Bush authorizes oil release from Strategic Petroleum Reserve
{{date|September  1, 2005}}
[[Image:MiRO4.jpg|right|250px]]
Yesterday, President [[George W. Bush]] authorized the release of oil from the {{w|Strategic Petroleum Reserve}} due to [[Hurricane Katrina|Hurricane Katrina]]'s effects on {{w|oil refineries}} in the [[Gulf Coast]].

The decision was made late Tuesday and announcement was made Wednesday.

The Strategic Petroleum Reserve consists of 700 million barrels of oil located in salt caverns along the [[Texas]] and [[Louisiana]] coast. The Strategic Petroleum Reserve is meant to act as a cushion for the oil market during  disruptions of energy.

Energy production was interuppted by Katrina as more than 735 oil and {{w|natural gas}} rigs had to be evacuated. This shut down 95 percent of {{w|crude oil|crude}} production and 88 percent of natural gas output in the [[Gulf of Mexico]].
== Related news ==
* {{wikinews|title=Oil prices fall as reserves are released|date=February 2, 2005}}
== Sources ==
*{{source|url=http://news.yahoo.com/news?tmpl=story&u=/afp/20050831/pl_afp/usweatheroil_050831130701
|title=US to release oil from Strategic Petroleum Reserve
|author=
|pub=Agence France-Presse
|date=August 31, 2005}}
<!-- Hint: If you are citing BBC News, leave the author blank and put "BBC News" in the "pub" parameter. -->

*{{source|url=http://www.nytimes.com/2005/08/31/national/nationalspecial/31energy-wire.html?hp&ex=1125547200&en=7947364e50c140f2&ei=5094&partner=homepage
|title=Administration Reportedly Will Tap Strategic Petroleum Reserve
|author=
|pub=New York Times
|date=August 31, 2005}}
*{{source|url=http://www.washingtonpost.com/wp-dyn/content/article/2005/09/01/AR2005090100100.html
|title=Bush Hints at Possible Higher Gas Prices
|author=Tom Raum
|pub=Washington Post
|date=September 1, 2005}}
*{{source|url=http://today.reuters.com/business/newsarticle.aspx?type=tnBusinessNews&storyID=nN31169958&imageid=&cap=
|title=US to tap Strategic Petroleum Reserve-Energy Secy
|author=
|pub=Reuters
|date=August 31, 2005}}
*{{source|url=http://biz.thestar.com.my/news/story.asp?file=/2005/9/2/business/11935527&sec=business
|title=Bush says US govt will release crude from stockpile
|author=
|pub=The Star (Malaysia)
|date=September 2, 2005}}

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[[Category:United States]]
[[Category:North America]]
[[Category:Hurricane season, 2005]]
[[Category:Oil price surge, 2005]]
[[Category:George W. Bush]]
[[Category:Gulf of Mexico]]
[[Category:Texas]]
[[Category:Louisiana]]
[[Category:New Orleans Disaster]]
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Yesterday, President George W. Bush authorized the release of oil from the Hurricane Katrina's effects on
United States North America Hurricane season, 2005 Oil price surge, 2005 George W. Bush Gulf of Mexico Texas Louisiana New Orleans Disaster