Wednesday, April 30, 2008

Veto proof SPR Bill


WASHINGTON (Dow Jones)--A bill that would force the Bush administration to temporarily halt filling of the nation's emergency crude stocks to help ease oil and gasoline prices has a veto-proof majority, the bill's sponsor said Tuesday.

President George W. Bush earlier in the day rebuffed a bipartisan call from lawmakers to stop diverting oil into the Strategic Petroleum Reserve at a time when oil prices have traded to record highs near $120 a barrel.

But Sen. Byron Dorgan, D-N.D., said that his proposal - which would halt diverting oil to the SPR when oil trades above $75 a barrel - could overcome the president's objections based on support from 51 Democratic senators and the 16 Republican senators who urged the president to pause the policy.

An official in Dorgan's office said the senator may try to attach the proposal as an amendment to the Federal Aviation Administration reauthorization, which the Senate is expected to debate later Tuesday, with a vote possibly Wednesday.

"I welcome the bipartisan support for my plan to stop filling the Strategic Petroleum Reserve and hope President Bush and the Department of Energy will come to their senses and join the effort to bring some relief to those who are suffering from pain at the gas pump," he said in a press release.

Presidential candidate Sen. John McCain, R-Ariz., Sen. Kay Bailey Hutchison, R-Texas, chairwoman of the Republican Policy Committee, and 14 other Republican senators have urged the administration to halt deposits of crude oil.

In the House, Speaker Nancy Pelosi, D-Calif., has also called for a suspension of the fill policy.


Anonymous said...

And when does Dorgan thing that Oil is going to be back below $75 a barrel?

Dorgan is an idiot, not just cause of stupid things like this... This will have zero impact on my gasoline prices, but ignorant Americans will eat it up....

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