apr 4, 2024 - "Biden administration cancels buyback
of 3 million barrels to replenish oil stockpile"
The Hill 2024, Apr 4
Description:
The Biden administration has canceled two planned oil purchases aimed at replenishing the Strategic Petroleum Reserve (SPR), the Department of Energy confirmed Wednesday.
The planned purchases would have secured 3 million barrels later this year, part of a broader goal to fully replenish the SPR by year’s end. The Energy Department announced the planned buys, set to be delivered to a Louisiana facility, in March.
“Keeping the taxpayer’s interest at the forefront, we will not award for the Bayou Choctaw SPR site in August and September, and will continue to solicit available capacity as market conditions allow,” an Energy Department spokesperson told The Hill. “As always, we monitor market dynamics to remain nimble and innovative in our successful replenishment approach to protect this critical national security asset....”
Added to timeline:
Covert History
Details on history that were left out. The goal is not to ch...
Date:
