NEWS BRIEF: "Congress votes to stop filling oil reserve", San Francisco Chronicle Online, May 14, 2008

"The House and Senate voted overwhelmingly Tuesday to temporarily stop filling the Strategic Petroleum Reserve, a response to public anger over rising oil prices as the average price of regular unleaded gasoline nationwide hit a new high of $3.73 per gallon ... The move was a challenge to President Bush, who had threatened to veto the measure, saying it would do little to lower prices. But the lopsided votes - 97-1 in the Senate and 385-25 in the House - may have changed his mind. "

"Lawmakers acknowledged the measure may shave just pennies off the price of a gallon of gas, but said it is wrong to keep filling the emergency stockpile - which is 97 percent full - while crude oil is reaching record highs."

Late last year, President Bush was urged by lawmakers to stop filling the Strategic Reserve at a time when oil prices were skyrocketing. It made no sense to add further demand for oil at a time like this. However, Bush refused to consider it, and continued to add oil to the national reserve, even at these ridiculous prices.

You see, the original idea behind the Strategic Oil Reserve was that the Federal Government would add to the Reserve gradually, trying to buy oil at times when prices were at a lower price. The intent was never to add oil at a time when prices were at unprecedented levels.

Then, when you realize that the Reserve is 97% full, you have another reason to be perplexed. Bush is adding to the Reserve when there is no emergency on the horizon. This sad fact just continues to add depth to our understanding that the Federal Government is complicit in the forces which are driving up oil prices to unprecedented levels.