Is the S.P.R. a Strategic "Political" Reserve?

Daily Caller - The White House announced today a large-scale release of oil from the Strategic Petroleum Reserve. The 60 million barrel release–30 million from the U.S. reserve–reduced oil prices by $5 a barrel to $90 on Thursday. It comes as international oil prices continue to slide down from their April high of $114 a barrel. Oil prices have fallen because the worldwide economic slowdown has reduced demand for oil. Administration officials declined to call the massive release an economic stimulus, but did say tapping the reserve is an effort to ensure “tightness” in the global oil supply will not further crimp the economy. “The president has been focused on this for some time now… [and] has been deeply concerned about the disruption of [Libyan] oil exports,” a White House official told reporters Thursday. Over the last few months, President Barack Obama and his appointees have repeatedly complained about high oil prices and their impact on consumers in Midwestern swing states. Read full story here: News New Mexico

Is the S.P.R. a Strategic "Political" Reserve?