The Strategic Petroleum Reserve is near historic lows after Biden drained the SPR down to just 17 days of supply as war broke out in the Middle East.
Fox Business reported: The Biden administration's drawdowns of the Strategic Petroleum Reserve, which serves as America's emergency stockpile of petroleum, and high market prices delaying efforts to replenish it have left the reserve near its lowest level since 1983 as the war in the Middle East that could destabilize global oil supplies.
Data from the Energy Information Administration indicates that the SPR had about 351.3 million barrels of oil stockpiled as of the week ending Sept. 29 - a slight increase from the lows of 346.8 million barrels in July and August.
The last time the SPR was at or below 350 million barrels for an extended period of time was the fall of 1983, when it was still in the process of being filled, and the reserve had over 650 million barrels stockpiled for most of the last decade.
A 2021 estimate from the EIA puts U.S. oil consumption at about 20 million barrels of oil per day.
Last October Joe Biden absurdly claimed he would be refilling the oil reserve at $70 a barrel to make money.
To add to the scandal, Energy Secretary Jennifer Granholm secretly consulted with CCP energy officials before Joe Biden released barrels of oil from the US Strategic Petroleum Reserve in 2021.
No comments:
Post a Comment