WFTV.comMoney
Related To Story
Martin Rose/Getty Images
OIL PRICES
FROM OUR PARTNERS

Bipartisan Vote Halts Adding Oil To Reserve

Obama, Clinton Part Of 97-1 Vote

POSTED: 12:24 pm EDT May 13, 2008
UPDATED: 1:34 pm EDT May 13, 2008

The Senate is directing President George W. Bush to temporarily halt the shipment of thousands of barrels of oil a day to the government's emergency reserve.

Both Democrats and Republicans said such shipments make no sense when oil is costing more than $125 a barrel and could better be used to add supplies to a tight market and possibly lower prices. Senators voted 97-1 Tuesday to suspend the shipments until the end of the year.

The House is set to vote on a similar directive later Tuesday.

Bush has been steadfast in continuing shipments of oil to the Strategic Petroleum Reserve.

Video footage showed both Democratic presidential candidates Hillary Rodham Clinton and Barack Obama on the Senate floor to take part in the vote.

Bush has said the 70,000 barrels of oil being diverted to the Strategic Petroleum Reserve is such a small amount that it does not affect energy markets. Many senators disagreed.

Oil prices had been up more than $2.25 per barrel in trading Tuesday and dropped almost a dollar shortly after the vote was announced.


Market Place

Sponsor Links

Links We Like
Sponsored Content
Want to make your home look better in an instant? Find out how to get instant curb appeal. More Details

Learn about all of the most common cancers and what you can do to prevent them from affecting you or someone you love. More Details

You’ve got lots of different interests so put them to work by turning them into a fun and lucrative career. More Details

If you find yourself looking at a number of career opportunities and you are unsatisfied with the salary for each position, you are likely to find that your best option is to advance your education.More Details

Like online video? Then you'll love Now See This.

Links We Like includes a selection of information, tools and resources from our partners and sponsors.

Stock Quotes

GET A QUOTE
Enter Symbol

Strange News Photos

From brilliant to bizarre, this 99-photo slideshow captures a variety of strange news. New photos are added frequently, so prepare to be shocked and amused. Take A Look!

Low Interest Credit Cards

Low Interest Rate Credit Cards
And not just because plastic outweighs paper. Low interest credit cards offer lower APRs, which means more of your money stays in your wallet. More Details!
CreditCards.com

Credit Center

Most Americans Score 692. Where Do You Rank? Find out Instantly and Online - $0. More
Experian

Best Local Rates On...



LocalNational

30 Yr Fixed Mortgage6.32%6.39%

48 Mo New Car Loan7.26%6.87%

$30k Home Eq Loan7.38%7.56%

6 Month CD3.12%3.10%
Help! I don't understand!
All Rates


Buylines

Back To Top