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Wednesday, Apr. 6, 2022

Did Biden suck dry the Strategic Petroleum Reserve?

Sarah Thompson, Lead Stories

no

On March 31, 2022, President Joe Biden announced a plan to release one million barrels per day from the Strategic Petroleum Reserve for the next six months. 

He called it "a wartime bridge to increase oil supply until production ramps up later this year. And it is by far the largest release from our national reserve in our history."

The most recent measure of the SPR inventory is 568 million barrels, and Biden's plan equals 180 million barrels. That amounts to releasing less than 32% of the reserve over six months — not "sucking it dry." 

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