Obama now proposes tto have the government sell 70 million barrels of their 707 million barrel stockpile. With the aim to achieve:-
1) Lowering in the short term oil prices.
2) Securing enough finances to push renewable energy initiatives. 150 billion to be exact. With a $7000 tax credit to buyers of fuel-efficient hybrid cars. Fossil fuels, renewable energy sources, etc.
The vision is within 10 years, to effectively combat the nation's oil addiction and to eliminate the country's reliance on foreign oil.
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