Republicans Block Provision to Alter Strategic Oil Reserve Mix

By Daniel Whitten

July 24 (Bloomberg) -- The U.S. House defeated a Democratic proposal to substitute heavy crude oil for light petroleum in the Strategic Petroleum Reserve, after White House officials threatened a veto of the measure.

The measure, at least the fourth energy bill to fail under suspension of rules in the last month, would have directed that 10 percent of the reserve be released into the market over six months and replaced with heavier oil over a five-year period. Considering a bill under suspension of House rules means that the bill needs a two-thirds majority in order to pass.