US President Defends Decision to Tap Oil Reserve

Published September 23rd, 2000 - 02:00 GMT
Al Bawaba
Al Bawaba

US President Bill Clinton Saturday defended his decision to tap into the country's strategic oil reserve to avoid a surge in home heating oil prices during the coming winter. 

"This is the right thing to do, it is good energy policy, good national security policy and good family policy," Clinton told the press at the White House. 

Clinton also announced a series of measures to further ease pressure on those needing heating oil to heat their homes, including 400,000 dollars in energy assistance for low-income families. 

He also directed federal agencies to make early commitments to purchase heating oil throughout the winter "so the wholesalers will have the confidence to build inventories in advance." 

"The overriding purpose for our action is to increase supply and help consumers make it through the cold winter," he said. "Families shouldn't have to drain their wallets to drive their cars or heat their homes." 

The president denied the move was primarily political after his vice president, and presidential candidate, Al Gore, had called on the United States to release the oil.  

Gore's rival for the White House, Texas Governor George W. Bush, has called the move a bad idea. 

Clinton mocked his Republican critics, saying he doubts "they are relying on home heating oil this winter." 

Energy Secretary Bill Richardson announced Friday that the Clinton administration would tap 30 million barrels of oil from the US strategic oil reserve over 30 days -- WASHINGTON(AFP)  

 

 

© 2000 Al Bawaba (www.albawaba.com)

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