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Energy Dept Cancels Oil Shipments to Govt Reserves

foxnews.com — The U.S. Energy Department says it has canceled oil shipments into the Strategic Petroleum Reserve beginning in July when the current purchase contract expires. The move came days after Congress passed legislation requiring the President to suspend the shipment into the reserve in hopes of lowering gasoline prices....

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  • LeeMaple, on 05/16/2008, -0/+1The reserve is 97 percent full, holding 701 million barrels of crude. At $126 per barrel, that's $88,326,000,000.00. Hording anyone?
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