Biden’s Drawdowns From Strategic Oil Reserve Are Illegal, Cause Irreversible Damage: Oil Investor and Attorney

U.S. President Joe Biden announces the release of 1 million barrels of oil per day for the next six months from the U.S. Strategic Petroleum Reserve, as part of administration efforts to lower gasoline prices, during remarks in the Eisenhower Executive Office Building’s South Court Auditorium at the White House in Washington, on March 31, 2022. Kevin Lamarque/Reuters

An energy industry insider and an attorney said that President Joe Biden is using the strategic oil reserve illegally for political gain and causing irreversible damage.

The White House announced on Oct. 18 that there are about 400 million barrels of crude oil remaining in the strategic petroleum reserve. It means the Biden administration has eliminated 34 years of strategic oil reserve stockpiling and pushed the reserve level down to its 1984 level.