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© Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.What is the Strategic Petroleum Reserve?
By CATHY BUSSEWITZ NEW YORK©2024 GPlusMedia Inc.
4 Comments
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Jacko
The OPEC oil cartel and its allies will be meeting in about a week to decide whether to increase production or to hold back, a strategy the group often employs to boost prices.
Cartel. Says it all.
Richard Gallagher
It has to be refined - which is problematic and impacts the immediate flow of gasoline to the pump.
WilliB
As the name indicates, the SOR is meant for an emergency situation like a war, and not for compensating the results of bad government, like the Biden admins impairment of US oil production. But everything Trump did just had to be reversed, didnt it. Now enjoy the results.
Attilathehungry
Not to mention that the 50 million barrels that are to be released is less than three days' usage for the United States. Team Biden should show some gratitude that his predecessor had the foresight to top up the SPR with 77 million extra barrels during his term.
Anyone see the train wreck interview the Energy Secretary gave regarding this? She was supremely unprepared and knew basically nothing about the issue. This administration is in trouble.