Editorial: Political heat felt over rising oil costs

Thursday, March 2, 2000 | 9:30 a.m.

President Clinton is feeling pressure from Democrats and Republicans in Congress to do something about high oil prices that are producing a hike in the costs of gasoline and heating oil. Many are urging the president to draw down the nation's emergency oil reserves to force prices lower. While this would be politically popular it only could be a temporary fix -- and even then it is unclear whether it would have much impact on prices. Besides, the 600 million gallons of oil reserves are supposed to be used only in an emergency; the last time this was done was at the start of the Gulf War in 1991.

Clinton has held out the possibility that he still may draw down the reserves, but he should make sure that if he does so it is only because he believes it actually is worthy of an emergency, not because politicians are demanding action. Conservation and an increase in the use of alternative energy will more likely result in lower prices in the long term and, in turn, less reliance on foreign oil.

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