[The Epoch Times, June 2, 2022](The Epoch Times reporter Daphra comprehensive report) On Thursday (June 2), the Republican leaders of the U.S. House of Representatives Energy and Commerce Committee sent a letterBidenThe administration, asking for answers on how the release of its oil stockpiles could weaken U.S. national security.
In a letter first obtained by DailyCaller News, Republican Rep. Fred Upton, chairman of the House Energy Subcommittee, and senior member Rep. Cathy McMorris Rodgers ) said in a letter to Energy Secretary Jennifer Granholm,Bidengovernment from strategyoil reservesThe decision to release oil gave the United States’ main adversary, China (CCP),Russiaand Middle East oil-producing countries, for “geopolitical influence”.
“Despite soaring oil prices and President Biden’s call for a coordinated (international) release of oil reserves, China has in fact stepped up its purchases of crude oil from Russia and the U.S. to add to its own reserves,” the two Republican leaders wrote. “China (China) is reportedly in talks with Russia to buy more oil from its strategic reserves, while the U.S. and EU have committed to ban imports from Russia.”
“As a result, China (CCP) may now control the largest oil inventories in the world, totaling an estimated 950 million barrels of crude oil,” they continued in the letter.
The two Republican lawmakers listed a series of questions about the administration’s strategic petroleum reserve policy and plans to replenish the reserves, and asked the energy secretary to answer within two weeks.
They asked for answers about which countries are the biggest buyers of SPR crude and how a lack of cooperation from China in coordinating the release of the reserves in 2021 has reduced the impact of this international collaborative effort.
President Biden ordered the release of 50 million barrels of the Strategic Petroleum Reserve in November 2021, 30 million barrels on March 1, and 180 million barrels on March 31, in response to rising gasoline prices. While the massive oil release is expected to continue into the fall, the remaining U.S. Strategic Petroleum Reserve stockpiles have reached their lowest levels since 1987.
“The Department of Energy must maintain the nation’s oil reserves in a manner that does not limit our ability to prevent or reduce the adverse effects of genuine energy supply shortages,” Rogers and Upton wrote.
“Even if the U.S. is a net exporter of crude oil and petroleum products, the Strategic Petroleum Reserve must maintain sufficient inventories and operating capacity to mitigate potential disruptions (risks), such as those that have occurred following hurricanes in the Gulf of Mexico in recent years.” They added, “This is critical to America’s energy security and national security.”
Biden’s SPR release has had minimal impact on oil and gasoline prices, both of which have exceeded pre-release prices. The national average for gas prices hit an all-time high of $4.72 a gallon Thursday, according to the AAA.
In addition, a former U.S. Department of Energy official said in April that Biden’s release from the Strategic Petroleum Reserve was illegal because the reserves were intended to be used only in the event of severe domestic supply shortages, vandalism or natural disasters.
Responsible editor: Lin Yan#