The draining of the SPR is not a wise energy policy

[dan_s]

US emergency oil supply shrinks to 40-year low as Biden keeps tapping reserve. Fox Business.
President Biden is once again tapping into the country's emergency stockpile of oil as the White House tries to prevent gasoline prices from spiking again, reducing the petroleum reserve to its lowest level in four decades. The nation's Strategic Petroleum Reserve had 416.4 million barrels in the week ended Sept. 30 – the lowest level since 1984 – after the Biden administration released another 6.2 million barrels, according to Department of Energy data. Biden had tapped the emergency oil stash four times over the past year in hopes of lowering gas prices, including in March, when he ordered a record-setting 180 million barrels of oil released from the reserve – 1 million barrels per day over six months.

America wants more oil, but only from other countries. Forbes. Opinion.
The self-defeating nature of various Biden energy policy moves continued Thursday as officials let it be known they are considering a pair of actions apparently designed to make the domestic situation related to oil and gas worse, not better. Biden officials are preparing to ease sanctions on the Nicolas Maduro regime in Venezuela to allow it to pump more oil in exchange for “constructive talks” with the political opposition, as reported by the Wall Street Journal. The move would be designed to allow ChevronCVX and other U.S. companies with interests in the authoritarian country to ramp-up exploration and production efforts there. < Biden will be in a nursing home before this impacts oil prices here.