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Halls of Shrewd'm / US Policy
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Author: Dope1   😊 😞
Number: of 48495 
Subject: Raiding the oil reserve again
Date: 06/17/2024 4:00 PM
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We should just rename the thing "I need to show I care about gas prices" national stockpile. The words "Strategic reserve" kinda lose all meaning when you're not going to actually hold anything in it:

https://www.ft.com/content/cd56c82b-2652-4eb8-8669...

The Biden administration is ready to release more oil from its strategic stockpile to halt any jump in petrol prices this summer, as the White House battles to contain inflation ahead of the November election.
Amos Hochstein, President Joe Biden’s closest adviser on energy, said that prices at the pump were “still too high for many Americans” and he would like to see them “cut down a little bit further”.
“We will do everything we can to make sure that the market is supplied well enough to ensure as low price as possible for American consumers,” Hochstein told the Financial Times.
“I think that we have enough in the SPR if it’s necessary,” he added, referring to the country’s Strategic Petroleum Reserve.

Currently the SPR sits at its lowest level since the early '80s.

That thing better be refilled by 2027.

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