Shortsighted Senators and the Oil Reserve

WASHINGTON (Reuters) -- The U.S. Senate voted on Tuesday to suspend oil deliveries to the Strategic Petroleum Reserve until crude prices fall below $75 a barrel, repudiating the Bush administration's policy of boosting the stockpile at a time of record oil and gasoline prices.

U.S. lawmakers have been bombarded with complaints from their constituents about soaring gasoline costs, which hit a record-high $3.72 a gallon this week. They want to divert the reserve's oil shipments to the market in an attempt to give some short-term relief to consumers at the pump.

The proposal to halt shipments to the emergency oil reserve, which overwhelmingly cleared the Senate in a 97 to 1 vote after most Republicans abandoned the president on the issue, was tacked on to a flood insurance reform bill that also passed.

...The Bush administration opposes suspension of the oil shipments, saying the move would have little impact on cutting oil prices which hit a record near $127 a barrel on Tuesday.

However, the Senate vote approving the underlying flood insurance bill was 92 to 6, enough to override a presidential veto of the measure.

The White House says the United States needs a bigger emergency oil reserve than the current 703 million barrels held at four underground storage sites in Texas and Louisiana to offset any major supply disruptions.

"Instead of hiding barrels of oil in the nearly full Strategic Petroleum Reserve, we want to put them on the market to increase supply and lower prices," said Senate Majority Leader Harry Reid.

"When the American consumer is being burned at the stake by high gas prices this government ought not be carrying the wood. It's just that simple," said Democrat Byron Dorgan, the main sponsor of the proposal.

No. What's simple, Dem Dorgan, is taking some long-term measures to boost our oil supply.

...Separately, the Senate rejected a broader Republican energy measure which in addition to stopping oil deliveries to the reserve would have allowed oil drilling in the Arctic National Wildlife Refuge and off coastal states where energy exploration is now banned.

Although the Republicans have abandoned Bush on shipments to the Strategic Petroleum Reserve, at least they support drilling in ANWR and off coastal states.

If the Dems really care about helping consumers, they should quit blocking energy exploration.

The reality is they would rather do the bidding of environmental extremists than do what's best for the country.

The Dems don't want gas prices to go down, not now. They want the high cost of gas to be a campaign issue.

Bottom line: They are thinking about themselves and their own power, not the American consumer.