Obama Response to Gas Prices

WASHINGTON (AP) - President Barack Obama's chief of staff says
the administration is looking at the nation's oil reserves as it
considers options for dealing with the spike in gas prices.

The price of a barrel of oil has passed $100. In the U.S.,
gasoline is averaging $3.50 a gallon.

Those increases come amid unrest in the oil-producing Middle
East, particularly as rebellion rages in Libya.

White House chief of staff William Daley tells NBC's "Meet the
Press" that all options are being considered for a short-term
response to rising oil prices.

At times the government has tapped the Strategic Petroleum
Reserve emergency supply to stabilize prices. The reserve contains
727 million barrels of oil.

Daley says officials are concerned about the impact of oil
prices on the fragile economic recovery.

(Copyright 2011 by The Associated Press. All Rights Reserved.)


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