The Ridgewood Blog Brings a Free Market Laissez-faire Point of View to Local, New Jersey State and National Issues.
the staff of the Ridgewood blog
Washington DC , the U.S. government is closing out a winning trade. President Joe Biden opened the country’s strategic petroleum reserve in 2022 in an effort to lower prices at the pump and wean Europe off Russian gas. After selling more than 200 million barrels to refiners in the mid-$90s, the Energy Department is now refilling in the mid-$70s.
the staff of the Ridgewood blog
Washington DC, the U.S. Department of Energy’s (DOE) Office of Petroleum Reserves today announced a Notice of Sale of up to 10 million barrels of crude oil to be delivered from the Strategic Petroleum Reserve (SPR) in November 2022. This Notice of Sale is part of President Biden’s announcement on March 31, 2022 authorizing the sale of crude oil from the SPR as continued support to help address the significant market supply disruption caused by Putin’s war on Ukraine and aid in lowering energy costs for American families.
