Ata President Graves urges President Bush to release oil from Reserve
ATA President and CEO Bill Graves Monday urged President Bush to release oil from the Strategic Petroleum Reserve in an attempt to break the current run-up in crude oil prices before they further constrain the US economy.
The US is releasing 30 million barrels of oil from the Strategic Petroleum Reserve as part of an international effort to make up for disruption in Libya's oil production, a decision aimed at increasing supply ahead of the nation's summer driving season, Obama administration officials said Thursday.