Obama prepared to tap petroleum reserve if needed
President Barack Obama said Friday he's prepared to tap the country's emergency oil reserve should the situation demand it. But as gas prices climbed toward $4 a gallon ($1 a liter), the president said the US must adopt a long-term strategy of conservation and domestic production to wean itself off foreign oil.
"We've been having this conversation for nearly four decades now. Every few years gas prices go up, politicians pull out the same political playbook, and nothing changes," Obama said at a White House news conference. (AP)
