WASHINGTON – U.S.  Senator Jerry Moran (Kan.) today urged President Biden to stop depleting  the Strategic Petroleum Reserve (SPR), which is at its lowest point in  four decades, and unleash American energy production.

“Given  that the United States consumes nearly twenty million barrels of oil  per day, the recent decision to release another ten million barrels from  the SPR is not only reckless, but it will have a minimal effect on  lowering prices at the pump,” wrote Sen. Moran. “Draining our  emergency supplies is a short-sighted and dangerous choice that imperils  our energy security at a critical time of global uncertainty.”

“The  concerning announcement by the Organization of the Petroleum Exporting  Countries (OPEC) to reduce oil production underlines the importance of  American energy independence,” continued. Sen. Moran. “The United  States can no longer stand by as OPEC continues to consolidate power  over the world’s energy markets. Now is the time to unleash the domestic  oil and gas industry to lower prices, support American jobs, and  decrease our persistent reliance on adversaries for our energy.”

The full letter can be found here and below.

October 11, 2022

The Honorable Joseph R. Biden

President

1600 Pennsylvania Avenue

Washington, D.C. 20500

President Biden,

I write to  express my concern regarding the continued release of crude oil from  the Strategic Petroleum Reserve (SPR), now at its lowest point in four  decades. Given that the United States consumes nearly twenty million  barrels of oil per day, the recent decision to release another ten  million barrels from the SPR is not only reckless, but it will have a  minimal effect on lowering prices at the pump.  Draining our emergency  supplies is a short-sighted and dangerous choice that imperils our  energy security at a critical time of global uncertainty.

Furthermore, the concerning announcement by the Organization of the  Petroleum Exporting Countries (OPEC) to reduce oil production underlines  the importance of American energy independence. The OPEC decision  should result in your administration working to increase domestic oil  and gas production, not continuing to tap the SPR at unsustainable  levels or easing sanctions on oppressive governments in countries like  Venezuela. The current geopolitical turmoil requires robust exploration  and production of oil to boost American energy security.

Rather  than support American energy production, the Department of the Interior  (DOI) announced it would raise royalty rates for onshore leases and cut  acreage available for leasing by 80 percent.  Even after the emergency  oil reserves had been depleted, DOI’s proposed five-year offshore oil  and gas leasing plan opened the door to allowing zero lease sales  through 2028, an unprecedented policy.  With this program now lapsed,  and many other offshore leases canceled, your administration is  jeopardizing our nation’s ability to use our vast resources for energy  independence. In turn, I urge you to replenish the SPR with increased  domestic oil production instead of draining our emergency reserves.

 The United States can no longer stand by as OPEC continues to  consolidate power over the world’s energy markets. Now is the time to  unleash the domestic oil and gas industry to lower prices, support  American jobs, and decrease our persistent reliance on adversaries for  our energy.

Sincerely,

Jerry Moran

Original source can be found here.