Washington steps in to regulate oil prices

Due to the destruction hurricane Ivan left in the Gulf of Mexico the U.S. was forced to go to its reserve supply of crude oil. Ivan has caused major shortages in such states as Louisiana, Florida, and many other battle ground states. The move was made by Washington to offset rising gas prices in these particular states. This would be a short term deal until the oil companies that are located in the Gulf would be able to begin shipment. It was in 2002 the last time Washington loaned crude oil to companies due to hurricane Lili. The oil reserve was created in 1975 due to an Mideast embargo in order to protect the American consumer against supply disruptions. The oil reserve has about 670 million barrels stored which are located in underground salt caverns in Louisiana and Texas.