ATA Disappointed in House Vote on SPR

"We are disappointed with the outcome of the House vote,” said ATA President and CEO James C. May of the legislator’s rejection of releasing oil from the Strategic Petroleum Reserve. “A staggered release of oil from the Strategic Petroleum Reserve would have both short- and long-term impact on reducing the price of oil. We sincerely hope that Congress will put aside its partisan differences and agree on a comprehensive package before recessing for the summer."
May added that the package should include a three-pronged approach: stop excessive speculation in the oil commodities markets, remain focused on environmentally sound supply-side solutions, and immediately begin releasing 10 percent of the SPR. Related Story