The Biden administration has claimed it drained the heavily depleted U.S. Strategic Petroleum Reserve (SPR) in order to save the “global economy.”
The White House’s International Energy Affairs adviser, Amos Hochstein, told CNBC “Squawk Box” host Joe Kernen on Dec. 5: “I had conversations—as did others, my colleagues—with CEOs and other senior executives in the oil industry in the United States ... We were told it will take us time to increase production, it would take us six months, seven months to increase production and bring that to market.
