Graham Votes to Suspend Placing Additional Oil into Strategic Petroleum Reserve
Graham Votes to Suspend Placing Additional Oil into Strategic Petroleum Reserve
WASHINGTON – U.S. Senator Lindsey Graham (R-South Carolina) today voted to suspend placing additional oil into the Strategic Petroleum Reserve (SPR). The suspension, which passed by a vote of 97-1, will last until the end of the year or until the price of oil has fallen below $75 a barrel for 90 days.
“With oil at $126 a barrel, it makes little sense to put additional oil into the national strategic petroleum reserve right now,” said Graham.
The SPR, under the direction of the Department of Energy, currently purchases about 70,000 barrels of oil each day. The reserve is currently 97 percent full.
Graham has also spoken in support of efforts to suspend the $18.4 cents a gallon federal gas tax during the summer months.
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