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Page added on February 18, 2023

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USA to Sell 26MM More Barrels From Strategic Oil Reserve


The Biden administration plans to sell more crude oil from the Strategic Petroleum Reserve, with deliveries estimated to happen between April and June.

The non-emergency sale will amount to 26 million barrels of crude, according to people familiar with the matter, and is part the congressionally mandated sale lawmakers approved years ago for the current fiscal year.

The Energy Department has sought to stop some of the sales required by 2015 legislation so that it can refill the emergency reserve, which currently has about 371 million barrels. After this latest release, the reserve will dip to about 345 million barrels.

Biden officials decided last year to tap 180 million barrels from the strategic oil reserve in an effort to lower prices after Russia invaded Ukraine and sent crude surging above $100 a barrel. Some Republicans have criticized the Biden administration for that drawdown, which was the biggest release ever and helped drain the SPR to its lowest level since 1983. Critics admonished the move as a political stunt intended to combat rising gasoline prices ahead of midterm elections.

Biden officials have since spoken with energy companies about purchasing oil to refill the SPR when oil prices approach $70 a barrel.

The US House last month passed legislation meant to curb the Energy secretary’s ability to use the reserve unless the government increases the amount of federal lands available for gas and oil drilling.

Other congressionally required releases — about 140 million barrels slated for fiscal years 2024 through 2027 — were canceled after lawmakers in December approved a provision in a giant spending bill.


5 Comments on "USA to Sell 26MM More Barrels From Strategic Oil Reserve"

  1. makati1 on Sat, 18th Feb 2023 3:25 pm 

    I wonder what they will do when it is empty? Refill it with $500/bbl oil? LOL

  2. Theedrich on Thu, 2nd Mar 2023 4:52 pm 

    It looks like Ukraine is trying to distract public attention from the closing noose in Artyómovsk (Артё́мовск) by attacking villages in Russia itself and killing civilians there.  Biden must be delighted, since he loves to see non-combatants anywhere (cf. Afghanistan) killed by the forces under his control.

    Artyómovsk will probably be liberated this month (March 2023), opening the way to further Russian advances.  Even NATO’s ~20,000 mercenaries (especially Poles) are not preventing that liberation.  Also, the grand headquarters of Biden’s mass murder of civilians, Avdéevka (Авде́евка), from which countless Russian non-combatant citizens in and around the city of Donétsk (Доне́цк) city have been killed, is also gradually being encircled by Russian troops.

    President Lukashenko of White Russia (Белору́сы) has signed a number of treaties and contracts with China during a meeting with Xi Jinping there.  The Washington warmongers are jittery about this, and will be demanding yet more preparations for World War Three against the Middle Kingdom.  The Communist Party of China consdiders White Russia an indirect connection to Russia itself and its president, Vladímir Vladímirovich Pútin (Влади́мир Влади́мирович Пу́тин.  In other words, China is obliquely supporting Russia in its resistance against U.S. hegemony and America’s Ukrainian proxy war against Russia.  Perhaps China will send “lethal aid” (e.g., drones) to White Russia rather than directly to Russia itself.  That will be an apt response to the American supply of lethal aid to Taiwan.  (In the U.S., both political parties of the federal crime syndicate are seeking to use Taiwan as an excuse to ignite a thermonuclear war against China.)

    𝖁𝖊𝖗𝖎𝖙𝖆𝖘 𝖑𝖎𝖇𝖊𝖗𝖆𝖇𝖎𝖙 𝖛𝖔𝖘.

  3. eee on Sat, 4th Mar 2023 8:08 am 

    Remember this comment. Notice Malaysia was on my list.

    I gave to my list of nations that I would eliminate first to keep earth experiment going a lit bit longer.

    The nations that will be eliminated first are: India, Singapore, Japan, South Korean, Africa, New Zealand, Indonesian, Malaysia, Bangladesh UK, Western Europe, Nordic Europe, Western Europe, Israel,

    Here is a y revise list of nations I would eliminate to keep earth reality going a bit longer: India, Singapore, Japan, South Korean, Africa, New Zealand, Indonesian, Malaysia, Bangladesh UK, Western Europe, Nordic Europe, Eastern Europe, Israel, Pakistan, Afghanistan, Australia, Thailand, Cambodia, Vietnam.

    Malaysia battered by heavy rains, 40,000 residents flee their homes | Latest World News | WION

  4. eee on Sat, 4th Mar 2023 8:16 am 

    See comment above.

    It would be easier for me to do a list a nations I want to keep in order to keep earth reality alive: Some South America nations, North American, Russia, Some China cities, Saudi Arabia. That is it.

    There you that is it.

  5. the backrooms on Tue, 23rd May 2023 8:35 pm 

    The influence of the oil and gas industry on countries can be seen

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