The following is an excerpt from Siobhan Hughes | February 26, 2012 | WSJ.com |
A political battle over high oil prices deepened on Sunday, with a senior campaign adviser to U.S. President Barack Obama suggesting that the White House might be considering whether to release oil from the nation’s emergency stockpile.
“I know that the White House is going to look at every available option in the short- and the long-term,” campaign adviser Robert Gibbs said on CNN’s “State of the Union. But he said he was “no longer in those meetings” where policies on releasing oil from the Strategic Petroleum Reserve are discussed. He said that “we’re not going to magically make this problem disappear.”
On Friday, Treasury Secretary Timothy Geithner suggested something similar, saying on CNBC that “There is a case for the use of the reserve in some circumstances and we will continue to look at those and evaluate that carefully.” He also said…
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