Tuesday, April 25, 2006

Under Pressure, Bush Diverting Oil From Reserve to Pumps

President Bush has decided to temporarily halt deposits to the nation’s strategic petroleum reserve to make more oil available for consumer needs and relieve pressure on pump prices, a senior administration official said Tuesday

Bush, under pressure to do something about gasoline prices that are expected to stay high throughout the summer, was to announce the decision in a speech. It was part of a flurry of actions designed to demonstrate that the administration was trying to deal with rising prices. The government also asked states on Tuesday to guard against unfair pricing.

The president has also order investigations into whether the price of gasoline has been illegally manipulated.

FULL STORY

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