The strategic oil reserve, then and now

August, 2000.

At a campaign stop in Cleveland early Thursday afternoon, Bush assailed Gore's suggestion as "bad public policy," and accused the vice president of trying to manipulate a national strategic asset for political purposes.

The reserve, Bush said, "is an insurance policy meant for sudden disruptions of the oil supply or for war. It should not be used for short-term political gain ... at the expense of national security."

Times, they change.

WASHINGTON (Reuters) - President George W. Bush on Tuesday will direct the U.S. Energy Department to temporarily halt deliveries of oil to a strategic reserve in order to get more oil in the market and help reduce rising gasoline prices, a senior administration official said.

The official said Bush in a 10:05 a.m. EDT energy speech will tell the Energy Department to suspend deliveries to the Strategic Petroleum Reserve this summer while supplies are tight "and defer the deposits until the fall, and then you have more oil on the market."

"That helps address high oil prices which in turn helps address high gas prices," the official said.

The Strategic Petroleum Reserve is an emergency stockpile of oil. Bush will not direct any tapping of the strategic reserve, the official said.

Just sayin'.