Biden faces tough challenge to replenish US oil reserves.

Biden Fails to Replenish America’s Oil Reserves

President Joe Biden promised to replenish the 180 million barrels he sold from the Strategic Petroleum Reserve last year, but six months later, he has yet to purchase a single barrel of reserve oil. The Energy Department recently announced its intention to purchase up to three million reserve barrels, but the administration’s “replenishment strategy” has been criticized by Republicans for its lack of progress.

Failed Attempts to Purchase Reserve Oil

In December, Biden’s Energy Department attempted to purchase three million reserve barrels, but all offers were either too expensive or didn’t meet the required specifications. Energy Secretary Jennifer Granholm has confirmed that the administration will be unable to refill the reserve to the levels Biden inherited, leaving America vulnerable to a true energy emergency.

Modest Replenishment Goals

Biden’s Energy Department is now channeling its replenishment efforts toward a more modest goal, citing its role in canceling congressionally mandated sales that would have seen the oil reserves.”>department sell 140 million reserve barrels between 2024 and 2027. As a result, the department says, the reserve will be effectively replenished by 2027—not because the barrels Biden sold will have been bought back, but rather because the reserve will save barrels thanks to the canceled sales.

Congressional Scrutiny and National Security Concerns

Biden’s lack of progress on filling the reserve will likely attract additional congressional scrutiny as Republicans express concern that the depleted stockpile hurts America’s national security. Texas Republican congressman Wesley Hunt criticized Biden for playing fast and loose with the nation’s oil reserves, especially during a time when Russia, Ukraine, and China are engaged in conflicts.

• Biden has failed to purchase a single barrel of reserve oil since December.
• The Energy Department recently announced its intention to purchase up to three million reserve barrels.
• The administration’s “replenishment strategy” has been criticized by Republicans for its lack of progress.
• The Energy Department is now channeling its replenishment efforts toward a more modest goal.
• Biden’s lack of progress on filling the reserve will likely attract additional congressional scrutiny as Republicans express concern that the depleted stockpile hurts America’s national security.

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