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IPFS News Link • Oil

Biden Regime CANCELS Plans to Refill Strategic Petroleum Reserve Because Oil Now...

•, by Jamie White

The Biden administration, after depleting the Strategic Petroleum Reserve (SPR) to its lowest level in 40 years, has decided not to replenish it because oil is "way too expensive."

This is a controlled demolition of the United States of America.

The Biden administration drained the SPR in 2022 and 2023 in a bid to bring gas prices down amid skyrocketing inflation.

Biden had given assurances that the U.S. would restock the SPR in due time.

Oil hit $86 a barrel on Wednesday amid geopolitical tensions in the Middle East and in Ukraine.

But apparently sending billions of dollars in assistance to Ukraine isn't "too expensive" for the Biden regime.

The White House has been pushing for Congress to pass a $100 billion aid package for Ukraine, but that bill was killed by House Republicans earlier this year.

Now, House Speaker Mike Johnson signaled the House will take up a vote for Ukraine assistance, but in the form of separate provisions or even a loan.

The SPR currently stands at around 363 million barrels, according to data from the Energy Information Administration, down from the start of 2022, when levels stood at around 600 million barrels.

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