Biden dangerously draining Strategic Petroleum Reserve like 'campaign credit card, industry warns

With crude inventory in the SPR down to its lowest level since Ronald Reagan's first term, President of the U.S. Oil and Gas Association Tim Stewart said the reserve is being used by Biden to "buy down political risk" ahead of the midterm elections.

-- Just The News , --September 29, 2022

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President Biden is recklessly draining the U.S. Strategic Petroleum Reserve to insulate his party from the political fallout of high oil prices before the upcoming midterm elections, claims the president of the U.S. Oil and Gas Association, Tim Stewart. Stocks of crude oil in the SPR fell 6.9 million barrels in the week ending Sept. 16 to 427.2 million barrels, the lowest level since August 1984, according to Department of Energy data.-- More...

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