US Energy Department cancels oil shipments into government reserve
By JERUSALEM POST STAFF
Responding to congressional pressure, the Bush administration on Friday said it is suspending oil deliveries into the U.S. government's Strategic Petroleum Reserve for the remainder of the year.
The move came days after Congress passed legislation requiring President George W. Bush to temporarily halt shipments into the reserve in hopes of lowering gasoline prices. The president is expected to sign the bill.
The decision came as Bush, visiting Saudi Arabia, sought to get the Saudis to pump more oil. Saudi Arabia announced it decided a week ago that it increase production by 300,000 barrels a day in response to customer requests, although it also told U.S. officials it believes world supplies are sufficient to meet demand.
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