Diesel Again Sets Record; Clinton Mulls Oil Release
The price of diesel fuel jumped 2.4 cents to the fourth consecutive record high while the price of oil seesawed against a backdrop of rising pressure on the White House to pump oil from the nation’s Strategic Petroleum Reserve into the volatile market.
As the week drew to a close, the chorus urging the president to bring prices down with a sudden infusion of oil from the SPR was joined by members of Congress, the trucking industry, Energy Secretary Bill Richardson and Vice President Gore.
“We ought to start with several releases of 5 million barrels each and, assuming that is successful, we should continue with these swaps in an effort to stabilize the price of oil at lower levels and help consumers,” he said.
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| What is the SPR? | |
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In a campaign speech at Hollywood, Md., on Sept. 21, Gore, who is running for president, suggested that President Clinton launch a series of test releases of crude oil from the SPR.
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