Energy secretary says the department is “maintaining the readiness of the world’s largest Strategic Petroleum Reserve.”
The Department of Energy (DOE) announced that it purchased 4.65 million barrels of oil to replenish the Strategic Petroleum Reserve. In 2022, President Biden’s administration released 180 million barrels of oil from the reserve to address the inflated price of gas after Russia’s initial attack on Ukraine. Russia had provided a fair amount of oil to the global oil supply, and many Western nations proceeded to remove Russian oil from their economies.
While the department pledged to replenish the resulting shortfall, many legislators were growing concerned by how long it was taking to refill the reserves. After making smaller purchases over the last few years and negotiating the cancellation of 140 million barrels of reserve oil sales with Congress, this final purchase of 4.65 million barrels has replenished the 180 million barrel shortfall.
“As promised, we have secured the 180 million barrels back to the Strategic Petroleum Reserve … and we accomplished this while getting a good deal for taxpayers and maintaining the readiness of the world’s largest Strategic Petroleum Reserve,” Energy Secretary Jennifer Granholm stated.
As the Lord Leads, Pray with Us…
- For Secretary Granholm to be led by the Lord as she oversees the replenishment of the SPR.
- For members of the president’s administration to look to God for guidance as they fill their roles.
Sources: The Hill
