Trump vows to refill Strategic Petroleum Reserve

6
219
Credit: https://ycharts.com/indicators/us_ending_stocks_of_crude_oil_in_the_strategic_petroleum_reserve

Donald Trump told Fox News last week that he will refill the Strategic Petroleum Reserves, which have been drained to dangerously low levels by the Biden Administration.

Trump said the Biden has been gambling with American security in order to try to force gasoline prices lower.

“[Biden is] using the strategic reserves, which is meant for military, which is meant for war, and very important things, he’s using it to try and keep gasoline prices down,” Trump said, referring to election-year politics. “We can’t allow that to happen. We don’t need energy from any other country. We have to fill up the strategic reserves again. It is the lowest number it has ever been.” he added.

When Biden took office, the nation had 638 million barrels of oil in reserve that were to be kept in storage in case of a national emergency. Biden drew the volume down to 346 million barrels for two years, and particularly leading up to the 2022 midterm elections, in an effort to drive down gas prices for Americans and increase the chances that Democrats would win their elections. He then started to rebuild it to its current level of 375 million barrels.

The reserves are still at the lowest level since they were. first filled after being established in the early 1980s and the levels are barely higher than last year, when Biden promised he would refill it. Although his administration has announced that it would purchase oil for the reserve, it has canceled most of those purchases.

The Strategic Petroleum Reserve is a federal government complex of four sites, each with with deep underground storage caverns created in salt domes along the Texas and Louisiana coasts. It was established to prevent another oil crisis, such as the one that occurred in the 1970s.

Rick Whitbeck, Alaska director for Power the Future, said, “It’s good to see someone running for president understand that energy security is national security. Our nation’s strategic petroleum reserves were never designed to be used as a political football. The Biden administration has done exactly that, manipulating them for political gain and votes, instead of for their designated reasons.”

Energy is on the ballot in November, Whitbeck said: “Let’s hope America makes the right choice, and we can return to energy dominance once again as a country.”

6 COMMENTS

  1. That’s odd because a few weeks ago Energy Secretary Jennifer Granholm said “This milestone is a proof point that when the Biden-Harris Administration makes and implements a plan, we deliver for the American people,” what milestone you might be asking yourselves. The one where they claimed “As promised, we have secured the 180 million barrels back to the Strategic Petroleum Reserve released in response to [Russian President Vladimir] Putin’s war in Ukraine – and we accomplished this while getting a good deal for taxpayers and maintaining the readiness of the world’s largest Strategic Petroleum Reserve,” but wait a minute if they didn’t do what they said they did and promised, then what did they actually do?

    As it turns out, the Energy Department announced a 4.65 million barrel purchase, bringing the total purchased since the 2022 drawdown up to more than 40 million barrels. But isn’t 40 million barrels less than 180 million barrels, why yes it is. Instead of filling the reserve the administration has worked with Congress to cancel 140 million barrels in planned sales. So you can see that after having sold off 180 million barrels and purchasing 40 million barrels that by not selling 140 million more barrels they basically refilled the SPR already…what? Oh yeah, wait, don’t worry about the fact that the SPR is actually not refilled and is at the lowest levels since it was created and they haven’t refilled the SPR to the levels they claim.

    This administration just continues to gaslight America and Americans at every opportunity.

  2. Electric cars are a thing of the past. Time to fill up with gasoline again. The wackos are in the rearview mirror, looking for a recharging station.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.