Strategic Petroleum Reserve Near Historic Lows – Biden Drained SPR Down to Just 17 Days of Supply as War Breaks Out in Middle East

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Joe Biden’s America.

The Strategic Petroleum Reserve is near historic lows after Biden drained the SPR down to just 17 days of supply as war broke out in the Middle East.

According to Reuters, data provided from the Energy Information Administration (EIA) showed the Strategic Petroleum Reserve had about 351.3 million barrels as of September 29.

Biden sold the U.S. Strategic Petroleum Reserves (SPR) to Europe, India and China.

Joe Biden depleted the SPR to help China.

Fox Business reported:

The Biden administration’s drawdowns of the Strategic Petroleum Reserve (SPR), which serves as America’s emergency stockpile of petroleum, and high market prices delaying efforts to replenish it have left the reserve near its lowest level since 1983 as the war in the Middle East that could destabilize global oil supplies.
Data from the Energy Information Administration (EIA) indicates that the SPR had about 351.3 million barrels of oil stockpiled as of the week ending Sept. 29 — a slight increase from the lows of 346.8 million barrels in July and August. The last time the SPR was at or below 350 million barrels for an extended period of time was the fall of 1983, when it was still in the process of being filled, and the reserve had over 650 million barrels stockpiled for most of the last decade.

A 2021 estimate from the EIA puts U.S. oil consumption at about 20 million barrels of oil per day. This means that if the U.S. was forced to rely solely on oil in the SPR without access to new domestic production or imports, the U.S. would deplete the SPR in about 17 days — about half the historical average of 33 days dating back to 1990.

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Strategic Petroleum Reserve Near Historic Lows - Biden Drained SPR Down to Just 17 Days of Supply as War Breaks Out in Middle East | The Gateway Pundit | by Cristina Laila

Joe Biden’s America.

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