The emergency oil stockpile is at a 40-year low.
U.S. Secretary of Energy Jennifer Granholm recently stated that the oil levels of the Strategic Petroleum Reserve (SPR) will be refilled during the next presidential term.
“The first term’s over in a year and a half. So, I’m not sure it’ll be fully replenished. But certainly, the plan is this term and the next term to be able to do that,” said Secretary Granholm, who previously told legislators it could take years to refill the SPR. She added, “The bottom line is we are going to replenish.”
President Biden’s administration has reduced the reserve by 300 million barrels. Congress has canceled the intended sale of 140 million barrels of oil through fiscal year 2027. The energy department expects to recover 180 million barrels in the next five years.
As the Lord Leads, Pray with Us…
- For Energy Secretary Granholm as she evaluates the Strategic Petroleum Reserve.
- For U.S. energy officials as they assess the need for oil in the nation.
- For wisdom for the president and administration officials as they pursue clean energy.
Sources: CNN, Reuters
