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Biden Is Squandering the Trade of the Century

  • Article
  • May 5, 2023
  • #Politics #EnergyPolicy
Robinson Meyer
@robinsonmeyer
(Author)
heatmap.news
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This might sound like heresy from a climate-change reporter, but here goes: President Joe Biden should start buying oil soon. A lot of it. Specifically, he should begin refilling t... Show More

This might sound like heresy from a climate-change reporter, but here goes: President Joe Biden should start buying oil soon. A lot of it.

Specifically, he should begin refilling the Strategic Petroleum Reserve, or SPR, a set of subterranean salt caverns that line the Gulf Coast and can store hundreds of millions of barrels of oil. Over the past year or so, Biden sold 180 million barrels of oil from these caverns, but now it’s time to start buying that oil back. Doing so would help Biden’s domestic agenda and allow him to execute the trade of the century, generating billions of dollars in profits for the federal government.

But it would also help the climate. And every day that goes by without refilling that oil, Biden squanders his credibility and loses his clout. It’s time for the president to seal the deal.

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Alec Stapp @AlecStapp · May 6, 2023
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Good piece from @robinsonmeyer on why Biden needs to fulfill his commitment to refill the SPR
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