Alex Epstein

@AlexEpstein ↗

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Last Checked March 15, 2023

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Wed Mar 08 16:43:24 +0000 2023

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Alex Epstein @AlexEpstein

Even when full (at 714 million barrels), the SPR contains only 1/10th of US annual oil consumption (>7 billion barrels) and now (at 370M barrels) it contains 1/20th. This means less oil for real emergencies—such as wars, terrorist attacks or cyberattacks on US oil operations. — PolitiTweet.org

Posted March 8, 2023

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Alex Epstein @AlexEpstein

But instead of responding to artificially high oil prices, a consequence of anti-oil policies, with a reversal of those policies, Biden chose to keep his anti-oil policies but lower short-term prices by depleting our SPR—now down to its lowest level since the early 1980s. https://t.co/EI8KfMZhQN — PolitiTweet.org

Posted March 8, 2023

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Alex Epstein @AlexEpstein

The administration claims Putin's war is exactly the kind of “emergency” the SPR is designed for. Wrong. Putin's war is not an oil emergency that justifies depleting the SPR now; it is a potential oil emergency that justifies keeping the SPR as full as possible. — PolitiTweet.org

Posted March 8, 2023