Bush not expected to tap strategic oil reserve

President Bush is paying a visit to the Department of Energy Friday, but the White House said Thursday that he is unlikely to address House Speaker Nancy Pelosi’s (D-Calif.) demand to tap the strategic petroleum reserve.

{mosads}Bush will be making the trip with his economic team to address record-high energy costs and their effects on food prices and transportation.

However, White House spokesman Tony Fratto told reporters that the president will not address Pelosi’s requests to open the strategic preserve because he continues to believe that it should be maintained in case of an emergency, such as a terrorist attack, and “not to try to manipulate prices in our market.”

Fratto added that Bush’s economic team believes that, because it is a finite amount of oil, it would not have any effect on the market or gas prices.