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Daley Says U.S. Will Consider Using Oil Reserve as Prices Rise

The Obama administration will consider using the Strategic Petroleum Reserve if rising oil prices caused by turmoil in the Middle East and North Africa threaten the U.S. economy, White House Chief of Staff William Daley said.

“The issue of the reserve is one we’re considering,” Daley said on NBC’s “Meet the Press” program. “It is something that only is done, has been done, in very rare occasions. There’s a bunch of factors that have to be looked at” besides price.