Second District Congressman Joe Donnelly confirmed this week that he is part of a group of Democrat Representatives who are urging President Barack Obama to tap into the Strategic Premium Oil Reserves.
“These prices are outrageous,” said Donnelly. “I’ve asked the President to open up the Strategic Petroleum Reserve right away. I am trying to lead the fight against speculators. We need to be an energy independent country. We need to open up the Strategic Petroleum Reserve and go after speculators. If we do those things, we will see prices drop.”
Donnelly said releasing even a small portion of the 727 million barrel reserve would have a huge impact on petroleum prices in the United States.
President Obama’s Press Secretary, Jay Carney, said the President is monitoring the situation. Another option is to ask OPEC to increase production.