Biden Draws Down Oil Reserve 35%

Political Move Empties Critical Reserve Most In History

  • The U.S. strategic oil reserve, created to protect consumers against “economically threatening” disruptions in oil supplies, is now at its lowest level in 38 years. That’s according to a review of weekly stock reports by the U.S. Energy Information Administration (EIA).
  • That’s down from 638,086 barrels in Jan 2020, when President Joe Biden took office from President Donald Trump, a decline of 35 percent.
  • No U.S. President has lowered the SPR by more than eight percent during their term in office.
Click to read full article Go back home

Sign Up for Our Newsletter

Join our list!

Sign up here to get our daily newsletter with the top trending headlines.