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Rising Energy Prices gets Obama’s attention

barrack-obamaThe upheaval in Middle East and North Africa has made the gasoline and heating oil price shoot through the rooftop in USA. This has made President Barrack Obama to address this issue at a news conference today. Even after a lot of criticism from republican quarter on his energy policies, President Obama is not expected to make any consideration on oil release from the Strategic Petroleum Reserve.

The criticism has even gathered backing from some of democrats as they have urged Mr. Obama to release oil from the Strategic reserves to counter the energy prices and stabilize it by increasing supply.

Although there is a lot of speculation on what steps would President Obama take in this regard, but this is almost certain that he is not going to announce anything on the oil draw.

According to White House Press Secretary Jay Carney, the government is confident of a solid rebound from this political turmoil in Middle East and North Africa, and also added that the current global system is strong enough to deal with any disruption of oil supply arising out of it. The Republicans have been criticizing the White House for not doing enough to increase energy supply which in turn has raised gas prices.