Strategic Petroleum Reserve

Biden OKs release of 1 million barrels of oil a day from reserve, calls for supply boost

BY: - April 1, 2022

President Joe Biden called Thursday for U.S. energy companies to do their part in lowering gasoline prices by boosting supplies of oil, saying the industry should plow record profits back into increased production. Biden also said he would release 1 million barrels of oil from the Strategic Petroleum Reserve daily for the next six months […]

Biden opens oil reserve to relieve high gas prices — but it won’t be immediate

BY: - November 25, 2021

As gasoline prices spiral ahead of the big holiday travel season, President Joe Biden authorized the release of a record 50 million barrels of oil from the Strategic Petroleum Reserve Tuesday — complicating his administration’s goal to transition to cleaner energy sources. In prepared remarks, Biden said he coordinated the release from the reserve, a complex […]