-to-25 vote in favor of the bill in the House was big enough to override a possible presidential veto of the measure.



Read more: http://news.yahoo.com/s/nm/20080513/pl_nm/congress_oil_spr_dc;_

[mbperrin]

1. Good,a start at reducing demand!

Now more. Let's give $20,000 vouchers to any family who'll use to buy a completely electric car recharged by windmill or solar panel.

[pinto]

2. Kick. One small reality check.

:kick:

[liberal N proud]

3. Of course the bu$h regime was opposed

Their cronies have been making a killing selling us oil

[lostinacause]

4. Strange. It appears Bush has it right...

and all of the presidential hopefuls have it wrong. I wonder if the upcoming election had anything to do with the overwhelming success of the legislation. A vote against such a policy could be spun as a vote for high gas prices.

It would be good to see someone look for a solution to the inevitable era of high gas prices rather then looking to short term solutions to temporarily lower the price in exchange for votes. I really hope that we do not see a event like Katrina or another oil embargo any time soon.

[bbinacan]

5. If I recall, when oil was released

from the SPR, many economists and many on DU said it was only a drop in the barrel and would do nothing for oil prices long term. How is this any different?

[coriolis]

6. No different really...it won't affect the price of gas more than a couple cents

and will just kick the can on down the road a bit.

[Joanne98]

7. GOOD!

[Trillo]

8. Is that a spine?

Congress getting tired of Executive Privilege?

[Mojorabbit]

9. I think it is posturing

I don't think we will see oil under seventy five dollars a barrel.