“So after 50 years of being virtually empty, I built up our oil reserves during my administration, and low energy prices, to 100% full,” Trump’s statement reads. “It’s called the Strategic National Reserves, and it hasn’t been full for many decades. In fact, it’s been mostly empty. It’s supposed to only be used for large-scale emergency or conflict. Now I see where Biden has just announced he’s going to take what we so carefully and magically built, and what will be a futile attempt to reduce oil and gasoline prices. They will soon bring it down to empty again.”
The oil stocks were at 695.1 million barrels for the week ending Jan. 20, 2017, which was the same day that Trump was sworn in as president. The supply declined almost weekly from that point on, until the reserve had about 638.1 million barrels on hand as of the week ending Jan. 15, 2021. That was five days before Biden was inaugurated.
“SPR releases of crude oil can occur under four conditions: emergency drawdowns, test sales, exchange agreements, and nonemergency sales,” the EIA said in a March 8 post about the U.S. commitment to release 30 million barrels of oil as part of an international agreement with 30 other countries.
The oil stocks were at 695.1 million barrels for the week ending Jan. 20, 2017, which was the same day that Trump was sworn in as president. The supply declined almost weekly from that point on, until the reserve had about 638.1 million barrels on hand as of the week ending Jan. 15, 2021. That was five days before Biden was inaugurated.
“SPR releases of crude oil can occur under four conditions: emergency drawdowns, test sales, exchange agreements, and nonemergency sales,” the EIA said in a March 8 post about the U.S. commitment to release 30 million barrels of oil as part of an international agreement with 30 other countries.
