Strategic Petroleum Reserve

Rising gasoline prices may hand midterm elections to the Republican Party, so Joe Biden is tapping America’s emergency reserves.

On October 19, he announced he would sell 15 million barrels of oil from the Strategic Petroleum Reserve to ease pain at the pump. Half of Republicans and two thirds of Democrats support this move, but it drains emergency reserves to the lowest level in decades.

Four-decade low: After the Organization of Arab Petroleum Exporting Countries refused to sell oil to America in the 1970s, the government established a reserve big enough to hold 727 million barrels of oil. It used this oil to get through crises like Operation Desert Storm, Hurricane Katrina and the First Libyan Civil War. Now, Biden is draining America’s emergency oil reserves for political purposes.

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