Biden admin cancels plan to refill emergency oil reserve

Written By Gallatin County Republican Women

The Biden administration has abruptly canceled a plan announced last month to purchase up to three million barrels of oil as part of its effort to refill the Strategic Petroleum Reserve (SPR).

The SPR – which Congress established for emergency situations – currently contains 363.6 million barrels of oil, a 43% decline from January 2021 when President Biden took office, federal data shows. Biden began depleting the reserve in late 2021 to combat high fuel prices.

Gallatin County Republican Women https://gallatincountyrepublicanwomen.com
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