Common Sense on SPRO (from a Democrat)

Sen. Jeff Bingaman (D-NM) just appeared on FoxNews and said something with which I agree (rare from a Dem these days). Bingaman suggests not adding to the Strategic Petroleum Reserve, which is now 98% full. The Bush administration soon faces a decision to add another 27 million barrels, which would bring the total reserves to 727 million barrels.

With oil prices over $50 and the market skittish about a slowdown in the economy, now is the time for President Bush to pop the momentum of the oil trade by taking a pass on adding to SPRO.