President Obama Addresses Rising Energy Prices

The original reason behind the President's press conference was to talk about rising energy prices, gas prices in particular.

Gas prices have been shooting up in recent weeks for a few reasons: unrest in the Middle East, global economic growth, and changes in supply and demand.

Recently, you may have heard talk about possibly tapping into the nation's reserve. Well, that's not happening. At least, not yet.

"Everybody should know that should the situation demand it, we are prepared to tap the significant stockpile of oil that we have in the Strategic Petroleum Reserve," the President said today.

So, what situation would demand that action?

Something like what happened in the 1970s, or a Hurricane Katrina situation, where the supply is disrupted, and the U.S. would need temporary action in order to keep the economy moving.