Unleashing American energy production, not draining our own emergency supply, is the lasting solution to stabilizing prices at the pump and protecting national security.
The U.S. Strategic Petroleum Reserve has plummeted to its lowest level since 1984.New statistics released indicate our national emergency oil stockpile, which is intended to protect the United States from unexpected and severe supply disruptions, has hit another historic low. It’s a dangerous point for the United States, and even worse, it’s self-inflicted. With these facts in mind,
Congress established the SPR following OPEC’s 1973 decision to halt oil trading with the United States. This situation illustrated the vulnerability of being overly reliant on foreign producers to supply our energy needs. As a result, President Ford signed the Energy Policy and Conservation Act, whichthe federal government to hold up to 1 billion barrels and disperse as necessary in cases of “severe energy supply disruptions.
This concerning reality could have been avoided if President Biden had prioritized American energy production, specifically crude oil and natural gas. Instead, his administration has championed harmful oil and gas policies that have handcuffed the energy sector. He canceled the Keystone XL pipeline, halted new drilling on federal lands, implemented regulatory hurdles, and raised taxes on energy companies.
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