Obama Releases Oil From Reserves
Utica, NY (WIBX) – Senator Gillibrand is applauding President Obama’s decision to release 30 million barrels of oil from the Strategic Petroleum Reserve.
As gas prices rose more than a dollar a gallon in the past year, Gillibrand says the last thing this economy needs is the price of gas to continue to skyrocket.
The last release from the Reserve was after Hurricane Katrina in 2005, which caused gas prices to drop by nine percent.
Gillibrand goes on to say, “This release will stabilize gas prices and provide crucial relief to families here in New York and across the country.”
The SPR is at a historically high level of 727 million barrels.