The Biden administration will pause its replenishment of the nation’s Strategic Petroleum Reserves because oil has become too expensive, the White House said.
Earlier in his term, Biden drained about half of the U.S. oil reserves down to their lowest level in decades in order to try to lower gas prices, which surpassed a record national average of more than $5 per gallon in 2022 before coming back down. Now, Biden’s effort to replenish those reserves have been stalled.
Critics warn that lower oil reserves are a national security issue for the U.S. If the reserves are low when a larger war or crisis occurs, refilling the reserves could be much more difficult and certainly more expensive.
Biden has taken fire from Republicans for hindering U.S. oil production and lowering the reserves. The Biden administration has increased regulatory pushback for oil domestic production while raising ongoing concerns about climate change.
“The Biden administration’s war on U.S. energy is crippling hardworking Americans and has led to our Strategic Petroleum Reserves being at their lowest levels since the 1908s,” U.S. Rep. Mike Collins, R-Ga., wrote on X, formerly Twitter. “Reverse course and restore U.S. energy dominance!"
