Breaking: The Senator has just proposed a major solution that will result in immediate savings and a significant drop in gas prices within a couple of weeks. We need Congress to bring this proposition to the floor immediately.
The McCain camp is scrambling to counter this bold and substantive move. More on the McCain response shortly.
According to Reuters, www.reuters.com/article/politicsNews/idUSWBT00950720080804 - In Lansing, Michigan today, Senator Obama just called for the sale of 70 million barrels of oil from the U.S. energy stockpile as part of a swap aimed at reining in the high cost of gasoline.
"We should sell 70 million barrels of oil from our Strategic Petroleum Reserve for less expensive crude, which in the past has lowered gas prices within two weeks," Obama said in remarks prepared for a speech he was about to deliver in Lansing, Michigan.
Obama said tapping the SPR was one of the short-term steps that could be taken to ease the energy problem but said even more important were long-term measures, such as the development of alternative fuels.