However, the Biden administration has depleted the SPR, which contains an emergency oil supply and was established for emergency scenarios, to its lowest level in four decades. The SPR currently contains 351.3 million barrels of oil, 44% lower than it was in January 2021 when Biden took office and a level last recorded in September 1983 prior to this year.
Since taking office, Biden has ordered the Department of Energy to release a total of about 260 million barrels of oil stored in the SPR to combat high fuel prices that hit consumers in late 2021 and mid 2022. While the administration has recently initiated the process of refilling the emergency reserve, Republican lawmakers and energy experts have warned its actions make the U.S. vulnerable to short-term supply shocks.
PS: but Trump.....
Since taking office, Biden has ordered the Department of Energy to release a total of about 260 million barrels of oil stored in the SPR to combat high fuel prices that hit consumers in late 2021 and mid 2022. While the administration has recently initiated the process of refilling the emergency reserve, Republican lawmakers and energy experts have warned its actions make the U.S. vulnerable to short-term supply shocks.
Biden's depletion of emergency oil stocks comes back into focus amid Israel-Hamas war, price surge
President Biden's decision to reduce emergency U.S. oil stocks by more than 40% is receiving renewed attention amid the latest Middle East conflict that sent oil prices higher.
www.foxnews.com
PS: but Trump.....