Biden Energy Department’s Claim It Replenished Strategic Petroleum Reserve Misleading, Expert Says

Joe Biden

When the Department of Energy announced that it had successfully replenished the nation’s stockpile with the total purchased volume of 40 million barrels, the announcement had some people scratching their heads.

The Strategic Petroleum Reserve (SPR), as the stockpile is called, contained over 630 million barrels of crude oil when President Biden took office in January 2021. Last week, it had less than 376 million barrels. How did the DOE refill the SPR with only 40 million barrels?

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Energy Secretary Insists Energy Stockpiles Will Be Refilled in 2024, but Experts are Skeptical

Secretary Jennifer Granholm

Energy Secretary Jennifer Granholm said Monday that the nation’s energy stockpiles, which President Joe Biden depleted to its lowest level since the 1980s, will be refilled by the end of 2024.

“By the end of this year we will essentially be back to where we would have been absent the sales,” Granholm said at the CERAWeek energy conference in Houston, Texas, according to AFP.

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