Strategic Petroleum Reseve
It wasn't that long ago, during the 2004 election campaign, in fact, that President Bush was criticized for continuing to replenish the Strategic Petroleum Reserve in the face of rising fuel prices. Even the WSJ acknowledged at the time that the millions of barrels the federal government was buying for the SPR was having an effect on the global supply and therefore prices, for as long as the refilling lasted.
A March, 2004 press release by Sen. Chuck Schumer even urged Bush to release some oil from the SPR because gasoline had reached an "all time high" (untrue) of -- $1.74 a gallon!
I wonder -- do these Bush critics still believe that filling the SPR last year was a mistake?
A March, 2004 press release by Sen. Chuck Schumer even urged Bush to release some oil from the SPR because gasoline had reached an "all time high" (untrue) of -- $1.74 a gallon!
I wonder -- do these Bush critics still believe that filling the SPR last year was a mistake?
