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Biden Administration Announces Another Purchase of Oil to Replenish Strategic Petroleum Reserve

Biden Administration Announces Another Purchase of Oil to Replenish Strategic Petroleum Reserve
In an aerial view, the Strategic Petroleum Reserve storage at the Bryan Mound site is seen in Freeport, Texas, on Oct. 19, 2022. Brandon Bell/Getty Images
Jeff Louderback
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The Biden administration said on Dec. 16 that it will purchase 3 million barrels of oil to replenish the country’s Strategic Petroleum Reserve (SPR).

The Department of Energy’s (DOE) Office of Petroleum Reserves said in a statement that it will start repurchasing crude oil for the SPR “to secure a good deal for American taxpayers by repurchasing oil at a lower price than the $96-per-barrel average price it was sold for, as well as to strengthen energy security.”

Jeff Louderback
Jeff Louderback
Reporter
Jeff Louderback covers major news and politics, including the Make America Healthy Again movement and regenerative farming. Since joining The Epoch Times in 2022, he has covered national elections, the Robert F. Kennedy Jr. presidential campaign, the East Palestine train derailment, and the aftermath of Hurricane Helene in western North Carolina. Jeff has 30-plus years of professional experience as a reporter, editor, and author.
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