As gas prices continue to rise, some Democrats are calling for President Obama to tap into the Strategic Petroleum Reserve (SPR), a supply of oil established for national emergencies.  Until last year, the SPR had been used only twice since its creation in 1975 – in response to the first Gulf War and after Hurricane Katrina.  In both cases, there was a severe disruption in oil supplies.

Last June, President Obama released 30 million barrels from the SPR after unrest in the Middle East triggered higher fuel costs.  The move had little effect on the price at the pump then, and the same outcome is likely if he were to turn to the SPR now.  America needs more than election-year tactics to achieve lasting energy reform.

Soaring Gas Prices

The current surge in gas prices has set a new record for this time of the year.  Fuel costs have doubled since President Obama took office and continue to hurt the budgets of families and businesses in Mississippi and across the United States.  Many analysts say the upcoming summer season promises to be even tougher at the pump.

But using the country’s emergency oil reserves should be limited to moments of real crisis – not for playing politics, as the President did last year.  Depleting these stockpiles without a genuine reason recklessly jeopardizes America’s future preparedness and security.  A better strategy is the production of more of our energy resources here at home.  According to the Congressional Research Service, America has the largest endowment of recoverable oil, natural gas, and coal on Earth.   

Wrong Priorities

And yet, the Department of Energy continues to prioritize alternative energy projects like biofuels and electric vehicles ahead of proven ways to help bring relief to the pump now.  Last week, Rep. Alan Nunnelee asked Energy Secretary Steven Chu during a hearing whether lowering gas prices was the department’s overall goal.  Chu said no.

Secretary Chu’s response is not surprising given the Obama Administration’s energy track record.  Three years of onerous regulations, fewer leases, stalled permits, and talk of higher taxes has stifled the pursuit of energy independence and made America more vulnerable to soaring prices. 

Fight for Keystone

President Obama’s recent dismissal of the Keystone XL pipeline is an important case in point.  In addition to the tens of thousands of new jobs it could create, the project would transport 830,000 barrels of oil per day to Gulf Coast refineries – a 7 percent increase over the crude oil and petroleum products we currently import. 

Last week, the company responsible for Keystone announced it would go forward with the southern part of the project that does not require the President’s approval.  The move is a step in the right direction.  By alleviating the bottleneck of oil in Oklahoma, this portion of the pipeline can help boost capacity to Gulf Coast refineries and ultimately get more crude to the market, where reliable supply is key to stable prices. 

We have seen the danger that comes with a global oil market controlled by politically volatile countries like Iran.  Rejecting America’s ample resources, as the President has done, perpetuates this dependency.  Choosing to use the SPR instead of championing real, pro-growth energy policies would be an unwise decision the country cannot afford. 

###