Bush authorizes oil release from Strategic Petroleum Reserve
Thursday, September 1, 2005
The decision was made late Tuesday and announcement was made Wednesday.
The Strategic Petroleum Reserve consists of 700 million barrels of oil located in salt caverns along the Texas and Louisiana coast. The Strategic Petroleum Reserve is meant to act as a cushion for the oil market during disruptions of energy.
Energy production was interuppted by Katrina as more than 735 oil and Gulf of Mexico.rigs had to be evacuated. This shut down 95 percent of production and 88 percent of natural gas output in the
- "US to release oil from Strategic Petroleum Reserve" — , August 31, 2005
- "Administration Reportedly Will Tap Strategic Petroleum Reserve" — , August 31, 2005
- Tom Raum. "Bush Hints at Possible Higher Gas Prices" — , September 1, 2005
- "US to tap Strategic Petroleum Reserve-Energy Secy" — , August 31, 2005
- "Bush says US govt will release crude from stockpile" — , September 2, 2005
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