Schumer urges tapping of petroleum reserve

New York-AP -- New York Senator Charles Schumer is urging the Bush administration to take steps to rein in the rising price of fuel. Schumer says the administration should not rule out tapping the Strategic Petroleum Reserve.

Other lawmakers have also urged the administration to take that step. Last week, the White House said it's not under consideration. The emergency stockpile is in salt domes along the Gulf coast in Louisiana and Texas.

With heating bills and gas prices on the rise, Schumer says things could get worse. He points to the general strike in oil-rich Venezuela and the possibility of a war on Iraq.

Oil is trading at two-year highs, and some gas retailers seem to be rushing to pass wholesale price increases