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.
