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Trump Just Got Handed a Forty-Year Low: America’s Strategic Petroleum Reserve Has Fallen Below 300 Million Barrels
['Caleb Larson', 'Harry J. Kazianis', 'Jack Buckby', 'Reuben Johnson', 'Written By']
National Security Journal
On Monday, the Department of Energy released data about the Strategic Petroleum Reserve.
The Strategic Petroleum ReserveThe United States Strategic Petroleum Reserve was created in 1975 after the 1973-1974 Arab oil embargo.
For most of its history, the Strategic Petroleum Reserve was, in essence, a kind of insurance policy rather than something the government routinely tapped.
But the biggest tapping of the Strategic Petroleum Reserve came in 2022, in the aftermath of Russia’s full-scale invasion of Ukraine.
Data compiled by Bank of America and reported by The Hill shows that current stocks in the Strategic Petroleum Reserve stand at about 43 days.