Strategic Petroleum Reserve is at its lowest since 1985.
While average gas prices at the pump have decreased from their $5 peak, gasoline is still significantly more expensive now than ever before. Meanwhile, what the U.S. holds in its Strategic Petroleum Reserve (SPR) is the lowest it has been since 1985. Yet the House of Representatives voted last week to continue selling oil from the SPR to China.
SPR supplies have dwindled continuously since President Biden’s administration came into office. During President Biden’s first month in office, the U.S. had about 638 million barrels in its reserve. By March this year, one month into Russia’s invasion of Ukraine, reserves had fallen to 565 million barrels. By July, 480 million barrels were left in the SPR, according to data from the U.S. Energy Information Administration.
President Biden stated, “I’ve been releasing about 1 million barrels of oil a day from the Strategic Petroleum Reserve and rallied our global partners to release a combined 240 million barrels of oil onto the market. Our actions are working and prices are coming down.”
Last week, Representative David Valadao of California stated that he offered a motion in the House to “immediately consider legislation that would prohibit the sale of oil drawn from the Strategic Petroleum Reserve to entities under the control of the Chinese Communist Party for export to China.” His motion was voted down.
According to the Department of Energy, the SPR, “The world’s largest supply of emergency crude oil, was established primarily to reduce the impact of disruptions in supplies of petroleum products and to carry out obligations of the United States under the international energy program.”
As the Lord Leads, Pray with Us…
- For representatives in the House to have insight regarding the energy needs of this nation.
- For U.S. energy officials to accurately assess and retain the oil required for U.S. consumption.
- That the president and his administration would seek God’s wisdom regarding their policies on oil and energy.
Sources: Just The News, Business Insider, Department of Energy
