ICYMI – US DoE confirms no additional SPR releases for now (d’uh)

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Hardly stunning, however posting this in case there may be any doubt. Vitality Secretary Jennifer Granholm talking with Reuters on Thursday.

  • U.S. President Joe Biden’s administration is weighing the necessity for additional releases of crude oil from the nation’s emergency stockpiles after the present program ends in October, Vitality Secretary Jennifer Granholm instructed Reuters on Thursday.
  • A Division Of Vitality official later mentioned the White Home was not contemplating new releases from the U.S. Strategic Petroleum Reserve (SPR) right now past the 180 million barrels that the president introduced months in the past.

The Biden administration has siphoned off about 1 million barrels of oil per day from SPR stockpiles.

Whereas correlation is just not causation the intent was to decrease the value of gasoline, and the value of the gasoline has dropped considerably.

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