President Biden has sold nearly half our Strategic Petroleum Reserve in a vainglorious move to depress gasoline prices and raise cash. The President’s reckless action endangers our national security at the same time Russia cuts its natural gas exports to Europe and OPEC cuts it production to boost oil prices.
So, as Russia and other countries use their energy stores as strategic weapons, our country’s Strategic Petroleum Reserve is at an all-time low. What benefit did our country get from selling away our SPR oil? Possibly a few cents difference at the pump and all the sales proceeds spent for…what? Our country is deeper in debt than ever.
But at least the President promised to refill the SPR…right? Not so fast. President Biden is now balking at refilling the SPR and may delay refilling the Reserve until after the 2024 election. What The White House's Refusal To Refill The SPR Means For Oil | OilPrice.com; Isn’t It Time To Refill The Strategic Petroleum Reserve? (forbes.com)
A look at the SPR chart from Reuters shows how bad it really is:
Playing politics with our national security, for approval points, is unacceptable. And irresponsible. Stop with the crazy oil and gas regulations, grant the federal leases you promised, and refill the reserve now.