Energy

Critics raise concerns about Strategic Petroleum Reserves’ decline

By Washington Examiner
Published April 6, 2023 12:48pm ET
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Critics raise concerns about Strategic Petroleum Reserves’ decline
An undated photo provided by the Energy Department shows crude oil pipes at the Bryan Mound site near Freeport, Texas. The U.S. emergency fuel tank _ the Strategic Petroleum Reserve _ is almost full for the first time since its creation about 30 years ago. The most obvious significance is that it gives the country a larger energy-security blanket than ever for the economy in the event of a future supply disruption. And the federal budget will get a small boost as oil companies resume paying royalties in cash, not oil, for operating on government lands. But the stockpiling of 700 million barrels of oil, which is scheduled for completion by the end of August, also could bring some immediate relief to the global energy market. | (AP Photo/Energy Department)

(The Center Square) – Lawmakers are raising concerns that the Strategic Petroleum Reserve, which President Joe Biden has relied on heavily since taking office, is getting dangerously low.

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