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The move came days after Congress passed legislation requiring the president to suspend the shipment into the reserve in hopes of lowering gasoline prices.
The Energy Department said it will not sign contracts for new shipments of 76,000 barrels of oil a day for the six-month period beginning July 1. 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.
It's an amount which will allow the government to lower prices in tome for the November elections. I hope everyone will remember this!!