The Biden administration said Monday it is selling 26 million barrels of crude oil from the Strategic Petroleum Reserve, a release that had been mandated by Congress in previous years.
The sale will likely temporarily push the reserve below its current level of about 372 million barrels, the lowest level since 1983. U.S. Energy Department said bids on the oil are due on Feb. 28 and that the oil would be delivered from April 1 to June 30.
The department had considered canceling the fiscal year 2023 sale of the 26 million barrels after the Biden administration last year sold a record 180 million barrels from the reserve. But such a cancellation would have required Congress to act. The administration sold the 180 million barrels of oil…
…Last year, Congress canceled sales of about 140 million barrels from the SPR …
Biden Taking Strategic Oil Reserve to Lowest Level Since 1983 – His Plan for Keeping Down Prices Won’t Last Forever
- by: Joe Hoft
- 02.14.23
- Source:
Joe Hoft
- 02/15/2023
Oil Reserve by is licensed under pixnio
Oil Reserve by is licensed under pixnio
Follow us
Read our latest news on any of these social networks!
Get latest news delivered daily!
We will send you breaking news right to your inbox
Have a tip? Let us know!
Recent Articles
- by: Aldgra Fredly
- Source:
The Epoch Times
- 05/03/2024
US Presses China, Russia to Declare AI Will Have No Control Over Nuclear Weapons Deployment
A U.S. arms control official said that Washington ‘would never defer a decision on nuclear employment to AI.’
- by: Catherine Yang, Michael Washburn
- Source:
The Epoch Times
- 05/03/2024
Testimony in Trump Trial Continues After Witness Rejects ‘Hush Money’ Claims
[epoch_component type=”live_update” section_title=”What to Know” update_time=”2024-05-03T07:00″ inline_authors=”” update_source=”” pinned=”false”] The trial of former President Donald Trump continues, as the Manhattan District Attorney has charged him with 34 counts of falsifying business records, allegedly to cover up a scheme to influence the 2016 election. At the center of the case is a $130,000 payment made by […]
- by: Caden Pearson
- Source:
The Epoch Times
- 05/03/2024
Arkansas Gov. Sanders Issues Executive Order Defying Biden Admin’s Title IX Rule
Gov. Sarah Huckabee Sanders called the Title IX expansion ‘plainly ridiculous.’
- by: Catherine Yang, Michael Washburn
- Source:
The Epoch Times
- 05/02/2024
Judge to Hear Defense Against Holding Trump in Contempt
[epoch_component type=”live_update” section_title=”What to Know” update_time=”2024-05-02T07:00″ inline_authors=”” update_source=”” pinned=”false”] New York Supreme Court Justice Juan Merchan has scheduled a 9:30 a.m. hearing on an order for the defense to show cause why he should not hold the defendant, former President Donald Trump, in contempt for four public statements he has made about the case. The […]