Bush to halt deposits to Strategic Petroleum Reserve

President Bush announced Tuesday that he will temporarily halt deposits to the nation's Strategic Petroleum Reserve, freeing more oil for consumer needs in the hope of relieving prices at the pump.

The move comes as Bush faces pressure from looming midterm elections, sinking poll numbers and angry consumers.

In a speech at the Renewable Fuels Association in Washington, Bush said, "By deferring deposits until the fall, we'll leave a little oil on the market. Every little bit helps."

AUTO SPIES PERSPECTIVE: 001 was interviewed on 'Your World with Neil Cavuto', the number one business show on television during the New York auto show about the high gas prices.

001's big concern is that the American car companies just aren't prepared for an extended gas crisis.

They're placing all their chips on trucks and this will end up biting them in the butt.