Tags: strategic | oil | reserves | obama

White House: Tapping Strategic Oil Reserve an Option

Wednesday, 29 Aug 2012 03:41 PM

The White House reiterated on Wednesday that the option of releasing oil from the Strategic Petroleum Reserve remained on the table but it had no announcements to make about a move.

"As I have said for some time now, all options are on the table with regard to this issue," White House spokesman Jay Carney told reporters, echoing a similar statement he made on Tuesday.

Carney said the United States along with its G7 and G8 partners were watching the effects of global oil prices on the world economy.

"We continue to do that, but I have no announcement," Carney said.

The White House seriously considered a plan in the spring to tap the SPR but shelved it after oil prices came down.

The United States and international partners are now considering those plans again, following a potential oil supply disruption from Hurricane Isaac as a possible reason for action.

© 2015 Thomson/Reuters. All rights reserved.

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