U.S., Britain to agree emergency oil stocks release
Posted: Thu Mar 15, 2012 10:06 am
So soon?? What in the heck... This isn't an emergency yet, it's just rising prices... wait for a war or something to happen that is catastrophic before you tap into strategic reserves. Very stupid preventative measure if you ask me.
U.S., Britain to agree emergency oil stocks releaseBritain has decided to cooperate with the United States in a bilateral agreement to release strategic oil stocks, two British sources said, in an effort to prevent high fuel prices derailing economic growth in an election year.
A formal request from the United States to the UK to join forces in a release of oil from government-controlled reserves is expected "shortly" following a meeting on Wednesday in Washington between President Barack Obama and Prime Minister David Cameron, who discussed the issue, one source said.
Britain would respond positively, the two sources said.