Energy Secretary Samuel Bodman said Thursday that despite repeated congressional objections and oil prices hitting a high of $123 on Wednesday, the Department will continue to inject oil into the national strategic oil reserve.
In May, the U.S. Department of energy injected 3.8 million barrels of crude oil into the strategic oil reserve under the physical royalties program (allowing companies to pay royalties on behalf of oil), with a daily injection volume of about 122500 barrels.
To curb the record high crude oil and gasoline prices, the Democratic Party tried to force the Department of energy to stop injecting oil into the reserves through legislation.
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