Biden’s Mistake: US Vulnerable to Oil Cartels – You Won’t Believe How Close the Reserve is to Being Empty
The U.S. oil caverns, once massive reserves, now stand empty due to actions taken by the Biden administration. According to Bloomberg, refilling these underground storage areas will be a challenging undertaking that may take several decades or even more. The Strategic Petroleum Reserve (SPR) currently holds only 346.8 million barrels, the lowest level since 1983, out of a total storage capacity of 714 million barrels. This scarcity amounts to around a mere 20 days’ worth …