What Tapping the US Strategic Petroleum Reserve Means

over 1 year in Washington Post

As US president, Joe Biden has a rarely used but potentially powerful tool to make up for energy supply shortages or economically damaging price spikes: the Strategic Petroleum Reserve, or SPR. Set up in the aftermath of the Arab oil embargo in the 1970s as a national energy safety net, it’s the world’s largest supply of emergency crude, stored in deep and heavily guarded underground salt caverns along the US Gulf Coast. Fighting rising gasoline prices, the Biden administration is in the midst o

Mentioned in this news
Share it on