The US has a Strategic Petroleum Reserve known as SPR. It is the world’s largest supply of crude oil which is kept in case of an emergency shortage of oil. It was started after the oil embargo of 1973-74.
When needed, as in the aftermath of Katrina, the oil reserves are sold to US markets.
Nancy Pelosi has strong feelings on releasing at least some of the SPR to help lower the prices of gas…
“Americans convinced the Bush Administration to not keep filling the SPR a number of weeks ago. We are calling upon them now to free our oil, call the White House, e-mail the White House so that we can increase the supply to reduce the price at the pump. The President’s number is (202) 456-1414, and his e-mail is comments@WhiteHouse.gov.”