The U.S. Strategic Petroleum Reserve (SPR) is a stockpile of crude oil maintained by the U.S. government.
- crude oil is held in four underground storage facilities located in Texas and Louisiana
- reserve is managed by the Department of Energy's Office of Petroleum Reserves
Sales to counter surging prices in 2022 have continued but US President Biden is moving to add reserves back in. US Energy Envoy Hochstein says Biden is committed to replenishing the SPR.
Biden seems to understand sell high and buy low ...