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Spain lowers speed limit amid shortage of oil from Libya

by Andrew Restuccia - 02/25/11 5:33 PM ET
by Andrew Restuccia - 02/25/11 5:33 PM ET

Meanwhile, in the United States, Obama administration officials sought this week to ease fears of a supply shortage. President Obama said Thursday that the United States will be able to “ride out the Libya situation.”

Oil price spikes settled Friday amid Obama’s comments and reassurances from the International Energy Agency and the Organization of Petroleum Exporting Countries that they can make up for oil shortages from Libya.

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