White House Announces Plan to Tap Oil Reserve
Neela Banerjee, The Los Angeles Times: "The Obama administration announced Thursday that it planned to release 30 million barrels of oil from the Strategic Petroleum Reserve, as part of a coordinated international effort to drive down high crude prices and revive the flagging economic recovery in the world's most industrialized countries. The oil will be released over the next 30 days, according to Energy Secretary Steven Chu, constituting half the 60 million barrels that the nations in the International Energy Agency plan to bring to market."
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