Feeding the Oil Monster with a Dixie Cup

Tapping the Strategic Petroleum Reserve is a welcome move, but energy players and consumers still fear a supply squeeze and price hikes

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

September 1, 2005 at 4:00 AM UTC

This article is for subscribers only.

Hurricane Katrina did what months of political heat couldn't: It breached the Bush Administration's stone wall against responding to soaring gasoline prices.

On Aug. 31, with 91% of the Gulf region's oil production shut down and nine major refineries knocked out by floods and power failures, the Energy Dept. announced it would let refiners draw crude from the Strategic Petroleum Reserve, while the Environmental Protection Agency temporarily eased clean-air rules for fuel. Critics had been urging similar steps ever since pump prices passed $2 a gallon.