Because Middle Eastern turmoil is inflating the price of oil, leading to runaway gas prices that are in no way examples of gouging, the government is considering turning toward its own petroleum stockpile.
The AP reports President Barack Obama’s chief of staff says the option to tap the country’s 727 million barrel-strong petroleum reserve is on the table as a price-controlling option:
“We’re looking at the options. It is something that only is done – and has been done – in very rare occasions. There’s a bunch of factors that have to be looked at. And it is just not the price.”
What measures — if any — do you think the government should take to control gas prices?
U.S. Considering Tapping Oil Reserves As Gas Prices Rise [AP via Huffington Post]