Obama Says U.S. Prepared to Tap Strategic Reserve If Needed

President Barack Obama said he’s prepared to tap the nation’s strategic oil reserve if necessary to deal with any disruptions in the energy supply and said the Justice Department will be on the watch for any evidence of price gouging.

“In an economy that relies on oil, gas prices affect everybody,” Obama said at a White House news conference. He said higher fuel prices are “an added burden” for American families “already facing tough times.”