With talk of gasoline hitting all time record prices in no time flat, President Bush has ruled out the idea of releasing some of the Strategic Petroleum Reserve (SPR) to offset price hikes.
The US has 660 million barrels of oil -- about a two month supply -- in salt domes off the Gulf Coast. But the White House says opening the Artic National Wildlife Refuge to oil drilling would be a better solution.
Let's see -- oil we got versus oil we'll get in 10 years. Hmmmm. (USA Today)