USA's oil stockpile (SPR) becoming seriously depleted.

The USA maintains a large stockpile of petroleum known as the SPR (Strategic Petroleum Reserve), which was meant to provide the USA with a cushion in the event that foreign oil supplies were interrupted. In recent months, the SPR has become seriously depleted.

As of mid-October, numbers from the Energy Information Administration [ EIA ] and the Strategic Petroleum Reserve [ SPR ] website show reserve oil levels of just around 405 million barrels or 57 percent of storage capacity, down from almost 580 million barrels in February [ 2022 ] before . . . [ Russia's ] invasion of Ukraine and more than 650 million at the height of the first coronavirus wave in the spring of 2020.

See the websites that Statista refers to: EIA's website and SPR's website

     Statista adds that, prior to Biden's Presidency, the emergency powers of the SPR have been called upon only thrice since the SPR's creation in the 1970s.

     Biden's releases of oil from the SPR drew a sharp rebuke from The Epoch Times.

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Tuesday, 25 June 2024