Reid Calls on Bush to Draw From Oil Reserves

Posted July 10, 2008 at 9:48am

Senate Majority Leader Harry Reid (D-Nev.) took to the Senate floor Thursday morning and demanded that President Bush use some of the oil in the government’s gasoline reserves to reduce the high gasoline prices.

Reid joined his House colleague, Speaker Nancy Pelosi (D-Calif.), in calling for the president to use the Strategic Petroleum Reserve to help lessen the burden at the gas pump, saying that the record-breaking oil prices are an “emergency.”

“Why do we fill it? For emergencies. I think emergencies like this. … Once you start tapping that, the price of gasoline goes down very quickly,” Reid said.

President Bush has been hesitant to tap into the SPR, arguing that it should only be used in cases of emergency, particularly natural disasters.

Reid’s request comes as Senate Republicans have established a bipartisan group with moderate Democrats that seeks a compromise on energy issues.

Reid said that the group was definitely “helpful” but that he would also seek an alternative plan to address the gasoline prices.