KJP Answers Questions About Admins Plan To Refill Reserves
On Wednesday, White House Press Secretary Karine Jean-Pierre faced tough questions during the daily press briefing, struggling to provide a clear answer on President Joe Biden’s decision not to refill the Strategic Petroleum Reserve (SPR). Fox News correspondent Peter Doocy reminded she was draining the SPR to offset rising gas prices, which the Biden administration had blamed on Russian President Vladimir Putin’s invasion of Ukraine in February 2022. Doocy pointed out that Biden had previously promised to refill the reserve, but recent reports have revealed that the administration has decided not to follow through with this plan.
During the briefing, Doocy questioned the administration’s change of course, asking, “Why not?” to which Jean-Pierre responded with a hesitant and disjointed response. She shifted the responsibility to the Department of Energy, stating that they were in charge of the process of refilling the SPR and that they would have more specific information on the matter.
According to reports, the decision not to refill the SPR was due to the high cost of oil in the current market. The Department of Energy released a statement saying that they would not be awarding current solicitations for the Bayou Choctaw SPR site and that they would only solicit available capacity as market conditions allowed. They also added that they would continue to monitor market dynamics.
DOOCY TIME: “First, the — so, you guys started draining the Strategic Petroleum Reserve to try and help with ‘the Putin Price Hike’ a few years ago. Said You were going to refill it. But now it doesn't seem like that's happening. Why?”
KJP: “Well, from — I believe the Department… pic.twitter.com/K5v77241lM
— Curtis Houck (@CurtisHouck) April 3, 2024
The news of the Biden administration not refilling the SPR has sparked criticism from some, including Daniel Turner, founder and executive director of Power the Future. Turner stated, “Joe Biden drained the SPR for political reasons, cut our domestic production for his climate agenda, and now he’s leaving our critical reserve more vulnerable because he’s incompetent.” He further added that this decision has resulted in higher costs for American citizens at the pump and grocery store and has made the SPR more vulnerable during a time of increasing tension in the Middle East.
The SPR was initially created in 1975 in response to the 1973-1974 oil embargo. The reserve was intended to serve as an emergency supply of oil in case of a disruption in the global oil supply. However, in recent years, the purpose of the reserve has shifted, with presidents using it as a tool to manage prices or as a bargaining chip in international negotiations.
The SPR was last used by former President Donald Trump in 2019 when he authorized the release of 11 million barrels of oil after drone attacks on Saudi Arabian oil facilities caused a disruption in the market. This decision had a significant impact on prices, causing them to drop by $0.25 per gallon within a week.
The Department of Energy has canceled its latest tender for crude oil for the replenishment of the strategic petroleum reserve after oil prices moved higher than the DoE is comfortable with.
Last month, the DoE purchased 2.8 million barrels at a price of $81 per barrel, which… pic.twitter.com/PDu7IwP7or
— Wall Street Silver (@WallStreetSilv) April 3, 2024
Biden’s decision not to refill the SPR has also raised questions about his administration’s energy policies. Critics argue that the administration’s emphasis on transitioning to renewable energy sources and its opposition to domestic oil production has left the U.S. more reliant on foreign oil, making the country more vulnerable to supply disruptions.
The administration has defended its decision, stating that refilling the SPR at a time of rising oil prices would be financially irresponsible. They also maintain that the SPR still holds enough oil to make a significant impact in the event of an emergency.
Some have also speculated that the decision not to refill the SPR may be motivated by political factors. With the 2022 midterms approaching and the public discontent over rising gas prices, refilling the SPR could be seen as a political loss for the Biden administration.
Despite the criticism and speculation, the Department of Energy has assured that the SPR will continue to be managed and utilized as needed to protect national security and ensure energy security for the American people. They also noted that they would closely monitor market dynamics and make decisions on refilling the SPR accordingly.