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Watching Government: Behind the SPR release

07/04/2011
Nick SnowWashington EditorIt would be challenging to find another recent energy move by the administration of US President Barack Obama that was more quickly criticized by so many different people than the June 23 announcement that it would release 30 million bbl of oil from the nation's Strategic Petroleum Reserve.Many congressional Democrats said it should have happened months earlier. Republicans said it was obviously a political move. Oil and gas industry associations said it was completely unnecessary since supplies were ample and prices were easing down.The official explanation was that the US was releasing SPR stocks as part of a 60 million bbl action by the International Energy Ag...
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