Senate Votes to Stop Deposits to Oil Reserve

Oil supply will increase by 70 thousand barrels a day.

The U.S. Senate by a near unanimous vote of 97 to 1 on Tuesday temporarily stopped oil from being put in the Strategic Petroleum Reserve. According to Senator Byron Dorgan, D-N.D., this will increase the oil supply by 70 thousand barrels per day. The National Farmers Union voiced strong support for Tuesday's action.

"Americans have been feeling the strain of rising energy costs for far too long and today's action will set the path to providing much-needed relief," NFU President Tom Buis says. "Sky high energy prices are not only affecting Americans at the pump, they're one of the biggest culprits in increased food prices."

The Administration did not support the move, saying that it would not have a significant impact on gasoline prices.

Another measure that would have increased oil drilling was also voted on Tuesday, but failed to pass.

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