THE SIGNAL
Six months into admin’s ‘replenishment strategy,’ Biden has purchased zero reserve barrels
President Joe Biden makes the zero sign / Getty Images
President Joe Biden in December began working to replenish the 180 million barrels he sold last year from the Strategic Petroleum Reserve. Nearly six months later, he still has zero barrels to show for it.
Biden’s Energy Department on Monday announced its intention to purchase up to three million reserve barrels as a “continuation” of the president’s “replenishment strategy.” So far, however, that “strategy” has seen the Democrat fail to purchase a single barrel of reserve oil. The administration first tried to purchase three million reserve barrels in December, when Biden kicked off his “plan to replenish the SPR.” One month later, Biden’s Energy Department revealed it had rejected all offers it received to purchase the oil because those offers “were either too expensive or didn’t meet the required specifications.”
Republicans have hammered Biden for his management of the reserves, which sit at their lowest levels in four decades after the Democrat last year sold 180 million reserve barrels in an attempt to lower gas prices ahead of a difficult midterm e …