Markey Concerned with Rising Gas Prices

Markey Joins Other Congressmen Urging President to Tap Strategic Oil Reserve

Congressman Edward Markey took his concern over rising gas prices to the streets of Medford on Wednesday afternoon. Rep. Markey announced he has joined two other top Democrats in the House of Representatives urging President Barack Obama to use America’s Strategic Petroleum Reserve to provide relief for rising gas prices.

“It is essential that the United States have an aggressive strategy for releasing oil from the Strategic Petroleum Reserve to combat the speculators capitalizing on the fear in oil markets and to send a message to Iran that we are ready, willing, and able to deploy our oil reserves. Signaling that the United States will continue to employ an aggressive SPR policy in the near term would send a strong signal to oil markets responding to the unrest in the Middle East,” said the letter, written by Rep. Markey, Rep. Rosa DeLauro (CT) and Rep. Peter Welch (VT).

Last April Pres. Obama heeded the advice of the three Representatives and others to tap the nation’s preserves during the Libyan uprising, a move that helped tamp down gas prices by 8%, according to information released by Rep. Markey.

According to Rep. Markey, America’s Strategic Petroleum Reserve currently holds approximately 696 million barrels and is filled to more than 95% of its capacity.

Congressman Markey is shown addressing a gathering of reporters on Wednesday afternoon at Medford Gas on Main Street.

In addition to local reporters, television camera crews attended Markey’s press conference.

– InsideMedford.com