U.S. Senate Halts Oil Reserve Shipments

May 13, 2008 12:00:00 AM PDT
The U.S. Senate is directing President Bush to temporarily halt the shipment of oil to the government's emergency reserve. Democrats and Republicans said such shipments make no sense when oil is costing more than $120 a barrel. They say the oil could better be used to add supplies to a tight market and possibly lower prices.

President Bush has said the 70,000 barrels of oil being diverted to the reserve is such a small amount that it does not affect energy markets.


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