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Obama proposes swap of oil in strategic reserve

CHICAGO
Mon Aug 4, 2008 11:26am EDT
US Democratic presidential candidate Senator Barack Obama (D-IL) speaks alongside his top economic advisors during a roundtable meeting at a hotel in Washington, July 28, 2008. REUTERS/Jason Reed

CHICAGO (Reuters) - U.S. presidential candidate Barack Obama called on Monday for swapping some of the oil in the Strategic Petroleum Reserve, in a move his campaign said would be aimed at lowering the price of gasoline.

Barack Obama

"What he will be calling for in his speech today is to swap out the light crude for heavy crude -- the heavy crude would be replaced in the reserve at a later date," said Heather Zichal, the Democratic candidate's energy policy director.

Zichal said that would be done "so that we can get oil into the market" with the goal of reducing prices.

(Reporting by Caren Bohan; Editing by John Picinich)
Barack Obama


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