Energy Department Cancels Oil Shipments Into Government Reserve

By: Associated Press Email
By: Associated Press Email

Washington (AP) The Bush administration says it's suspending oil deliveries to the strategic petroleum reserve for the rest of the year.

The follows congressional passage of a bill requiring a temporary halt in the shipments in hopes of easing the pressure on gasoline prices.

President Bush had opposed halting the shipments, arguing that such a relatively small amount of oil would not influence prices. Current shipments will continue. The reserve is 97 percent full, holding 701 million barrels of crude.

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