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6022

Bush Signs Bill Temporarily Suspending SPR Shipments

Despite his oft-repeated opposition to the measure, President Bush has signed into law legislation (HR 6022) temporarily suspending deliveries of crude oil to the Strategic Petroleum Reserve (SPR) in an attempt to ease gasoline prices. The new law will suspend SPR shipments until either the end of the year or when crude oil prices dip below $75/bbl.

May 22, 2008