Biden’s legacy: Energy Secretary Chris Wright seeks to refill the Strategic Petroleum Reserve, which former President Joe Biden drained to its lowest level since the 1980’s. House Republicans are proposing $1.54 billion for repairing the damage Biden’s draw down caused and for oil buys to refill the stockpiles.
Energy Secretary Jennifer Granholm was heavily criticized Friday after a Fox News Digital report showed she spoke twice with a top Chinese government official before the White House announced plans to tap emergency oil stocks.
Bob McNally, who served as an energy adviser to former President George W. Bush, told CNN that the recent draining of the SPR “was a mistake that will take many years to correct.”
The US Oil & Gas Association mocked President Biden on Wednesday for seemingly having no other options to counter rising gas prices than turning to the U.S. oil industry his administration has snubbed.
More than 5 million barrels of oil that were part of a historic U.S. emergency reserves release to lower domestic fuel prices were exported to Europe and Asia last month, according to data and sources, even as U.S. gasoline and diesel prices hit record highs.
“As you are aware, the Biden administration recently announced the largest SPR [Strategic Petroleum Reserve] drawdown in history, with plans to release up to 260 million barrels of crude oil from the SPR from October 2021 through October 2022,” the lawmakers wrote.
Another Devil’s advocate © 2021. All rights reserved.
