The Biden administration purchased 2.8 million barrels to partially refill the Strategic Petroleum Reserve (SPR) at prices significantly higher than prevailing prices when former President Donald Trump proposed to top off the key stockpile in 2020, the Department of Energy (DOE) announced Thursday. The 2.8 million barrels announced Thursday are part of a wider effort by the DOE to refill America’s emergency oil reserves after the administration released about 180 million barrels in 2021 and 2022 to bring down prices at the pump ahead of the 2022 midterm elections. The administration’s refill p…
