"We had a very long and serious discussion about this," Clinton told reporters gathered in the White House Rose Garden. "We discussed all the pros and cons."
Republican senators are accusing Clinton of tapping the oil reserve to help Vice President Al Gore's presidential bid. Sen. Don Nickles, R-Okla., speaking Tuesday, said: "The emergency oil is for a severe shortage and not to help a candidate seven weeks before the election."
But he said he concluded that "the most prudent thing to do is what we did."
Clinton said he took the advice of Energy Secretary Bill Richardson and energy experts, "including the vice president," when he decided Friday to draw 30 million barrels of oil from the government reserve in the face of continued high prices dictated by policies established by the Organization of Petroleum Exporting Countries.
Clinton and Richardson had said previously that the release of oil from the strategic reserve was intended to cushion a sudden supply shortfall this winter.
Richardson said the government oil drawdown will ease a 40 percent shortfall in heating oil inventories in the eastern part of the country and "make sure American families keep warm this winter."
The temporary infusin of oil, beginning in November, is expected to put 4 million to 5 million additional barrels of heating oil into the market, Richardson said Tuesday. He disputed contentions by some senators that refineries, now operating at near peak capacity, wouldn't be able to handle the oil.
About 1 million barrels of heating oil are used daily during the winter, with two-thirds of it used in the Mid-Atlantic and Northeast states, according to the Energy Department.