Describing the president as "deeply concerned" about the impact on global economic growth of oil supply disruptions in the Middle East and North Africa, the Obama administration announced it would release 30 million barrels of oil from the Strategic Petroleum Reserve over the next 30 days.
Fears over Mideast turmoil have pushed oil and gas prices sky high, which risks tipping the U.S. economy back in to a recession. But the government isn't powerless when it comes to oil prices: Here are five things that Washington and the states can do that would quickly reduce our pain at the pump.
As the crisis in Libya continues to shake world oil markets, many voices are calling for President Obama to tap into the Strategic Petroleum Reserve. With gasoline prices up 33 cents a gallon in the last month, that's a tempting idea. It's also the wrong one.