Strategic Petroleum Reserve

April 3, 2024 | Andrew Moran

Biden Administration Abruptly Stops Replenishing Strategic Petroleum Reserve

The Biden administration abruptly halted refilling the nation’s Strategic Petroleum Reserve (SPR) as the Department of Energy tries to keep “the taxpayer’s interest at the forefront.” The latest decision comes as crude oil prices have rocketed amid geopolitical tensions and global market tightness. Last month, the Energy Department’s Office of Petroleum Reserves announced the solicitation […]

August 3, 2023 | Bryan Jung

Biden Administration Cancels 6 Million Barrel Order to Refill Strategic Petroleum Reserve

The Biden administration canceled its planned acquisition of 6 million barrels of oil to help refill the Strategic Petroleum Reserve (SPR). This move leaves the nation’s emergency crude stockpile at its lowest level in four decades, as global oil prices have ticked upwards after a cut in output from Saudi Arabia. The planned purchase was announced by the Department of […]

March 8, 2023 | NTD Video

House Oversight Subcommittee Holds First Hearing on Depleting the Strategic Petroleum Reserve

U.S. House Oversight and Accountability Committee Economic Growth, Energy Policy, and Regulatory Affairs subcommittee holds its first hearing at 2:00 p.m. ET on March 8 on the depleting of the Strategic Petroleum Reserve: “Burning the Midnight Oil: Why Depleting the Strategic Petroleum Reserve is Not a Solution to America’s Energy Problem, Part I.” Center for Industrial […]

January 26, 2023 | Hannah Ng

New GOP Bill to Block Sales of SPR Oil to China

Sen. Ted Cruz (R-Texas) on Jan. 25 proposed legislation that seeks to block the United States from selling oil from the Strategic Petroleum Reserve (SPR) to China and Chinese Communist Party (CCP)-owned companies. The bill “Protecting America’s Strategic Petroleum Reserve from China Act” (pdf) was co-sponsored by 15 other Republican senators. “The Strategic Petroleum Reserve […]

January 24, 2023 | Katabella Roberts

Biden Will Veto GOP Bill Restricting Strategic Petroleum Reserve Releases: Energy Secretary

President Biden will veto a House Republican bill that would restrict the release of oil from the U.S. Strategic Petroleum Reserve (SPR) emergency reserve, Energy Secretary Jennifer Granholm said on Jan. 23. “If Congress were to pass H.R. 21, the president would veto it. He will not allow the American people to suffer because of the […]

October 25, 2022 | Steve Lance

Petroleum Reserve Is Politicized: Sgamma

Many Americans this winter could be struggling to heat their homes amid spiraling energy costs. President Joe Biden announced the last of the oil he approved to release from the strategic oil reserve will go to market in late December. NTD spoke with Kathleen Sgamma, president of the Western Energy Alliance, to discuss the energy […]

October 25, 2022 | Stefania Cox

Oil Investor: Oil Reserve Drawdown Is Like Playing Musical Chairs; Prices Will Soar After Midterms

Founder and president of King Operating Corporation Jay Young told NTD that President Joe Biden’s drawdown of the Strategic Petroleum Reserve is like playing musical chairs. Young says in the period after the midterm elections, there won’t be enough oil left to meet demand.

October 19, 2022 | Don Ma

NTD Business Full Broadcast (Oct. 19)

President Joe Biden once again releases millions of barrels of oil from the strategic reserve. The move leaves the reserve at a decades-low and comes only 20 days before the midterms. A new report says TikTok is tracking you even if you don’t use the app. How? And what information is it getting? The IRS […]

October 19, 2022 | Caden Pearson

White House Signals ‘Significant’ Drawdowns From Strategic Reserve Beyond 180 Million Oil Barrels

The White House on Tuesday signaled “additional significant” drawdowns from the U.S. Strategic Petroleum Reserve (SPR) beyond the 180 million barrels announced in March. But an expert says these drawdowns “failed to control oil prices.” The final 15 million barrel tranche of the total 180 million barrel SPR drawdown is expected to be announced Wednesday, according to […]

September 29, 2022 | Jack Phillips

Biden Draining Strategic Petroleum Reserve Like ‘Campaign Credit Card’: Industry Official

The head of a U.S. oil industry association warned that the Biden administration is wantonly draining the U.S. Strategic Petroleum Reserve in a bid to keep Democrats afloat ahead of the 2022 midterms. “This is the first time in history, honestly, that the Strategic Petroleum Reserve has been used as a campaign credit card to buy […]

September 4, 2021 | The Center Square

Feds Will Utilize Strategic Petroleum Reserve for Louisiana Recovery

The U.S. Department of Energy announced Thursday it will utilize the nation’s Strategic Petroleum Reserve to address fuel shortages in Louisiana because of Hurricane Ida. The Category 4 hurricane devastated coastal areas and inland parishes across the state’s southeastern region. Gasoline-powered generators remain critically important as widespread power outages persist amid sweltering summer temperatures. Transportation […]

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