CQ TODAY MIDDAY UPDATE
May 13, 2008 – 12:57 p.m.
Senate Votes To Require Suspension of Oil Deposits In Strategic Reserve
The Senate defied the White House Tuesday with a bipartisan vote to require a temporary halt to the oil deposits in the Strategic Petroleum Reserve, as the House prepared to pass its own mandate later in the day.
The Senate by 97-1 adopted an amendment to unrelated legislation that would temporarily suspend shipments to the SPR.
But when Majority Leader Harry Reid , D-Nev., tried to call up a freestanding bill that contained a similar temporary halt, in hopes that the House could clear the bill for the White House within 24 hours, Republicans objected.
“Stop putting oil underground,” urged Byron L. Dorgan , D-N.D. “We can increase the supply by 70,000 barrels a day of sweet light crude, the most valuable oil, instead of putting it underground.”
The House planned to vote later on a freestanding bill under suspension of the rules, an expedited procedure that bars amendments and requires a two-thirds majority for passage.
Dorgan said he also will offer the SPR provision as an amendment during a Thursday markup of the emergency supplemental war funding bill, which is expected to make it to the president’s desk within a few weeks.
“It’s more steps as an amendment on flood insurance. It’s faster on the supplemental,” said Dorgan.
The White House opposes any suspension of oil deposits in the SPR. President Bush argues that such a step would have little or no affect on gasoline prices, given the tiny fraction of world oil supplies that would be freed up.
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