Energy

Desparate Biden Taps Strategic Petroleum Reserve

President Biden--Mr. Climate Change-- has ordered in an act of total political desperation, 50 million barrels of oil be released from America’s strategic reserve to help bring down energy costs. Since he can not get the OPEC nations to increase their production after humiliating begging them, he has decided to tap our own domestic supplies in storage in a futile effort to reduce gasoline prices.

Whoa, wait a minute, I thought fossil fuels were verboten and inflation was a temporary problem.

The Strategic Petroleum Reserve is an emergency stockpile to preserve access to oil in case of natural disasters, national security issues and other extraordinary events. The SPR was created in 1975 as a hedge against the “Energy Crisis” created by the Arab Boycott. The reserves are stored in caverns created in salt domes in Texas and Louisiana, about 600 million barrels.

The Biden administration has argued the reserve is the right tool to help ease the supply problem. However, the amount will not have a significant effect on supply, or any meaningful effect on prices. America uses an average of 20 plus million barrels a day, so the release is about two-and-a-half days of additional supply. Yawn.

Mr. Biden has done everything possible with more to come to discourage domestic oil and gas production. Now, he wants to use the SPR to influence the market and show he is doing something about inflation, a purpose for which it was never intended. Pathetic political gimmickry.


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  • Jack O. NutterJack O. Nutter is a Washington DC attorney and a principal in the consulting firm Nutter & Harris, specializing in political and strategic advice with notable experience in tax, energy, environmental and climate issues.

    Mr. Nutter was previously Tax Counsel to the US Senate Finance Committee and has been involved in several US presidential campaigns.

    He has been in private law practice and worked in the former Soviet Union, Europe and Africa for 15 years on private investment and government projects.

    He holds a Master of Laws (taxation) from Georgetown University Law Center and a Doctor of Jurisprudence from the University of Arizona College of Law. He has been published in numerous tax journals and magazines.

    Reach Jack by e-mail here.