Biden Dangerously Draining Strategic Petroleum Reserve Like ‘Campaign Credit Card’, Industry Warns

Posted on September 29, 2022
Biden Dangerously Draining Strategic Petroleum Reserve Like ‘Campaign Credit Card’, Industry Warns

WASHINGTON, DC - NOVEMBER 23: U.S. President Joe Biden speaks on the economy during an event at the South Court Auditorium at Eisenhower Executive Office Building on November 23, 2021 in Washington, DC. President Biden announced the release of 50 million barrels of oil from the Strategic Petroleum Reserve of the Department of Energy to combat high energy prices which are at a seven-year high across the nation prior to the holiday travel season. (Photo by Alex Wong/Getty Images)

With crude inventory in the SPR down to its lowest level since Ronald Reagan’s first term, President of the U.S. Oil and Gas Association Tim Stewart said the reserve is being used by Biden to “buy down political risk” ahead of the midterm elections.

Photo by Alex Wong