President Joe Biden's administration dropped its plan to buy oil to refill the Strategic Petroleum Reserve due to rising oil prices.
The administration canceled the purchase despite depleting the emergency supply by 43%, the lowest since the 1980s.
The administration planned only to buy three million barrels.
It's still better than nothing, though: The Energy Department has been slowly refilling the emergency oil supply after it reached a 40-year-low following the administration's unprecedented drawdown of a record 180 million barrels in the wake of Russia's invasion of Ukraine.
The administration has been ramming electric vehicles down our throats since it took over.
In December, the Department of the Interior offered the most restrictive offshore drilling plan in U.S. history, months after only proposing three oil drilling leases through 2029.
At the same time, the administration ended oil and gas leases in Alaska except for ConocoPhillips 30-year oil project.
https://legalinsurrection.com/2024/04/u-s-wont-buy-oil-to-refill-strategic-petroleum-reserve/
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