Politico Backtracks: Admits Biden’s Petroleum Reserve Drain is Costly

The Biden administration recently made a significant decision to tap into the United States Strategic Petroleum Reserve (SPR) with the aim of aiding the Democratic Party in the upcoming midterms. This move follows Biden's forced energy "transition," which resulted in stringent limitations on U.S. oil production and the cancellation of infrastructure projects that support the oil and gas industry. The SPR, which held 346,758,000 barrels of oil in July, is now just over half full due to these actions. This depletion significantly reduces America's emergency oil supply, originally established to safeguard against threats from hostile nations. It's ironic that Biden's energy policies have led to an emergency that is now being utilized to rationalize his decisions.

While there has been reporting on Biden's energy challenges and his efforts to manage gas prices, some in the mainstream media are beginning to question the administration's use of the SPR. For instance, Politico has raised concerns that the reduced reserves limit Biden's capacity to respond to potential oil market disruptions. With the SPR at such diminished levels, the U.S. is becoming increasingly reliant on oil supply from Saudi Arabia and other countries. This dependence puts the U.S. in a precarious position and undermines Biden's ability to enforce economic sanctions, particularly against Iran's oil exports.

Additionally, Biden's difficulties in securing increased oil supply from OPEC+ have been exposed. OPEC+ has turned down America's requests and even reduced production, thereby challenging Biden's strategic goals. With the SPR less than half full, Biden has fewer tools at his disposal to hold countries accountable for violating embargoes. This situation further underscores the administration's vulnerabilities and the pressing need to boost U.S. energy production. Approving development projects and enhancing domestic energy production can help the U.S. reduce its dependence on other nations and regain control over the global oil and gas market.


Written by Staff Reports

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