Finally responding to soaring gas prices (only partly caused by the Libya crisis), the president says he is considering tapping the Strategic Petroleum Reserve. I believe the SPR should be Mr. Obama’s last resort, not his first. There are three better things he can do right now: (1) lift his ridiculous Gulf drilling ban; (2) drill in Alaska and off the coasts; and (3) cut gas taxes. While he’s at it, he can phase out the equally ridiculous ethanol subsidies, which will lower food prices. Libya is a crisis because Mr. Obama’s current anti-oil policies leave no margin for error. His talk about the SPR is a short-term distraction to the long-term steps he must take, starting today.