Senator: Halt Expansion of Oil Reserves

[jpak]

http://www.lasvegassun.com/sunbin/stories/bw-cong/2007/jun/18/061805510.html

WASHINGTON (AP) - A Senate Democrat is aiming to halt expansion of the country's oil reserves for one year, saying it makes no sense when oil prices are high.

North Dakota Sen. Byron Dorgan said he will include the proposal as part of an energy and water spending bill to be considered next week.

The Strategic Petroleum Reserve now contains 690 million barrels of oil and has a capacity of 727 million barrels. The energy law signed by President Bush in 2005 directs the government to expand that capacity to 1 billion barrels, and Bush has requested $168 million in the next budget year to begin that expansion.

Bush has proposed expanding the reserve even more, calling for a reserve that can hold 1.5 billion barrels and is filled by 2027.

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[Javaman]

1. Won't make much of a difference whether we halt it now, next year or 5 years from now...

it's a finite resource and it's running out.