Biden Administration Plugs Away At Refilling Oil Stockpiles

The Biden Administration took one more baby step towards refilling the nation’s Strategic Petroleum Reserves (SPR), announcing on Friday a request for proposal for another 3 million barrels of crude oil for May delivery. The Strategic Petroleum Reserve started out at the onset of the current administration’s term with 638.1 million barrels in storage—the nation’s rainy day oil fund. But by the end of 2021, more than 44 million barrels had been sold off. In 2022, a whopping 221 million barrels had been sold off…