WASHINGTON, D.C. – Today, U.S. Senator John Barrasso (R-Wyo.) released the following statement regarding reports that the White House will release oil from the Strategic Petroleum Reserve (SPR) this summer:

“The Strategic Petroleum Reserve is for emergencies – not political disasters.  The Obama Administration still has not refilled the over 30 million barrels of oil it released from our emergency supply almost a year ago.  Instead of manipulating the SPR, the White House should approve the Keystone XL pipeline, increase domestic energy exploration, cut red tape, and stop the EPA from shutting down American refineries.”

BACKGROUND

On February 28, 2012, the Senate Republican Policy Committee released an analysis on the Strategic Petroleum Reserve.  It explains:

• The High Cost of a Political Raid on the SPR
• The Potential Harm to Economic and National Security
• The Release Would Not Lower Prices
• A Political Raid Could Actually Benefit Speculators
• A Temporary Political Fix is not a Long-Term Supply Policy

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