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Posted on 06/15/2026 11:00:17 AM PDT by CondoleezzaProtege
The amount of oil in the US Strategic Petroleum Reserve plunged last week to the lowest level since 1983 as the Trump administration continues to deploy emergency oil to minimize the damage from the war with Iran.
According to federal data released Monday, US officials released another 8.9 million barrels from the SPR last week alone.
“The Strategic Petroleum Reserve releases, combined with releases by other governments and China reducing its exports, have prevented the Armageddon scenario of $150 oil from happening to date.”
The emergency oil released since the war with Iran start will have to get replaced over time – but that replacement will not happen in time for the height of hurricane season.
(Excerpt) Read more at cnn.com ...
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I thought Biden and Obama used alot of that stockpile.
Please let’s not forget that Biden drained a bunch of it right before the election just help Kamala
Don’t know if Trump is Reagan but he really projects a desire for peace like FDR not to mention Woodrow Wilson and we seem to be holding the bag on some wars out there like the still hot Ukraine War Israel never gave launching attacks in Gaza.
Iran we shall see. China is subject to economic warfare three key companies (BYD, Baidu, Alibaba) got ‘military companies’ designation from Department of War last week.
If the USA is exporting oil why do we need to use the SPR?
CNN
When oil spiked - the NEXT DAY it was up 40c at the pump.
Now it’s dropped $30, and only a few cents at the pump.
I'm no "Landman", but there are various qualities of crude. I hear ours is a very prime one and gets higher prices for export. What goes into the SPR may be a lower quality. My guess, any way.
How does “...China reducing its exports...” reduce oil prices?
the did- especially biden- and cnn as well as the rest of the criminal liberal media didn’t bat an eyelash...
Yep, total gaslighting. Soon will be a great time to refill; thanks world for buying our oil last couple months.
They look like conjoined twins!
I watched the 11pm news (Seattle area) last night. The “deal” had been reached just a few hours before. Yet, they dwelled on the high price of gasoline and how far the price went up since Trump became president. No mention of the war or peace agreement etc.
That makes sense.
Stop being racist. /S
Using the stockpile for political purposes is very bad. I understand why, politically, Trump is doing this. But higher prices will spur more production and lower the price. By artificially holding down the signal, by lowering prices, production is kept lower than necessary. The problem is, if the crisis runs long and there’s a real emergency then we are well and truly screwed.
I think if Trump were able to explain why he was letting the price float the American people...at least half...would understand. We’re not...mostly...children. We’ll understand, yes, this will hurt, but it’s necessary.
Production in the US is held down by Saudi over production because it costs the Saudi’s three dollars per barrel to pump oil. In the US the price varies from six to twelve dollars. If the price is held low the American wells are kept offline.
I’ll bet CNN didn’t use the word “emergency” when Biden tapped the reserve. How do people still fall for that channel’s bs?
CNN - No thanks. Every person who clicks on the link is putting money in CNN’s bank account.
Does anyone have the numbers from 2020 to today?
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