The emergency oil stockpile is at a 40-year low. U.S. Secretary of Energy Jennifer Granholm recently stated that the oil levels of the Strategic Petroleum Reserve (SPR) will…
Read MoreStrategic Petroleum Reserve
Administration Offers Congress Reassurance on SPR
Legislators receive a letter from Energy Department. Congress received a letter from the Department of Energy earlier this month, offering the administration’s response to congressional concerns about the…
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Gas Prices at the Pump Going Up Again
Nation seeing its fifth straight week of increase. According to data compiled by Gas Buddy, Americans are likely to see gasoline prices reach $4 a gallon and more. In…
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Secretary Granholm Expects Veto of SPR Bill
The secretary conveyed executive sentiments at a White House press briefing. Secretary of Energy Jennifer Granholm spoke at a White House press conference on Monday, where she shared…
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Energy Secretary Responds to Proposed Legislation
Strategic Production Response Act would limit presidential authority over Strategic Petroleum Reserve. Energy Secretary Jennifer Granholm sent a letter to majority members of the House, expressing her concern…
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House Bill Bans Strategic Petroleum Sales to China
Energy Department lacks funds to replenish reserves. The House of Representatives passed a bill that bans releases of oil from the U.S. Strategic Petroleum Reserve from being sold…
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House Votes to Repeal 87,000 IRS Agent Funding
Part of the “Commitment to America” agenda. The House of Representatives voted to repeal part of the Inflation Reduction Act that provided funding to hire up to 87,000…
Read MoreCongressionally Mandated Oil Reserve Sales Cancelled for 2023
SPR levels were significantly depleted by sales in 2022. Congress included a provision in the 2023 spending bill that cancels certain mandated sales from the Strategic Petroleum Reserve…
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President Calls for Increased U.S. Oil Production
White House plans to restock emergency reserves. On Wednesday, President Biden announced a plan he claims will produce a “profit for taxpayers” and it includes increased production from…
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President Plans More Strategic Oil Reserve Releases
Will give out 10 to 15 million barrels between now and midterms. Earlier this week, President Biden suggested he would announce new actions to address rising gas prices,…
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